Cobra's Market View

First of all, that $10 per month deal for my daily report subscription at http://www.cobrasmarketview.com will expire on Sunday Jan 15 and will never be available again, so if you haven't made up your mind, it's the time now.

Small gap down, so not sure if the gap will be filled or not.

The Global ES doesn't look good as it had the 2nd attempt to the high and failed, so not it might try on the downside.

The normal pattern, I'd like you to know is, usually after a huge gap up day (such as yesterday), the next day's dip will be bought. So for now, I'm not thinking of bear attack. I think the morning dip would be bought again. Let's see.

es seems like a bull flag. What do you think?

Dear Cobra:
Perhaps you think I “blow smoke” when I compliment you.
I’m an old fart, been around a long time, and I just wanted to tell that your two paragraph overnight report contained more valuable information than the entire contents of many trading books.
THERE IS A BOOK HERE COBRA.
A BESTSELLING BOOK ON TRADING.
You must have all your notes archived over the past four+ years, if only you had some “spare time” and a good editor.
I don’t think “newbies” who visit this board realize what pure gold you offer.
I do.
And I thank you once again.

Good Morning.

So honey...how's Europe?

http://99ercharts.blogspot.com/2012/01/relaunch.html

Trying again.

So what do you want to do...watch Wolfe Waves?

ES http://99ercharts.blogspot.com/2012/01/es_11.html

Why not?

[For support/resistance levels moving forward. GLTA.]

Good morning!
Plenty of support here for SPY, on 2 charts. Closest are 128.13 and ~127.35.
However, there are good chances that today we shall trade above those levels.

Just this once, I’ve altered yesterday’s 1 min internals chart to answer the question that none of us asked:
“The bond market is diverging, so why bother watching $TNX intraday for clues?”
Here’s $TNX (pink candles) overlaid on SPY (black bars) 1min, oy !
(Also, the gold candles are $TYX the 30 year treasury yield, and the thin-pink solid line is a 4ma of DBV, the Baron’s G-10 liquidity measure).

http://screencast.com/t/wWt5eg8j

King Cobra,

As a NEWBIE, please allow me to second Dr. Al's compliments. I don't know much but what I do know is that your end of day analysis is a must read for me and it has helped me tremendously in my fledgling trading career.

Thank you for putting out such stellar analysis and making a difference in the life of this one newbie.

Al_Dente wrote:Dear Cobra:
Perhaps you think I “blow smoke” when I compliment you.
I’m an old fart, been around a long time, and I just wanted to tell that your two paragraph overnight report contained more valuable information than the entire contents of many trading books.
THERE IS A BOOK HERE COBRA.
A BESTSELLING BOOK ON TRADING.
You must have all your notes archived over the past four+ years, if only you had some “spare time” and a good editor.
I don’t think “newbies” who visit this board realize what pure gold you offer.
I do.
And I thank you once again.

the open.

Al_Dente wrote:Dear Cobra:
Perhaps you think I “blow smoke” when I compliment you.
I’m an old fart, been around a long time, and I just wanted to tell that your two paragraph overnight report contained more valuable information than the entire contents of many trading books.
THERE IS A BOOK HERE COBRA.
A BESTSELLING BOOK ON TRADING.
You must have all your notes archived over the past four+ years, if only you had some “spare time” and a good editor.
I don’t think “newbies” who visit this board realize what pure gold you offer.
I do.
And I thank you once again.

Thanks. AI, glad to hear that.

juankim wrote:King Cobra,

As a NEWBIE, please allow me to second Dr. Al's compliments. I don't know much but what I do know is that your end of day analysis is a must read for me and it has helped me tremendously in my fledgling trading career.

Thank you for putting out such stellar analysis and making a difference in the life of this one newbie.

Al_Dente wrote:Dear Cobra:
Perhaps you think I “blow smoke” when I compliment you.
I’m an old fart, been around a long time, and I just wanted to tell that your two paragraph overnight report contained more valuable information than the entire contents of many trading books.
THERE IS A BOOK HERE COBRA.
A BESTSELLING BOOK ON TRADING.
You must have all your notes archived over the past four+ years, if only you had some “spare time” and a good editor.
I don’t think “newbies” who visit this board realize what pure gold you offer.
I do.
And I thank you once again.

Thanks.

Update

SPX http://99ercharts.blogspot.com/2012/01/spx_11.html

Buckle up.

Al_Dente wrote:Dear Cobra:
Perhaps you think I “blow smoke” when I compliment you.
I’m an old fart, been around a long time, and I just wanted to tell that your two paragraph overnight report contained more valuable information than the entire contents of many trading books.
THERE IS A BOOK HERE COBRA.
A BESTSELLING BOOK ON TRADING.
You must have all your notes archived over the past four+ years, if only you had some “spare time” and a good editor.
I don’t think “newbies” who visit this board realize what pure gold you offer.
I do.
And I thank you once again.

I'll second that motion, would love to see you write a book Cobra! And thanks again for all your help.

Here’s our friend Corey Rosenbloom’s opinion on the current market “structure”
http://blog.afraidtotrade.com/

PS: Hi juankim !

I wanted an instant jump to 1300 this morning - nothing so far

Hi Dr. Al,

Interesting read. Thanks for the post.

FYI, not sure how you and others on the board feel about it but today is a minor Bradley turn date. Just something to keep in mind.

Al_Dente wrote:Here’s our friend Corey Rosenbloom’s opinion on the current market “structure”
http://blog.afraidtotrade.com/

PS: Hi juankim !

Al_Dente wrote:Dear Cobra:
Perhaps you think I “blow smoke” when I compliment you.
I’m an old fart, been around a long time, and I just wanted to tell that your two paragraph overnight report contained more valuable information than the entire contents of many trading books.
THERE IS A BOOK HERE COBRA.
A BESTSELLING BOOK ON TRADING.
You must have all your notes archived over the past four+ years, if only you had some “spare time” and a good editor.
I don’t think “newbies” who visit this board realize what pure gold you offer.
I do.
And I thank you once again.

Fully agree!
Place your historic content behind 'chinese walls', find a publisher and make millions with your book!
Make sure you send me a signed copy

I've got a signal - presumably 10:00 am.

juankim wrote:Hi Dr. Al,
Interesting read. Thanks for the post.
FYI, not sure how you and others on the board feel about it but today is a minor Bradley turn date. Just something to keep in mind.

Al_Dente wrote:Here’s our friend ...PS: Hi juankim !

thanks juankim, have you got any "killer" link to Bradley info for all of us?

67Chevy wrote:

Al_Dente wrote:Dear Cobra:
Perhaps you think I “blow smoke” when I compliment you.
I’m an old fart, been around a long time, and I just wanted to tell that your two paragraph overnight report contained more valuable information than the entire contents of many trading books.
THERE IS A BOOK HERE COBRA.
A BESTSELLING BOOK ON TRADING.
You must have all your notes archived over the past four+ years, if only you had some “spare time” and a good editor.
I don’t think “newbies” who visit this board realize what pure gold you offer.
I do.
And I thank you once again.

I'll second that motion, would love to see you write a book Cobra! And thanks again for all your help.

$10 to have commentary from a snake is super cheap. It looks to me as if grind lower today and tomorrow. Friday / Monday will be the backtest.