Cobra's Market View

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Gap up above Friday's high so the gap might not be filled.

The Global ES had an overnight excitement then perhaps the reality came in somewhere so ES pullback to the previous high which now is the support, the chart still looks not bad but, no more pullback allowed here otherwise it'd be clear overlapping therefore implying the lose of up momentum, so may the force be with bulls, let's see.

For the few who remember: sent order to sell PLX today into the news of getting 25 M from Pfizer

...but holding ALXN for a breakout...soon

Morning all
Looking fwd to trader paradise with wild swings all week into the watershed event of Greece elections
In thailand - I can watch euro 2012 and trade all evening (830pm here)

the open.

Rut Ro!

cobra -- 2 legs down or 2 legs up? what do you see here?

looks like getting back 1/2 way to hi of the year last nite took some wind out of it

My post over the weekend said that this rally could fade as early as Monday morning...spx couldn't even get over 1335...

TraderGirl wrote:My post over the weekend said that this rally could fade as early as Monday morning...spx couldn't even get over 1335...

chart speaking loudly right now
could that be my range that i so desire this week?
what i nice .. broad ... range...

now it's officially overlapping, so not good looking.

We're never going up again.........

On the next bailout of 50 trillion, we'll get a 2 point SPX pop and fade that overnight to -600 SPX points.

I think Miyagai hit the turbo button, and didn't see that gasoline warning light was on.

Great going Pat Morita........ no wonder your back yard was full of new classic cars = when they ran out of gas, you parked them and bought a new car.
This is all your fault......

Partial Partial Long.
Last night's plus the opening trade looked like stop clearing.
The Spanish news is not being bought, perhaps as it was priced in last week.
I have a mildly overbought McClellan Oscillator after the open.
So, some kind of corrective action is due. Question is how far it goes.
The five day rising trend line seems to be getting broken as I write.

I got another buy signal Friday, but with some flaws.
Perhaps it is a bull trap, but my bias for now will be to add to long on a downdraft but not be aggressive.
It would be constructive to see a bull flag or consolidation pattern of some type take shape over the course of the week, but we'll just have to see how things unfold.

this is a 2 legged pullback at least.

So far my bullish scenario ain't visible...

A lot of people with stunned "whuuuuu???" faces today.

Cobra wrote:this is a 2 legged pullback at least.

if this back kisses tradergirls chart she posted - would this be bullish sentiment? Monday OPEx week is usually bullish ?

support or failure on the lower blue trendline?

Cobra - is this still the 1st leg down?