Cobra's Market View

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Gap down below yesterday's low, so the gap might not be filled.

It's a Double Top breakdown on Global ES, I consider the target as being fulfilled though because I usually don't expect 100% text book target, Fib 61.8% at 1456ish is enough.

Covered shorts in the premarket and am looking to re-short upon any significant rally.

Amazing stuff posted last night! This just goes to show that this forum and group of traders is one of the very best! Thanks everyone.

members only update starts here: http://www.cobrasmarketview.com/2013/01 ... ay-update/

small double top on DAX, but it's too small to be any real threat for bulls, so normally the pullback will be bought.

Do you think it's a H&S Top on the Dollar index? $USD
https://stockcharts.com/public/1684859/ ... /268097948;

0612 am

SPY down .67

ES down 4.75

Charts of some interest

Out of Bounds wrote:Covered shorts in the premarket and am looking to re-short upon any significant rally.

Amazing stuff posted last night! This just goes to show that this forum and group of traders is one of the very best! Thanks everyone.

Second that. Thanks for the hard work, and the sharing.

Hi Cobra and any one else, does this XIV chart look reasonable? If so I probably really need to give up all hope on my UVXY position!

https://7103b3f2-a-62cb3a1a-s-sites.goo ... edirects=0

Looks like an inv H&S to me, how about you???

Momentum Block
Momentum across the board positive for equities;any correction will be limited.

A new VIXies M05 trading setup has been released. Comments/thoughts are welcome.
http://www.cobrasmarketview.com/2013/01 ... io-surges/

JFR wrote:

Out of Bounds wrote:Covered shorts in the premarket and am looking to re-short upon any significant rally.

Amazing stuff posted last night! This just goes to show that this forum and group of traders is one of the very best! Thanks everyone.

Second that. Thanks for the hard work, and the sharing.

I had no part of that effort. (Don't want to take credit for other's work)

the open.

Out of Bounds wrote:

JFR wrote:

Out of Bounds wrote:Covered shorts in the premarket and am looking to re-short upon any significant rally.

Amazing stuff posted last night! This just goes to show that this forum and group of traders is one of the very best! Thanks everyone.

Second that. Thanks for the hard work, and the sharing.

I had no part of that effort. (Don't want to take credit for other's work)

Thank you Harapa, Al and RUSROD.

The day has come, AAPL. Targets are being hit. The reversal will make 3x on weeklys/front months

short again 146.40

Not a valid breakout for me yet; I think this could be a "jab" then drop back into the wedge. Just an update for everyone.

Harapa wrote:A new VIXies M05 trading setup has been released. Comments/thoughts are welcome.
http://www.cobrasmarketview.com/2013/01 ... io-surges/

I just posted a chart of the Harapa-set up for stockcharts.com users, just below Harapa’s post (over on the members page that he just linked)
(thanks Doc )

Neutral.

My trend signal is up.
My summation signal is also up.

Going to the sidelines on Friday in spite of trend so far is being helpful and not hurtful.
I am watching carefully to discern whether/when to re-enter or to remain neutral.

For day traders, which I am not, ES made a picture perfect turn last night.
It is a textbook example of support becoming resistance.
I put up this chart yesterday pointing out evolving support (blue circles).
Last night we got our hourly close below the 100 MA nested between two 26 MA touches. Very cool IMO.
This makes me bear short term. Could be good trading today for some of you.