Cobra's Market View

Again, the bid may appear strong, but we need watch up vol : down vol and adv : dec closely. Normally, up vol : down vol should be higher than adv : dec, but strange enough today that adv:dec is more than up vol:down vol. This is not a good sign as far as I remember.

Just some quick measurement about the rebound, I still the low will get tested.

Traderwill33 wrote:Cobra--- sorry for the bother again... how about 225x225 or something in that area.... 20K is fine on the avatar.

256x256 now.

Looks pretty much like a small rising wedge to me or bear flag, so I'll assume the low will be tested?

Much more risk though because in the morning, it's 5 min OR low support while a moment ago only volume surge tells and it's dangerous to short on a (well, was) strong uptrend day.

Forgot to mention, there was a Double Top pullback short there, petty much mirrors the morning's Double Bottom pullback long I called this morning. I wasn't eyeing the chart at that moment...

ahdou wrote:Hi, Cobra, is it possible to fill the gap next? is the 15 minutes rising wedge you mentioned yesterday still in forming? thanks!

We could have a bigger wedge.

Noticed today the volume is much more heavy than the previous few days, another caution flag...

Chances are the pullback isn't over yet...

yesterday's high as support...

Traderwill33 wrote:Cobra-I love the intra day posts! Thanks so much! I have a quick question.... can the avatar setting be set to have one bigger than 10k jpeg.... hard to find one that small.

Done. 20K max, 192x192 max.

A little bit support here...

OK, today may not be strong as it appears, see up volume to down volume ratio below, no match of the last time, so a little bit be cautious here.

Double Top pullback, 2 leg down to test EMA20, seems pretty strong...

OK, typical 30 min OR breakout day, a 80%+ winning chances for today. Now we have a new high after 10:30am ET, so 90% chances that close > open today.

For the record, don't forget my rule: Strong gap up and after 10:30am ET there's a new high, 90% Close > Open, let's see.

The breakout needs confirmation, bears are not over yet though.

i just don't short big gap up, but it doesn't mean i won't short later today If I read correctly, this pretty much should be long here. Isn't this double bottom reversal or what you Martian calls?[/quote] i longed H2[/quote] I knew you would. You Martian just know a few of those tricks as long as I...

As far as I can see, this still pretty much 30 min OR breakout setup on going...

And yet, 30 min OR breakout long, typical. If my statistics works again today, long this breakout, works 80%+ of the time... I'll pass today as you guys keep yelling this is a top...

black wrote:

q2model wrote:

black wrote:i don't think this is top, at least i definitely will not short here.

What is your reason?

i just don't short big gap up, but it doesn't mean i won't short later today

If I read correctly, this pretty much should be long here. Isn't this double bottom reversal or what you Martian calls?