Cobra's Market View

like Cobra always used to say, surprise is always on upside with the trend game over for bears

Wow. I'm guessing the news that Summers withdrew his name from consideration in the hunt for Bernanke's replacement sparked a huge rally in the futures.

Hey guy's good dialog, nice charts as well. This subject is likely to get very interesting tomorrow and through the end of this week. What still has me perplexed though is how this condition gets resolved. The market is set to gap up 1% tomorrow, that disparity is going to get larger.

As I posted the daily, weekly, monthly bands are all flat and tightening right now. It is conceivable we breakout, but the rise is going to be severely constrained for a period. Add to this the big disparities in most of the internal indicators, this rally looks very suspect from a TA perspective.

Thinking we might be seeing a massive blow off, to the 1709+ area and an eve & adam double top which targets 1570.

Either that or bear extinction........

[quote="uempel"]Ratbastrd, this BPSPX chart was posted yesterday in Cobra's blog:
Uempel, thanks I didn't see that. Was there any dialog at that time around the disparity?

Summers out of running for Fed chief!
/ES on fire … gap up 1%

wow futures exploding. I was waiting to see which way we would resolve at the 1684 area but looks like they only gave you the chances on thursday and friday if you were able to read the chart right. I of course didn't! LOL I'm sure many will say they did.

this guy has been bang on with the analysis. I know stupid name but great free education. stockporn.blogspot.com

$SPX: Instead of an ED price concluded a Triangle. Today we shall see the thrust.