Cobra's Market View

Small gap up, within the Friday's range, so chances are the gap will be filled. Global ES looks pretty much like a Bear Flag to me, so my guess is the Friday's low will be revisited and perhaps a little lower low which is very common pattern.

Good morning, Snake-people!

Good morning Cobra. Can you remember a time when a destination was so obvious for the markets and so widely predicted like the talk about SPX 1226-1250, and the markets so happily cooperated?

Support zone for RUT:

Morning Laodaaaaaa!!

Hope you had a nice weekend! Get lots of yard work done ?

The weather in New York was quite crappy...rain and cold....in June ??? weird...

G/L to everyone this week!

Cobra wrote:Small gap up, within the Friday's range, so chances are the gap will be filled. Global ES looks pretty much like a Bear Flag to me, so my guess is the Friday's low will be revisited and perhaps a little lower low which is very common pattern.

Cobra: yes, I also think that the gap will be filled. The moves of commodities, in pre-market, suggest that!

The XLF Gann Square reveals here an important support level.
A drop through this level would be very bearish.

Good Morning.
Another up and down day...
EURUSD http://99ercharts.blogspot.com/2011/06/eurusd_13.html
Watch that neckline!

ES
Expecting bounce to broaden the channel...
http://99ercharts.blogspot.com/2011/06/es_13.html
Then down.

AAPL 2 twin Gann Squares have a target/support around 312.50:

Siemens (SI) is often moving ahead of the DAX and therefore it is worth watching.
It is quite “technical” and its chart presents all the symptom of a recently acquired and depressing downward tendency…maybe a trend. Every attempt to correct it fails dismally!
This image could herald a soon-to-start down acceleration.

$ZN_F and $ZB_F have been up 9 weeks in a row. I see no examples in the past 5 years of a longer streak. Anyone have the stats on win streaks in treasuries? Off to a bad start today, I see.

Today's Bullet Points:

* Goldman says to short natural gas. Related to that flash crash perhaps? Therefore, we look to exit our natural gas put options if nat gas hits 4.50 because Goldman appears to have hinted at that price by manipulating the crash

* Today's cycle turns are 10 EST, 12:45 EST and 3:30 EST. With so many turns, you would think it would be a range oriented day

good morning all. wow, i usually don't trade on friday's but it seems i missed a good one... i got stopped out of my last long on /cl at 100. everything i read over the wknd is bearish for oil..

Cons-
--CFTC shows hedge funds cutting back longs positions
--saudia arabia will raise outut to meet opec quota alone

the open.

alphahorn wrote:Good morning Cobra. Can you remember a time when a destination was so obvious for the markets and so widely predicted like the talk about SPX 1226-1250, and the markets so happily cooperated?

Theoretically, 1250 should work at least a rebound of some kind because so many people are watching, that's usually how support works.

AK84 wrote:Morning Laodaaaaaa!!

Hope you had a nice weekend! Get lots of yard work done ?

The weather in New York was quite crappy...rain and cold....in June ??? weird...

G/L to everyone this week!

cut the tree, bought fishes, but didn't patch the lawn, need wait for a week or two until the previously patched fully recovered.

Maximum Pain levels are SPY 130, DIA 120, QQQ 57, IWM 80. The big money options seller target those levels to make most options expire worthless. We shall see how they do this week.

Here is this week's seasonality for trading days in the last year and the current market phase, which I define as the last 4 months, since we've been consolidating. The tendencies are clear cut.

PLUNGE wrote:Maximum Pain levels are SPY 130, DIA 120, QQQ 57, IWM 80. The big money options seller target those levels to make most options expire worthless. We shall see how they do this week.

which data feed did you get this? I got different numbers from yahoo's open interest data