Cobra's Market View

I know that, I'm just saying in a broad picture this continuing of haves and have nots is detrimental to the country in general. Both parties perpetuate this. There is a tipping point out there... not saying we are there yet, but this will move us a little bit closer. Mr Smith, these kind of headlin...

its about over.....

gov't shutdown, sequester, and the beginning of the end of reasons to create wealth

http://www.cnbc.com/id/101105940

I don't have the stomach for day trading so the longer views in the indexes seem to be safer bets for me. I like to look at the whole forest not just a tree. Great picture, where is that Ireland/Scotland area? btw how often does your ellipse charts hit on a "big move"? I don't fully unders...

Here is the weekly chart i've been following.... pretty much shows the same thing

fehro wrote:DOW daily.. possible H&S.. but much higher.. then just a trading range from the neckline to the highs..

indu101013b.png one of the reasons I used the slanting neckline is because the underlying trend is upward sloping, but your point is taken. I also added the fib extension from the low to the first high... the retracement fits the 61.8% on the measured move. It all "fits" nicely..... we wi...

indu101013.png So to me this looks like a perfect head and shoulders top with a test of the neckline on the DOW. If the neckline breaks then we have two possible targets. The measured move and the one with Bulkowski's percentage. Either way we know the direction and the range IF we break the neckli...

Just an observation: Nasdaq and Russel has had great strength leading the market higher compared to the other market indexes in the last month with the dow being the weakest. Today we are seeing the Nasdaq and Russel lead the charge lower (edit:and also) in the last 5 days. This is different then re...

It looks like we are up against resistance from the uptrend line. If we break through that then about spy=163 seems likely. That would also keep the double top potential in play on the weekly chart.

s&p

if we go below 1670 then my next target would be 1666

if we go above 1674.5 then my upside target is 1680.8

I'm posting this to keep myself honest (no Monday morning quarterbacking)

I don't day trade either, but I like to look at intraday to practice on pattern recognition as it should be the same on daily and weekly charts. edit: it broke 1678 so lets see how close it gets to 1671 so it looks like a yes it is so the target would be: 1691.81-1678.09=13.72 13.72*0.47= 6.45 1678....

so it looks like a yes it is so the target would be:

1691.81-1678.09=13.72
13.72*0.47= 6.45
1678.09-6.45=1671.64

if/when it breaks below 1678

stlwater wrote:

smith wrote:

bf10032013.png

Newbie question:


would this be considered a bear flag on the 15min chart?

http://thepatternsite.com/flags.html

Newbie question:


would this be considered a bear flag on the 15min chart?

the "waterfall" in the averages may have begun

It looks like the 50 dma is starting to turn over too

Light pomo over the next week with none on Friday or Wednesday. fwiw

Thu, Oct 03, 2013 $1.25 - $1.75 billion
Mon, Oct 07, 2013 $2.75 - $3.50 billion
Tue, Oct 08, 2013 $1.25 - $1.75 billion
Thu, Oct 10, 2013 $1.00 - $1.50 billion
Fri, Oct 11, 2013 $1.25 - $1.75 billion

Still watching the potential weekly double top in SPY

Looking for the break below 163 to confirm

Interesting article by Cullen Roche

U.S. Treasury: 7 Factors that can Contribute to “Fire Sales” and Market Panics

http://pragcap.com/u-s-treasury-5-facto ... ket-panics

A POSSIBLE Double Top if we break below 163.05 in the weekly SPY

This week is historically bearish

http://humblestudentofthemarkets.blogspot.com/

Here is my wall of worry that may help cause spy to break down (in no particular order):

Syria
10yr exceeding 3%
Tapering
U.S Budget debate
Debt ceiling debate
Fed Chair replacement
Housing slowdown


Did I miss anything significant for the next 4 weeks!!!

Bank of America cuts 2,100 jobs in mortgage slump

http://www.cnbc.com/id/101021685

Yep, it's another housing bubble

http://www.cnbc.com/id/101019905

The student loan bubble is starting to burst

http://www.cnbc.com/id/101012270

Lots of bursting bubbles....