Cobra's Market View

Gap up above yesterday's high, so the gap might not be filled, not sure because the NFP day pattern is open high go lower. The Global ES still looks like a Rising Wedge with the support trend line adjusted several times now. That said the trend is clear up, like negative divergence, you never know when a Rising Wedge gets really bearish, so I see no reason to be be bear yet.

morning guys. played the payroll lotto this morning. buy stop 82.40, stop 82.39, sold at 83.5.. easy money always we have a gap @ 84.45 to fill but the 20sma on the dally has been resistance thus far.

We'll see if we can cross the 50 EMA (blue line).

The 50 EMA has been resistance on the 2 most recent
bull rallies. 50 EMA would be SPY 119.07.

Go short into the close we are way to strechted

johnnywa wrote:Go short into the close we are way to strechted

the play was to short the morning pop. we go down from here

Good morning Cobra! Very nice post yesterday evening!
SPY: on 3 time frames, SPX stopped its climb yesterday at a critical level.
Now I have to “accept” a gap up and look for target/resistance higher.

Went short two minutes after the release...up big already. Gap should fill. Small caps and nasdaq not participating.

phantom bar down to 1158 on 2 min prophet charts/TOS. there for a min and disappeared

Good Morning.

So honey...it's the weekend.
ES http://99ercharts.blogspot.com/2011/10/es_07.html

Shall we wax the old boards again?

TGIF.

On SPY daily: watching the 118.7 zone

What...no surfing?
AUDJPY http://99ercharts.blogspot.com/2011/10/audjpy_07.html

The surf's building.

i definitely missed the rally. didn't expect to be this big. but trading counter trend in the market is suicidal. at this point, i have no choice but to add to my short at the 50 ma.

Okay. What about our tickets?
EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_07.html

Booked but not paid for yet.

am still short from the close yesterday. following the recent NFP pattern. will double my position at the open with a stop above the pre market pop around 118 (117.95) on spy.

On SPY 130 min: also the 118.7 zone...

agnosia wrote:

johnnywa wrote:Go short into the close we are way to strechted

the play was to short the morning pop. we go down from here

hope your right I am looing for a turn into the weekend and down early next week,R2K .03 from red

[quote="Cobra"]Gap up above yesterday's high, so the gap might not be filled, not sure because the NFP day pattern is open high go lower. The Global ES still looks like a Rising Wedge with the support trend line adjusted several times now. That said the trend is clear up, like negative divergence, you never know when a Rising Wedge gets really bearish, so I see no reason to be be bear yet.


if huge gap up open tomorrow, it’d be out of the limit therefore whether such a gap could hold is questionable, especially we all know that the typical Non Farm Payroll intraday pattern is open high go lower or open low go higher.


Cobra what changed since last nights report regarding the gap up
from ' gap could hold is questionable' to 'gap might not be filled'

jakd wrote:

Cobra wrote:Gap up above yesterday's high, so the gap might not be filled, not sure because the NFP day pattern is open high go lower. The Global ES still looks like a Rising Wedge with the support trend line adjusted several times now. That said the trend is clear up, like negative divergence, you never know when a Rising Wedge gets really bearish, so I see no reason to be be bear yet.


if huge gap up open tomorrow, it’d be out of the limit therefore whether such a gap could hold is questionable, especially we all know that the typical Non Farm Payroll intraday pattern is open high go lower or open low go higher.


Cobra what changed since last nights report regarding the gap up
from ' gap could hold is questionable' to 'gap might not be filled'

haha. i think cobra means the same thing...no?

"gap...hold...is questionable" and "gap might not be filled". same no?

Haven't paid yet?
Copper http://99ercharts.blogspot.com/2011/10/copper_07.html

Higher highs.

johnnywa wrote:

agnosia wrote:

johnnywa wrote:Go short into the close we are way to strechted

the play was to short the morning pop. we go down from here

hope your right I am looing for a turn into the weekend and down early next week,R2K .03 from red

it's possible we retest the highs when the cash market opens though.