Cobra's Market View

Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.

morning

Cobra wrote:Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.

how low it will go?

Morning,

Pleased to say my strange SPX charts from last two days have now been repaired.

simpletrader wrote:

Cobra wrote:Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.

how low it will go?

Consolidation? No idea.
Breakdown would be a measured move, Fib 61.8 of yesterday's range.

Resting on support line from September: http://finviz.com/quote.ashx?t=spy

Cobra wrote:

simpletrader wrote:

Cobra wrote:Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.

how low it will go?

Consolidation? No idea.
Breakdown would be a measured move, Fib 61.8 of yesterday's range.

that will make a HL, LL of some kind.

Another Day...FYI..Stocktiming.com says Mkt in danger condition today.....Institutions are under low distribution... Liquidity still high but moving down...Russell the most short term negitive. The owner Marty has very good charts and a Mkt sumary every day.He is very very conservitive...Here is to good trading today.

morning,

sideways action until new moon Friday and take a turn down to 127? then bounce back higher? many many questions?????

Opening.

8 consecutive red hourly bars are rare, so a rebound of some kind should be close (intraday only) and as usual I expect the rebound (if any) would fail eventually.

Morning!
What a nice day for a EUR correction.
http://99ercharts.blogspot.com/2011/03/eurusd_02.html
Otherwise we're going to fall into that filthy creek.
Good luck.

All the intraday chart I've been showing or I shall say all the charts I've been showing at my blog or my forum are from my public chart list, you can check there: http://stockcharts.com/def/servlet/Favo ... =ID2393449

any idea for the rebound target?

Cobra wrote:8 consecutive red hourly bars are rare, so a rebound of some kind should be close (intraday only) and as usual I expect the rebound (if any) would fail eventually.

/ES
This is an experimental chart to determine whether Wolfe Waves provide indications of support and resistance levels. The three parallel grey lines from left to right comprise a long-term upward channel. Within that channel are two WWs (1 and 1' with targets of 6 and 6'); note that WW' (in blue) has as its upper boundary the top line of the rising channel. I'll post this same chart from time to time to see if there is any merit in this idea.

http://99ercharts.blogspot.com/2011/03/es_02.html

By the way, I saw some ad poster aleady posting, I don't have time to deal with those, so now I manually approve register, please when you register, try your best use some meaningful id or at least human understandable email address so that I know you're human not a machine. Thanks.

wave wrote:any idea for the rebound target?

Cobra wrote:8 consecutive red hourly bars are rare, so a rebound of some kind should be close (intraday only) and as usual I expect the rebound (if any) would fail eventually.

We'll talk when there is a rebound.

Market mood right now neutral to negative.

Nothing to say.

Thanks Cobra for info on your public charts.