Cobra's Market View

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Flat open, so any gap will be filled.

Could be Double Top on the Global ES, so might see pullback here. Target ES 1377.25 if indeed. Again, as long as the thick blue line below holds, the chart is bullish.

Morning Cobra! This market just won't drop eh?

es 5min is like H&S, but on small scale the premarket is also like IH&S. any pattern reading gugu can comment?

knock wrote:es 5min is like H&S, but on small scale the premarket is also like IH&S. any pattern reading gugu can comment?

2 legged down to break yesterday low? could it be possible?

the open.

I hope cobra's top call is in effect today

EvilTrader wrote:I hope cobra's top call is in effect today

usually you have to wait until the day when people jumping out pointing to me: you're so bearish biased. I don't see this day yet.

very strong start.

Summary:( wholesale inventories due out later )

Weekly initial jobless claims fell to 361,000 last week (370k expected). However, the four-week moving average, considered a smoother look at the trend in claims, rose to 368,250, and continuing claims increased to 3,332,000 (est 3,275,000).

The trade balance showed that the deficit shrunk more than expected to $42.9 billion in June, versus estimate of a decline to $47.5 billion). Imports fell 1.5% (m/m) to $227.90 billion, while exports rose 0.9% to $184.97 billion

Chinese inflation fell to 2.5 year low (CPI 1.8% v 1.7% expected). China had a data dump today and it all points to the government carrying out more stimulus to boost the slowing economy. Producer prices fell more than expected. Industrial production rose at a smaller rate than projected to the slowest pace since May 2009, while the country's retail sales increased at a pace that missed expectations.

Australia's unemployment rate came in below projections. Australia's resource-reliant economy could be hampered by the slowdown in China. India's industrial production unexpectedly fell in June. The Bank of Japan, as well as the Bank of Korea, kept their interest rates unchanged as expected. Japan's consumer confidence deteriorated more than forecasted in July and Japanese machine orders rose at a smaller rate than expected for June.

Cobra wrote:

EvilTrader wrote:I hope cobra's top call is in effect today

usually you have to wait until the day when people jumping out pointing to me: you're so bearish biased. I don't see this day yet.

We have the same 'fight' at home. Hubby very bearish at this point!

Cobra wrote:

EvilTrader wrote:I hope cobra's top call is in effect today

usually you have to wait until the day when people jumping out pointing to me: you're so bearish biased. I don't see this day yet.

Im definitely bearish biased, but cool with that, and managing my risks too.

GOAL

congrats to the Canadian women!! For the bronze over the French in soccer. US in a rematch of last years World Cup final takes on Japan for the gold.

I sold UAL yesterday for a 0.7% gain but it didn't do what I wanted it to do. So, I'm trying this again, repurchased UAL at $17.99, again, 80 shares only.

The low yesterday was right at the open could today be the same. Looks to me like bulls just spending time making sure that everybody gets a good exit price and some profits. I will sit on my hands until a trend starts to grab hold again.

nothing to say. looks like another range day today.

Looks like a Diamond on SPY. Continuation pattern. Should be up, up and away.

I wouldnt think so.

Market is unpredicatable.

Only you manage your risks and increase/fold positions.

I wouldnt think so.

Market is unpredicatable.

Only you manage your risks and increase/fold positions.

TWO minutes
Adv 1500
Dec 1100

140.66 act a a heavy defense zone for bears.