Cobra's Market View

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

Global ES is testing the resistance, no idea whether it would break through on this attempt, the bottom line is the bull has more legs so maybe a break through is just matter of time?

DAX looking good.

Momentum is with the Bulls. Let's see if they can hold onto/extend pre-market gains.
Good luck bulls

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Good morning traders!

As i showed yesterday, TNA seems to be possibly making a Bull Flag with potential higher highs to follow.

Pre-market has TNA @ 66,40, right at the top of the channel.
A break upward would be bullish. It would also result in a system buy signal so i would be a 'swing' buyer of TNA.

Asian markets closed only slightly higher today. Hmmm

Anyone knows how much was SPY dividends?

COBRA:::

IF WE MAKE NEW HIGHS soon - what is the TEXT BOOK TARGET on SPY ?

Just a reminder: SPY dividend today, so the price appear down for now but it's simply not true.

In my screen Global ES already broke resistance...

CarlosDK wrote:COBRA:::

IF WE MAKE NEW HIGHS soon - what is the TEXT BOOK TARGET on SPY ?

Check the weekend report on 09/14 Market Outlook.

the open.

Is there some effect from SPY dividend over the ES?

In the futures, we finished a 5 wave move to the upside. It began yesterday morning and finished just before open today. Should be a corrective ABC move to the downside today.

Update:

Thanks Trading Jackal.

...but don't you think we'll try the top again before the new bearish pattern?

We go to new highs next week Cobra ?

nothing to say. this rebound is the 2nd test of the previous high so no failure allowed for bulls here otherwise finally we'd see a lower high.

quientuves wrote:Thanks Trading Jackal.

...but don't you think we'll try the top again before the new bearish pattern?

yes

CarlosDK wrote:We go to new highs next week Cobra ?

no idea.

uempel wrote:Update:

36.png

UEMPEL..Your charts are great..How you can come up with them is something else..Thanks.