Cobra's Market View

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Ascending Triangle (well, it was a perfect bullish pattern, too bad) breakdown, almost hit target. I'm neutral, as too many possibilities here: consolidation then breakout on the upside or continue down but cannot breakdown to form a rectangle or continue down and breakdown to form double top...

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members only update starts here: http://www.cobrasmarketview.com/2013/12 ... ay-update/

Here we go! Tho as you know i was expecting this decline, i am surprised that little triple top wasnt taken out first! Perhaps next week , hopefully!

Is there any merit to this article or analysis?

http://www.marketwatch.com/story/market ... beforebell

Thanks

Junior Buffett wrote:Is there any merit to this article or analysis?

http://www.marketwatch.com/story/market ... beforebell

Thanks

No, any reversal pattern with a target under zero is at the least extremely suspect.

Interactive Brokers stock quotes is down. Futures showing

Cobra: thoughts on AAPL?? thanks

morning hourly hollow red.

koolblue wrote:Here we go! Tho as you know i was expecting this decline, i am surprised that little triple top wasnt taken out first! Perhaps next week , hopefully!

Thanks very much for your insight and charts!

Very good TA

Keep'em coming

Yesterday's gap filled, minor interday morning gap.. expanded the possible ascending triangle.. possible H&S.. targets either top or bottom of the blue channel.. if patterns play out.

AAPL 60m... on the neckline..

Partial short. No change.

My summation signal is down.
My composite trend signal is numerically up but 2 of the 3 critical indicators for a trend change have been whipsawing.

Seems to me like a bull treading water. The trends head is above water but there are issues under the surface.
Bears have an opportunity to dunk the bull if they mobilize, but if not, the bull can dog paddle on.
As momentum has slowed, a lot of moving average thresholds have caught up to current levels on my trend indicators.
This is tricky for me as my signalling can vacillate by the day if we chop around for awhile.
I'll stick to my setups but it may cost me if the next trend with some juice does not appear until next year.

I commented on anticipated tax loss selling in precious metals and treasuries some time ago. It looks like that process is finito at this point.

nothing to say, it's a range day so far. since we have a morning hourly hollow red bar, so the day low might get revisited.

Still short gold here. painful day but i dont have anything to get me out of my position. so, i must continue to think there is some final capitulation bottom out there to wait for.

Gold needs capitulation before any meaningful rally can begin. if we dont get it on this correction, it just makes me more bearish on gold for 2014.

SPX 5m... morning gap filled into MA resistance.. mind the minor gap at 1805ish

Koolblue,

OK ya got your bounce which I did not expect (Duh) short lower now whats your sketches say?

Thanks

my guess.