Cobra's Market View

Flat open, any gap will be filled. The Global ES looks like tested the yesterday's intraday high then pulled back, just the pullback didn't make a lower low, instead could be a Symmetrical Triangle is in the forming so the bias is still on the upside, let's see.

Good morning Cobra.
Safa!

good morning & good luck Cobra et al

Nasdaq composite 2,579 traded above resistance intra-day 2,593 and closing 2,580. btdstocktrader.webs.com

Good Morning.

So honey...finally...a month that ends in "R."
ES http://99ercharts.blogspot.com/2011/09/es.html

What...oysters?

Good Morning Cobra! Very nice commentary last night!
Yes, it should take another leg up, or at least a retest of 1230, to establish a “solid top”.
The P/C vol. ratio yesterday shows that QQQ and IWM lead with bearish numbers:
QQQ P/C = 5
IWM P/C = 4.7

hey guys been on vacation. symmetrical triangle also on /cl . this mornings gap has been filled already at 88.81.... if we break up target is either 91.12 (61.8% retrace from 100.62 to 75.71 ) and/or 91.93 gap. good ism at 10 could do it, i got a buy stop order in at 89.20. good luck all.

NO gap today??? amazing!

Do you mean "R" for Risk?
AUDJPY http://99ercharts.blogspot.com/2011/09/audjpy.html

No...that's off.

AAPL: “Gann’s Rule of 4” in action.
According to this rule, when a stock tries to break through a critical level, the 4-th trial is a crucial one. Therefore, the direction of the drive after a 4th retest, in the right conditions, can be followed with a good P of success.
On chart, AAPL is ready for hit #4 at the 6/8 level of the Murrey Math scale.

Good Morning - In light of Cobras todays comment about any pullback shouldnt be big, if I was the market, which I am not, if the manufacturing #s come out weak, as expected, then the market may temporarily pull back, then just rally with a strong finish with the idea of QE3 coming in 3 weeks or so. Should that happen, I would guess to say, the market would approach the 200 dma, maybe go beyond it by the time the FED meets later this month.

Good Morning everyone from Toronto, Canada!!

Cobra- I picked up these chicken bun from Chinatown yesterday and having them for breakfast...they are amazingggggggggggggg

the open.

Alpha_M wrote:Good Morning everyone from Toronto, Canada!!

Cobra- I picked up these chicken bun from Chinatown yesterday and having them for breakfast...they are amazingggggggggggggg

"R" for recession?
Copper http://99ercharts.blogspot.com/2011/09/copper.html

You mean the one we never left?

biotrader wrote:NO gap today??? amazing!

yeah, I was surprised too, no gap, especially no up gap, that's really unbelievable.

i suggest everyone get there buy + sell stops in right before 10am ISM... on hold till then. anyone here about a whisper number?

still, for now, the bias is on the upside.

SSO buy above 45 ? ( right near DMA 377 and WMA 75 ).

agnosia wrote:i suggest everyone get there buy + sell stops in right before 10am ISM... on hold till then. anyone here about a whisper number?

not that any of us can predict the future, but the past 2-3 big economic data points have been sold at the announcement and then bought like crazy into the close of the day.

would be interesting if we follow that recent pattern with the ISM announcement.

i believe the whisper number is 44/45.

i think it'll be between that and the 48.5 prediction. still below that critical 50 level.