Cobra's Market View

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Chart pattern doesn't tell direction, need see more bars, but overall, a real bear should be straight down not zigzag down like now.

The zigzag down makes an end to a nice little triangle though.

members only update starts here: http://www.cobrasmarketview.com/2015/01 ... ay-update/

FXCM $1.35 -$ 11.28 -89.31%

This correction has grinded for about 3 weeks and my bias now is that it is coming to a close soon. We're just running out of room on the charts I use. These charts aren't price but some oscillators, etc. So...we could still have a capitulation next week with a large price drop.

However, I expect I will throw long next week at some point.

/es 60m possible bear flag below the diamond..or possible retest diamond?..

Russell is GREEN

Out of Bounds wrote:Russell is GREEN

WAS.

Out of Bounds wrote:FXCM $1.35 -$ 11.28 -89.31%

got confused there for a minute.. you've been talking about copper.. so thought FCX! // weekly fwiw.

Out of Bounds wrote:

Out of Bounds wrote:Russell is GREEN

WAS.

IS.
(stay tuned)

CL

fehro wrote:

Out of Bounds wrote:FXCM $1.35 -$ 11.28 -89.31%

got confused there for a minute.. you've been talking about copper.. so thought FCX! // weekly fwiw.

Sorry, I imagine that cause you to take a bit of a pause.
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All breadths on the majors are now positive

Dax up over 5% from yesterday low. rip coming?

SPX channels still holding.. VIX over 23/24ish.. look out below!

Update
Sure does look like the bear needs a rest.

SPX hourly candles.. trying to find support.. but under diamond edge..

Game Theory The common knowledge game-
If you hold Euro's you get out of bonds and into equity because of the promise of ECB printing and potential Greek default. Zimbabwe and Venezuela show what happens to equities when you print. So which market? The DAX of course that way if the Euro comes apart you get New Marks for your Euros.
So I would guess some of that money would come over to the US market. If it starts flowing in we will see gap up opens on a routine basis.

Trades with cats wrote:Game Theory The common knowledge game-
If you hold Euro's you get out of bonds and into equity because of the promise of ECB printing and potential Greek default. Zimbabwe and Venezuela show what happens to equities when you print. So which market? The DAX of course that way if the Euro comes apart you get New Marks for your Euros.
So I would guess some of that money would come over to the US market. If it starts flowing in we will see gap up opens on a routine basis.

It's going to gold.

closer view of diamond edge.. messy.. lower low could start to set up a bullish falling wedge.. mind the 200d/open gap 1966ish.. seems a tad low at this point..