Cobra's Market View

reminds of June-August 2010 when bears thought we were headed for a crash, and they got slaughtered

tdo722 wrote:

stockcycle wrote:What I am seeing told me that I don't need to close my long positions today. We may expect to meet 1190 before a deep pullback.

A straight shot from 1080 to 1190 without a corrective wave. Wow, I wish I was Alice in Wonderland.

US market is still leaded by Euro market and the size of Euro advancing meaning much to me.

I added up, put stoploss at 1167, waiting for blue cycle to kick in.

Cobra wrote:

BullBear52x wrote:OK lets be fair, bears just frustrated that they are about to gave back gain nothing more. a selling will continue, I think we will re-visit the recent low. but market is careless what I think, so buy on.

you have any rule to trade Heikin-Ashi?

No, I use it as a gauge of strength and weakness so I won't trade against the trend as much. hourly Heikin-Ashi is best telling a trend change, my move still base on my 1min chart.

99er wrote:Tabby

Think I'll be waxing the old board for a few days but when the surf's up...a great ride.

I wish you could make some wax souffle in meanwhile, bears are getting hungry. No butterflies to eat, no diamonds to chew.

ok just realized i am retarded and wrong. no time to be short, we have seen the bottom most probably, any and all dips should be bought. i am buying financials, materials, coal sector and energy for a swing intermediate trade on the next pullback.

Shorted YM @ 10975 for averaging with 10825

/TF is set for short squeeze soon.

trend line support. cannot drop then it's Ascending Triangle therefore likely breakout on the upside.

uempel wrote:I added up, put stoploss at 1167, waiting for blue cycle to kick in.

SPX11.png

I have been accumulating. Will not add more until support is broken.

ES headed for 1156 or so. ES session range estimate is 1131-1161

Covering my ZSL shorts 14.30 fom 13% higher.... 14,32 was target

SB73 wrote:

uempel wrote:I added up, put stoploss at 1167, waiting for blue cycle to kick in.

SPX11.png

I have been accumulating. Will not add more until support is broken.

Sorry I tried to upload attachment...need more practice, but I see 1154 as support.

tdo722 wrote:Okay, 2nd attemp to cross 1160 failed. Cobra, what do you think? Another 3rd attempt before giving up?

too early to say it's failed because the pullback is not large enough so it can be seen as consolidation.

BullBear52x wrote:

Cobra wrote:

BullBear52x wrote:OK lets be fair, bears just frustrated that they are about to gave back gain nothing more. a selling will continue, I think we will re-visit the recent low. but market is careless what I think, so buy on.

you have any rule to trade Heikin-Ashi?

No, I use it as a gauge of strength and weakness so I won't trade against the trend as much. hourly Heikin-Ashi is best telling a trend change, my move still base on my 1min chart.

I see, thanks.

1159 is the 13 MA on the weekly. Should be very strong. If broken to the upside next target is 1200, I'll post a chart later on.

Still watching RUT/IWM, I do not see an instance recently where up almost 10% in 2.5 trading days ends well.
Growing extremely skeptical now.

All I can see is green
But check interesting “arc” on AA (and not so much on T)
What do they call that chart pattern that rounds up then maybe rolls over
A reverse cup or something?

Once SPX falls below 1154 is the 1st signal. Then follows 1149 and 1146. If it does gets to 1146, oh hell, toilet is the destination.

If IWM cannot break 67 in next few minutes, then I guess today's top is in.

Alright - I am done for the day

Thx for your Market Outlook Cobra.

Good luck trading folks. "Watch your top knot."