05/07/2012 Live Update

[BullBear52x]

IYR hourly candle and its position, not looking healthy.

Fax you a beer!

[jefftrader]

At 13:10 time, your part of the stimulus was spent.

For you lurkers out there, don't ever doubt who controls the price of this market and the allowed parameters where it can trade. In very many ways, "Abandon all hope, ye who enter".

DRAW YOUR TRENDLINES AND CHANNELS!

How do you know that is government intervention stimulus and not the big banks manipulating the market?

[Petsamo]

Anyone know if trading volume is unusually high today?

[MrMiyagi]

Anyone know if trading volume is unusually high today?

So far, with 2 hours to go, it is at the daily average, so a bit higher than average but not unusually high.

Oops actually, sorry, that chart I am looking at only updates end of day.
But.. looking at SPY volume, it is not high at all.

[TraderJoe]

Anyone know if trading volume is unusually high today?

A bit on the low side. S&P is 85 mil sb about 125 mil

[SWalsh]

SPX is quite boring today, chart signals a move for tomorrow at the opening.

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N.B. Europe offers higher volatility at the moment. The dax future had a range of 200 points today, which corresponds to about 40 handles on the SPX. I'm not very familiar with dax yet, but it sure is fun to trade. It's like sailing in a storm, big moves up and down, kind of neat.

Before I tell you why, would you like to guess the reason for that? It's not hard

[Petsamo]

Prices are getting slapped, as if trading is high and comes in spurts

[CarlosDK]

Cobra

So far you said on Friday today a small range day ,,, up or down -- but after 3 days down in a row and today little up move ,, is it possible we could see more down after today ?

[Cobra]

1st target met but overall still looks like a rebound, not something huge.

[Cobra]

Cobra

So far you said on Friday today a small range day ,,, up or down -- but after 3 days down in a row and today little up move ,, is it possible we could see more down after today ?

as long as close > open today, bulls have chances for the following day or two.

[CarlosDK]

Cobra

The bigger picture still tells you dont ? Cause I'm getting a bit confused as last week the picture were up to new highs - a bit frustating last weeks for me.

[Cobra]

aapl goes as planed. http://stockcharts.com/public/1684859/c ... /260183775;

[uempel]

Update:

[Cobra]

Cobra

The bigger picture still tells you dont ? Cause I'm getting a bit confused as last week the picture were up to new highs - a bit frustating last weeks for me.

The market is always right, when I change the direction, you should change too, you cannot use the old report as your direction anymore, read the following report carefully, see how direction gets changed.

http://www.cobrasmarketview.com/2012/05 ... ivergence/, even in this report, although I expected a new high but I also warned that bulls would take a breath.
http://www.cobrasmarketview.com/2012/05 ... -violated/, in here I gave more evidences about coming pullback, and mentioned the H&S Top.
http://www.cobrasmarketview.com/2012/05 ... lders-top/, in here, I told you the downside was confirmed by a 1-2-3 formation short setup.

If you find very hard to catch my step, you can simply follow the Cobra Impulse System or Non-Stop model.

[MrMiyagi]

I smell a dump coming.. and it's not me.

[victorm]

Cobra

The bigger picture still tells you dont ? Cause I'm getting a bit confused as last week the picture were up to new highs - a bit frustating last weeks for me.

that's market job Carlos - confuse you, show up but go down...

[Cobra]

not good looking rebound, bulls really need show some strength here.

[Cobra]

Cobra

The bigger picture still tells you dont ? Cause I'm getting a bit confused as last week the picture were up to new highs - a bit frustating last weeks for me.

The market is always right, when I change the direction, you should change too, you cannot use the old report as your direction anymore, read the following report carefully, see how direction gets changed.

http://www.cobrasmarketview.com/2012/05 ... ivergence/, even in this report, although I expected a new high but I also warned that bulls would take a breath.
http://www.cobrasmarketview.com/2012/05 ... -violated/, in here I gave more evidences about coming pullback, and mentioned the H&S Top.
http://www.cobrasmarketview.com/2012/05 ... lders-top/, in here, I told you the downside was confirmed by a 1-2-3 formation short setup.

If you find very hard to catch my step, you can simply follow the Cobra Impulse System or Non-Stop model.

Besides, even the short-term I changed the direction very quick but the big picture evil plan hasn't changed a bit, it should be very clear where we are. If you cannot trade fast then focus on the big picture not the short-term evil plan.

[BullBear52x]

Good selling zone. for sell the rip crew only.

[Cobra]

again not good looking here, bulls need work hard.