Cobra's Market View

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I don't know what pattern it is on the Global ES, I read it favoring bulls though because the pullback and revisit of the pullback low formed a higher low (possible double bottom), so at least it's bulls' turn to prove themselves.

members only update starts here: http://www.cobrasmarketview.com/2013/06 ... ay-update/

I don't know what pattern it is on the Global ES, I read it favoring bulls though because the pullback and revisit of the pullback low formed a higher low (possible double bottom), so at least it's bulls' turn to prove themselves.

Just an observation, seems like the blue diagonal line is a pivot if you look at the closes (not the tails) of the candles.

Cobra, have you seen this before and, if so, what is your take on it?

67Chevy wrote:

I don't know what pattern it is on the Global ES, I read it favoring bulls though because the pullback and revisit of the pullback low formed a higher low (possible double bottom), so at least it's bulls' turn to prove themselves.

Just an observation, seems like the blue diagonal line is a pivot if you look at the closes (not the tails) of the candles.

Cobra, have you seen this before and, if so, what is your take on it?

Similar patterns on the Weekly/Daily VMW chart where VMW is still below the diagonal trend line and on the Daily MRK chart where MRK was able to break above the diagonal trend line (pivot as you say).

Just interesting to see similar patterns.

jarbo456 wrote:

67Chevy wrote:

I don't know what pattern it is on the Global ES, I read it favoring bulls though because the pullback and revisit of the pullback low formed a higher low (possible double bottom), so at least it's bulls' turn to prove themselves.

Just an observation, seems like the blue diagonal line is a pivot if you look at the closes (not the tails) of the candles.

Cobra, have you seen this before and, if so, what is your take on it?

Similar patterns on the Weekly/Daily VMW chart where VMW is still below the diagonal trend line and on the Daily MRK chart where MRK was able to break above the diagonal trend line (pivot as you say).

Just interesting to see similar patterns.

I see what you mean, thanks Jarbo. On the ES, it looks like a small H&S on top and a small IHS forming on the bottom...maybe the blue pivot is the neckline?

potential bullish SHS pattern

From MS:
Yesterday was the largest short addition day in almost 2 months - single name activity led by Multi/Macro funds

Think we might get slightly higher levels (not new highs) to sellinto next day or so, but this correction may still evolve into the bear market, GLTA
these buyers are looking for chnace to get out 9870ish area watching the downtrend in tick and volume above 75% line to see if bears are wrong

my medium term option positions are getting eaten alive. we're entering our 3rd week of just theta grind. nominal highs/nominal lows.

Long 163.84. yen may have stabilized for the morning.

Turkey riots

Out of Bounds wrote:Long 163.84. yen may have stabilized for the morning.

Crap - not this again...

wayne0708 wrote:potential bullish SHS pattern

Not that it wont work, but that pattern is getting a lot of attention which certainly makes trading it successfully a dicier proposition.

Tutti wrote:

wayne0708 wrote:potential bullish SHS pattern

Not that it wont work, but that pattern is getting a lot of attention which certainly makes trading it successfully a dicier proposition.

Key word is potential so trade with discretion
pay attention to neckline or if you have bigger risk tolerances go long now with high hope of pattern to play out

Once again, according to ISEE, option traders are buying single-stock-equity calls, and index puts.
F5 will refresh this link; it needs patience (link courtesy Heck)
http://www.ise.com/market-data/isee-index

We need to squeeze those bears..... they getting fat and lazy.

Mr. T wrote:We need to squeeze those bears..... they getting fat and lazy.

Squeeze them hard mr. T

Chris Bosh does not move his feet.

if we get a green hrly bar here, I think today low is in.