Cobra's Market View

Richarab wrote:

uempel wrote:DT out at SPX 1646.5 (I trade e-minis, but I'll be moving out when SPX hits the target)

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Target eminis? You know?

I got out September 40.25 (way too soon because e-mini was lagging...)

fehro wrote:

Al_Dente wrote:GDX target (gap fill and measured move and support) is about 26.98, let’s say 27
But right now it is at 50% fib retrace and at a pivot point so a bounce is possible?
[Fehro do you have a better view?….. of gdx NOT nugt or dust….. thx]

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yeah not sure.. would expect a little bounce*, then continue down?... a little ABC /3 wave move down? Looking for a little day trade here

Note that GDX $27.62 is the 50% retracement level from bull run Aug 7-Aug 27th. I think it's the key level for GDX bulls to see if it holds. Also note that 30 day MA just crossed 100 day MA today, bullish cross. Of course, if the pros let another huge sell of miners go at 2:30 pm like last 2 days, it will keep diving IMO.

fehro wrote:yeah not sure.. would expect a little bounce*, then continue down?... a little ABC /3 wave move down? Looking for a little day trade here

cool thanks

VIX 30m .. seems to have a little H&S

TSLA...wave counts are difficult to predict...but TSLA looks like it is ripe for a pullback because of the potential ending diagonal for wave 5. The question is...is this wave 5 of (3)? or wave 5 of C?

Al_Dente wrote: ...But right now it is at 50% fib retrace and at a pivot point so a bounce is possible?...

seemore wrote:Note that GDX $27.62 is the 50% retracement level from bull run Aug 7-Aug 27th. I think it's the key level for GDX bulls to see if it holds. ... .

cool thanks

BullBear52x wrote:NFLX looks to be out of gas. no new high, it's buy the dip set up just saying

AAPL next sell wave comes in will take the Qs with it.


Intraday is now overbought. I am selling /ES here "gut shot" hourly RSI is sell able. it's not going to be easy one but at this moment I am betting a pull back from here.

The upside gap was filled...there are still downside gaps...wonder if they fill eventually??

Anyways, because of the potential ending diagonal on NFLX it looks ripe for a pullback...but because of the impulsive nature of this leg up, I would expect to see a higher high after a pullback...

Al_Dente wrote:

Al_Dente wrote: ...But right now it is at 50% fib retrace and at a pivot point so a bounce is possible?...

seemore wrote:Note that GDX $27.62 is the 50% retracement level from bull run Aug 7-Aug 27th. I think it's the key level for GDX bulls to see if it holds. ... .

cool thanks

Is there an echo?

I think I was supposed to say thanks.

Closed 1/2 of DUST swing long. GDX likely to bounce soon, but looks to eventually close the gap from 8/12.

consolidation instead of pullback favors bulls.

fehro wrote:VIX 30m .. seems to have a little H&S

VIX is holding very strong even with solid green market, is that telling anything?

minor divergence at the moment in the VIX.. higher highs in the indices .. VIX at the moment.. hanging in

Junior Buffett wrote:

fehro wrote:VIX 30m .. seems to have a little H&S

VIX is holding very strong even with solid green market, is that telling anything?

hmmm.... some people don't trust this rally... at the moment..

joeynickels wrote:Closed 1/2 of DUST swing long. GDX likely to bounce soon, but looks to eventually close the gap from 8/12.

Nice one boss
I can’t hold 3x as long as u can
It messes with my pacemaker

SPY....5 waves for c of C as expected...now could see weakness...can end up being a triple zig zag, but abc up is complete...

Another view

Hello gap
2 min

Junior Buffett wrote:

fehro wrote:VIX 30m .. seems to have a little H&S

VIX is holding very strong even with solid green market, is that telling anything?

Yes. I've been watching this with interest as well. I'm holding both VXX and XIV currently.

Al_Dente wrote:

joeynickels wrote:Closed 1/2 of DUST swing long. GDX likely to bounce soon, but looks to eventually close the gap from 8/12.

Nice one boss
I can’t hold 3x as long as u can
It messes with my pacemaker

I would be out entirely except the 60min, 120 min charts look horrible. Also the daily chart with MACD bear cross today that could confirm tomorrow. If GDX loses the 20 SMA/middle BB support then could drop all the way to the lower BB currently around 24.