Cobra's Market View

Small gap down at the low of yesterday, so no idea if the gap will be filled or not. For now seems nothing to worry about unless bears show real strength upon the opening.

MORNING!

Cobra wrote:Small gap down at the low of yesterday, so no idea if the gap will be filled or not. For now seems nothing to worry about unless bears show real strength upon the opening.

it's bullish by the TV, lol.

small volume during rally, lack of retail investor during rally, so on.

Morning.
/ES update: http://99ercharts.blogspot.com/2011/04/es_05.html
Good luck.

EURUSD
Euro...trashed.
http://99ercharts.blogspot.com/2011/04/eurusd_05.html

GM

Another day....The NYSI peaked in SEPT 09 and has been in a negitive divergence since then. It now sits at 643.82. The top is in the 700-725 range.It will have to break thru this area, if not I belive we will visit the 1250 area.

The open.

The VIX not up too much considering the drop, financials and REITs are participating in the selling. Looks a little bearish for the time being. Depends on the gap fill.

Yes seasonally its generally very positive BUT: since 1990 tues and wed were down on avg -.43% the third year in a presidential cycle, so look for a bottom today or tomorrow at the latest!

Recall the MACD coil breakdown. The target was -2.5 on MACD which implies some selling, but sometimes the coil target is not met.

MN,
I think we will get trend day finally.

By trend day you mean down day?

judging by green and pink, I don't see much bearish sign yet SO FAR.

SPX
Three targets.
http://99ercharts.blogspot.com/2011/04/spx_05.html

little trend line here.

alvian33 wrote:By trend day you mean down day?

trending down , yes, I think so.

Overview:

Doesnt look so far like we can ever go dowb

ES has problem with 5dma as a resistance.