Cobra's Market View

Gap down open but within yesterday's range plus statistically, the next day to a Major Distribution day, most gaps, if not all, get filled the same day and the day tends to be a small range day (since nowadays the volatility is high, so small range day probably means +/- 10 ES points day) so my guess is the gap may get filled and we may have a range day today.

The Global ES is at a key point, because it can be seen as back test of the previous low therefore if cannot breakdown decisively then chances are the low was in for at least this round of selling. Let's see.

morning, Cobra Laoda and everyone.

Thanks for your pre-market update. You got me hook with your analysis.

Cobra, you mean nowadays 10 points move in 1 min

GM

Thanks for all your efforts, Cobra. You do a great job.

Good morning to all (although its afternoon here in the UK).

Took a long position on the Dow about an hour ago at 10590 at £10 per point.

Looking good so far !

lol small range day = +-10es ahha

Cobra,

Fantastic report last night!

bear flag breakdown on /es this morning and the calculated move was down to 1102. i went long 1110.. i think the bottom is in for now.. lots of nervous short sellers covering with huge spikes.. i am done for the day, been up since 5am

AK84 wrote:Cobra,

Fantastic report last night!

Agree, outstanding Cobra. I'm amazed! Where do you find the time???

GM,
I see sideways to down since over night got smack back down.

Good morning, Cobra Nation!

Thanks for all the work you do, Cobra. I'm guessing 112 holds here and we make a few attempts to move higher. Hard to say if a rally would succeed.

agnosia wrote:bear flag breakdown on /es this morning and the calculated move was down to 1102. i went long 1110.. i think the bottom is in for now.. lots of nervous short sellers covering with huge spikes.. i am done for the day, been up since 5am

5 AM is not that bad..I get up at 4:30 AM every day.Lets have good trading today.

AK84 wrote:Cobra,

Fantastic report last night!

usually, when I show lots of charts and people are happy with my long report, such a report most likely is wrong. So accordingly, the correct forecast should be: no rebound but the low was in.

ultramarine wrote:Good morning, Cobra Nation!

Thanks for all the work you do, Cobra. I'm guessing 112 holds here and we make a few attempts to move higher. Hard to say if a rally would succeed.

overnight high usually is the rebound target.

1123-25 on es is broken support now resistance

Good Morning.

Updates

EURUSD http://99ercharts.blogspot.com/2011/09/eurusd_23.html
ES http://99ercharts.blogspot.com/2011/09/es_23.html

TGIF.

Updates

Gold http://99ercharts.blogspot.com/2011/09/gold_23.html
Silver http://99ercharts.blogspot.com/2011/09/silver_23.html

VIX 130 min - a continuation of a weekend chart.
The blue zone BUY signal (ellipses under the acceleration band) worked for a 4th time.
Target now ~45. Following calls with a loose trailing stop.