Cobra's Market View

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Small gap up within yesterday's range, so the gap might be filled.

The Global ES had a strong coming back overnight (like it has always happened since the year 2009). Let's see how this rebound can go, it should be 2 legged rebound but normally the overnight low would be revisited sometimes later (I'm not saying today), as the chart pattern still looks incomplete. Oh, gold rises sharply, this is a sign that people are now expecting QE3.

Cobra , dont you think a move up to fill gap at SPY 136 is possible ?

The second question is ,, if its a 2 legged up and we are on the first leg now ,, then most likely the second leg will be as big as the first one which would mean we can go even higher ?

Hi folks, dollar chart from the European morning - topped out I expect pullback to 83 - 82.80

(not updated) Gold (eur) breakout Gold (usd) SP target could be 1350 or so IMO ("A" leg) glad I went long yesterday

GL ALL

GM to all!!!
KeiZai, when you have time would you post an updated cart on ABC??
Thanks in advance

TraderJoe wrote:GM to all!!!
KeiZai, when you have time would you post an updated cart on ABC??
Thanks in advance

HI TJ!
Yes right now she is at the strong support, 5 waves are done so she is going up today IMO

4H chart 1H For me she is a one of the long-term trades so I am not scared after small pullback

I'm heading back to school soon, and I gotta get outta this game in order to pay for tuition. Would you guys say now is a good time to pull my positions out into cash before it sinks further?

CarlosDK wrote:The second question is ,, if its a 2 legged up and we are on the first leg now ,, then most likely the second leg will be as big as the first one which would mean we can go even higher ?

the 2nd leg usually smaller than the 1st leg.

CarlosDK wrote:Cobra , dont you think a move up to fill gap at SPY 136 is possible ?

Don't know.

From Cobra's morning chart, the possibility for the market to play out is like the earlier fractal. I am leaning towards the long side till July31st/Aug 1st unless the lower low from yesterday breaks. We are in a channel and it is a BTFD until the stops are popped and the channel broken for good. GLTA.

BTW my view for today is that we are in the 4th wave, then will come 5th wave up and then back down (lower low)to make the B wave then back up C wave to complete the whole wave 2 JM2C

something like that

the open.

ibopm wrote:I'm heading back to school soon, and I gotta get outta this game in order to pay for tuition. Would you guys say now is a good time to pull my positions out into cash before it sinks further?

Good morning hardworking college student:
that is a great question!
Read thru the weekend update, there are strong bullish seasonal patterns for July-Aug in election years and an upside bias to equities going into end of election year...contrasted with fundamentals that seem to hint at recession here/deperession if europe blows....
for today listen for a few media talking heads pointing out "hindenburg omen" if you are a contrarian!
GL!

Hit the Turbo Miyagi!!!!!

We need a strong start to squeeze those bears (since we are, you know = bullish biased here )

Ok, I'll be nice.

Mr. T wrote:Hit the Turbo Miyagi!!!!!

We need a strong start to squeeze those bears (since we are, you know = bullish biased here )

Ok, I'll be nice.

HAHAAAA IT WORKS THX MIYAGI!

Mr. T wrote:Hit the Turbo Miyagi!!!!!

Ok, I'll be nice.

Mr T, you were being nice I think

GM, I got sell from the get go this must be "A" spot right boss?

BullBear52x wrote:GM, I got sell from the get go this must be "A" spot right boss?

Little bit higher wait 50mins or so, rally will fade classic tick-tock time

relative strength

KeiZai wrote:

BullBear52x wrote:GM, I got sell from the get go this must be "A" spot right boss?

Little bit higher wait 50mins or so, rally will fade classic tick-tock time

I got to stick with what I know here is a go me thinks