Cobra's Market View

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Gap up along the Friday's high, so not sure if the gap will be filled or not.

The Global ES looks good as I see an Ascending Triangle in the forming, so we're more likely to see a breakout on the upside, hopefully today. The breakout has to be decisive though otherwise it's still "2 legged up and 3 push up on the 2nd leg up indicating the lose of up momentum". So let's see. May the force be with bulls!

On the breakout , most likely we should hit the target of this pattern(as indicated in your post?) right ? If its not a weak "bounce" of course.

Looks more like a bear flag or some sort of wedge to me, but I'll stay neutral now, which I think is wise. No sense shorting here, when we all know that if 1290 breaks? things get ugly.

afternoon folks!

Looking for strong move to1333 before a small pullback then up to 1350,course not all today

Richarab wrote:afternoon folks!

It's 8:26 am central time. It's 6:26 am in San Francisco

the open.

I sold my XME 42.06

Petsamo wrote:

Richarab wrote:afternoon folks!

It's 8:26 am central time. It's 6:26 am in San Francisco

435pm middle east

Something bad must have happened in Spain. EWP is down big

FB new low
today options start trading on FB

resistance is clearer on the 60 min chart.

consumer confidence coming at 10:00 ET
consensus estimate 69.7
chart shows last time it was this hi was about feb 2011
http://mam.econoday.com/byshoweventfull ... &lid=0#top

Petsamo wrote:Something bad must have happened in Spain. EWP is down big

85 billions needed for banks and districts ... 2 times more than expected 2 weeks ago !
More, Catalonia (the richest land of spain) needs the help of the Spain State as they have no more access to markets due to their colossal debt...

champix wrote:

Petsamo wrote:Something bad must have happened in Spain. EWP is down big

85 billions needed for banks and districts ... 2 times more than expected 2 weeks ago !
More, Catalonia (the richest land of spain) needs the help of the Spain State as they have no more access to markets due to their colossal debt...

I did a good job playing Spain.

Market Neutral.
Still watching the Dow.
It has only made one push down from the high and is doing some corrective bear flagging.
Looking for a second push down to get to a bottom.
Problem is that that seems too pat.
So, the market ought to do something to make things more confusing...

we have the OR, let's see in which direction it breaks out first.

CONFIDENCE WORSE THAN EXPECTED AT 64.9
huge bot selling

1min internals
Nyadv >2300

well, hopefully it's a valid breakout. target SPY 133.92 or ES 1334.00. Only 60% chances.