Cobra's Market View

Gap up above yesterday's high so chances are higher that the gap won't be filled. The Friday's high will be the key to watch, my guess is it'll be broken at least a little little bit to eliminate all bears' stop loss above. We'll see. Not sure if the Global ES has already had the 3 push up which if so would mean that the rebound is almost near the end and we'll see too.

Hi Cobra! Could you, please, be more specific. Rebound is always ambigous. It depends what you consider as a major direction. So, 3 push up and rebound means 3 push up and then down?

gabor wrote:Hi Cobra! Could you, please, be more specific. Rebound is always ambigous. It depends what you consider as a major direction. So, 3 push up and rebound means 3 push up and then down?

yes, 3 push up then down.

Good Morning.
Looking like a fun start for Bears.
ES: http://99ercharts.blogspot.com/2011/05/es_10.html
What would an Elliott Wave fan say?

cobra..what chances to you give to a breach of 137.18 on the spy

Cobra, so you are kind of bearish on short term, aren't you.

EURUSD
Appears to have finished its cigarette break...
http://99ercharts.blogspot.com/2011/05/eurusd_10.html
Back to working its way down?

i tried playing the /es last night.. the asian session was weak but i couldn't quite stay up for the 3am european open where the markets caught a bid. i shorted this mornings spike up to /es 1350... also shorted gold near 1518. 1520 is the 50% retrace of the entire move down.. is the pm bounce over? not sure..

gabor wrote:Cobra, so you are kind of bearish on short term, aren't you.

Did you read my report? Don't get me wrong. I think you might not know that I have other very detailed report everyday.

brownstein00 wrote:cobra..what chances to you give to a breach of 137.18 on the spy

not sure, just a wild guess.

Cobra wrote:

gabor wrote:Cobra, so you are kind of bearish on short term, aren't you.

Did you read my report? Don't get me wrong. I think you might not know that I have other very detailed report everyday.

I did not know. Where it is?

gabor wrote:I did not know. Where it is?

http://cobrasmarketview.blogspot.com/

Oh, my god, how many people here don't know that the intraday comment is just a minor addition to my daily report?

By the way, if possible when you shop at Amazon, please use my link on my blog, thanks.

The upside target is, and has been, 1366 (at least). Until it's hit the bears are wasting their time.

Cobra wrote:Oh, my god, how many people here don't know that the intraday comment is just a minor addition to my daily report?

By the way, if possible when you shop at Amazon, please use my link on my blog, thanks.

I bought somoething from Amzon twice last week and use the link from Hutong9 link. Hope Amzon give you the cedit soon.
Even I lost big on AMZON trades.

Thanks for keeping this board work.

YSC

The open. any of you remember the 3rd push I mentioned in yesterday intraday comment? Now here it is.

cletus wrote:The upside target is, and has been, 1366 (at least). Until it's hit the bears are wasting their time.

my upside target on the /es was hit on sunday night , 1373.5.. the osama top as is shall be known for months to come.

Cobra wrote:The open. any of you remember the 3rd push I mentioned in yesterday intraday comment? Now here it is.

You were absoluterly right. You are a good Elliottist!

99er wrote:Good Morning.
Looking like a fun start for Bears.
ES: http://99ercharts.blogspot.com/2011/05/es_10.html
What would an Elliott Wave fan say?

Leg 4 of an ending diagonal Wave 5, lol.

I'm not a big EW guy, but EW does explain a lot of market movement.

I learned this one from Cobra, on the top in early April.

MA200 red line will be the next resistance by the way.