Cobra's Market View

After being up for awhile the up bars get wider and wider usually is a sign of exhaustion so a pullback could be due. "This bull shall have legs" means the pullback probably will be bought. So exhaustion bar doesn't conflict with "this bull shall have legs".

Cobra wrote:After being up for awhile the up bars get wider and wider usually is a sign of exhaustion so a pullback could be due. "This bull shall have legs" means the pullback probably will be bought. So exhaustion bar doesn't conflict with "this bull shall have legs".

So when you say "this bull shall have legs", do you in general imply that there probably will be a pullback, but the pullback probably will be bought, so there will be a leg up? Because there is a pullback, so when the pullback is bought, it's another up which is another leg.

Or it doesn't necessary mean there may be a pullback, and it can be just a simply another straight up? Thanks!

mayflower999 wrote:

Cobra wrote:After being up for awhile the up bars get wider and wider usually is a sign of exhaustion so a pullback could be due. "This bull shall have legs" means the pullback probably will be bought. So exhaustion bar doesn't conflict with "this bull shall have legs".

So when you say "this bull shall have legs", do you in general imply that there probably will be a pullback, but the pullback probably will be bought, so there will be a leg up? Because there is a pullback, so when the pullback is bought, it's another up which is another leg.

Or it doesn't necessary mean there may be a pullback, and it can be just a simply another straight up? Thanks!

It doesn't necessarily mean a pullback, can go straight up but still the very first meaningful pullback likely would be bought. The longer the up straight the better chances the pullback would be bought.