Cobra's Market View

Another look of why bulls will have a hard time ahead, fear gauge.

koolblue wrote:oK, ONE MORE TRY FOR ME...

Why didn't you wait another 85 minutes

cause it just hit the termination ratio (for this phase of the decline, its oversold all timeframes up to 60 min and my cycle bottoms now...

Trading the dec ES and just going for a couple handles...

uempel wrote:Update:

1.png

thanks Uempel! I began exiting shorts too soon, again

The first hour of tick has the hallmark if a trend day - along with downside breadth of 3:1 - suggests bounces should be viewed with suspicion translation today's mantra STFB

consolidation instead of rebound, bias still is down.

joegamma wrote:

uempel wrote:Update:

1.png

thanks Uempel! I began exiting shorts too soon, again

I'm not sure if there is much further downside, but the time signal is very clearly pointing to 1:00 p.m. (on the 5 min) and 1:00 - 2:00 p.m. (on the 60 min). I feel much safer when I trade with a good y-axis support/resistance and a good x-axis signal. The x-axis signal reduces risk, helps me avoid a possible break of support if I long too early

uempel wrote:

koolblue wrote:oK, ONE MORE TRY FOR ME...

Why didn't you wait another 85 minutes

uempel wrote:

KeiZai wrote:

uempel wrote:KeiZai, I might long DAX 9030ish...

I like long there too but not going to take it atm maybe long scalp tomorrow I think there is gonna be failed HnS breakdown aka bear trap (now testing the neckline)

The attachment DAX-hh.png is no longer available

ZigZag on DAX targets 9020ish too...

IN short-term could be descending triangle wave4 (my preferred) or diagonal wave 5 (with double bottom?)so some kind of bigger bottom should be close better R/R is now definitely on the bulls side IMHO but in the bigger picture decline is most likely in 5 waves so after corrective 3 waves back there is gonna be another shorting opportunity for another 5waves down (c-wave)

uempel wrote:

joegamma wrote:

uempel wrote:Update:

1.png

thanks Uempel! I began exiting shorts too soon, again

I'm not sure if there is much further downside, but the time signal is very clearly pointing to 1:00 p.m. (on the 5 min) and 1:00 - 2:00 p.m. (on the 60 min). I feel much safer when I trade with a good y-axis support/resistance and a good x-axis signal. The x-axis signal reduces risk, helps me avoid a possible break of support if I long too early

good point And Thanks for Ellipses!,
feels like trenddaydown (how long has that been....) but iwm has substantial support here 110 evenish (may be resistance in a minute and Denal's expectation a few day's ago of plunge to 109half would be more applicable, time will tell.

In case you have forgotten about it...this P-Bar from last week is coming into view.
Let's see if it gets tagged.

3rd time is a charm it is

Thanks! denali92 and Mr. Bachnut...really appreciate your responses

Mr. BachNut wrote:In case you have forgotten about it...this P-Bar from last week is coming into view.
Let's see if it gets tagged.

SPY 179.01.png

Thanks BachNut, I had lost it somewhere on my desk

RUT 60m... undercutting it's 50d SMA .. atm 1105ish...

SPX 5m.... Ahoy!..... GAP BELOW!... hahahaha

I Like STFB.... It has been a LONG time since that has been used..... and ONLY for day trades..... since 2011.....

Last trend day was on 19-Nov..... just remember Uempel's time signal.... as that trend day ended at 2:30pm and we bounced fairly hard!

-D

essessme wrote:The first hour of tick has the hallmark if a trend day - along with downside breadth of 3:1 - suggests bounces should be viewed with suspicion translation today's mantra STFB

Champix, went long fdax december at 9062... (I'll add up if it goes down to 9030ish)

SPY 5 min yesterday and today to show strength of down day today.