Cobra's Market View

Gap down open, below yesterday's range, so chances are the gap won't be filled. Global ES certainly looks like a breakdown from a consolidation area which looks pretty bad, the 100% Measured Move target is around 1130 ES.

Cobra wrote:Gap down open, below yesterday's range, so chances are the gap won't be filled. Global ES certainly looks like a breakdown from a consolidation area which looks pretty bad, the 100% Measured Move target is around 1130 ES.

Cobra, For learning purposes on my part, why do you not think the gap will be filled today -- at least back to neckline of H&S?

GM, Cobra!
SPX scenario. Next stop = 1128:

An increasing weakness was reflected in the intra-day signals for IWM.
...in spite of a continuous "divine intervention"...

$NDX and its "internal problems" - update, at close

depending on how the market open, with Ben's talk, hopefully will open above the neckline.

Good Morning.

[Couldn't resist.]

So honey...still thinking about Europe?
EURUSD http://99ercharts.blogspot.com/2011/08/eurusd_26.html

Well...

I think the Japanese are...
EURJPY http://99ercharts.blogspot.com/2011/08/eurjpy_26.html

Uh oh...Japanese tourists?
ES http://99ercharts.blogspot.com/2011/08/es_26.html

Let's surf the East Coast.

cougar - great charts!

The mkt could not hold below the 1157 level yesterday.Maybe today we gap below the 1152 which is the 200wma.If we can stay below this the mkt may be bearish all day...I like Cougar's 1128 target.Wait and see.

seekingknowledge wrote:

Cobra wrote:Gap down open, below yesterday's range, so chances are the gap won't be filled. Global ES certainly looks like a breakdown from a consolidation area which looks pretty bad, the 100% Measured Move target is around 1130 ES.

Cobra, For learning purposes on my part, why do you not think the gap will be filled today -- at least back to neckline of H&S?

I've given the reason: large gap below yesterday's range, so chances are little bit higher that the gap won't be filled. Check "Getting Start", there's a post about 3 type of morning gaps. All based on that.

Thanx "pez".

Cobra wrote:

seekingknowledge wrote:

Cobra wrote:Gap down open, below yesterday's range, so chances are the gap won't be filled. Global ES certainly looks like a breakdown from a consolidation area which looks pretty bad, the 100% Measured Move target is around 1130 ES.

Cobra, For learning purposes on my part, why do you not think the gap will be filled today -- at least back to neckline of H&S?

I've given the reason: large gap below yesterday's range, so chances are little bit higher that the gap won't be filled. Check "Getting Start", there's a post about 3 type of morning gaps. All based on that.

Thanks. I'll check the "Getting Started".

what time is the announcement?

alvian33 wrote:what time is the announcement?

10am

the open.

pushing back into yesterdays range? -_-

East Coast?
SPX http://99ercharts.blogspot.com/2011/08/spx_26.html

Yeah. Heard there will be swells on Wall Street.

Economy grew at slower 1 pct. rate this spring