tag:blogger.com,1999:blog-1523319707289548972.post1373797560154152670..comments2023-09-26T11:49:31.690-04:00Comments on Cobra's Market View: 02/06/2009 Market Recap: Innocent (Up) Until Proven Guilty (Big Gap Down)Cobrahttp://www.blogger.com/profile/09332879456290234613noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-1523319707289548972.post-40917970935609176472009-02-09T16:05:00.000-05:002009-02-09T16:05:00.000-05:00Hi, Austin,After big gap down, the market will gen...Hi, Austin,<BR/><BR/>After big gap down, the market will generally continue to sell off for a few days. If after a few days sell off, no lower low on daily chart, then market could be up again, ortherwise the market is probably topped, we'll see another leg down.Cobrahttps://www.blogger.com/profile/09332879456290234613noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-20965848193103209312009-02-09T05:44:00.000-05:002009-02-09T05:44:00.000-05:00FYI, this is probably going to be one of those wee...FYI, this is probably going to be one of those weeks in which there is so much fundamental news that a "pure chartist" perspective may trip you up.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-19545511442528911482009-02-09T01:15:00.000-05:002009-02-09T01:15:00.000-05:00Hi Cobra, you said that low CPC means a few up day...Hi Cobra, you said that low CPC means a few up days until one day the market opens with big gap down. Could you tell what usually happens after a big gap down? Decline from that point on or the up days continue before putting in a market top? Thanks, regular reader, great site..JKhttps://www.blogger.com/profile/12050527183884705506noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-79211233199167485802009-02-09T01:11:00.000-05:002009-02-09T01:11:00.000-05:00This comment has been removed by the author.JKhttps://www.blogger.com/profile/12050527183884705506noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-85585492864104632392009-02-09T00:09:00.000-05:002009-02-09T00:09:00.000-05:00Thank you for adding 30-min charts for XLE, XLF an...Thank you for adding 30-min charts for XLE, XLF and USO! We appreciate you acting on our request!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-30706901780795401862009-02-08T23:17:00.000-05:002009-02-08T23:17:00.000-05:00hi YP! Great column regular reader. Answer to you...hi YP! Great column regular reader. Answer to your question.."Are we still in a bear market"...you can bet the farm that we are still in a bear market. What out when deflation really takes hold of this market. SPX at sub-500??? Very much a possibility. Longest ever bull market is over and done with. <BR/><BR/>That big down move should happen Monday morning.Thetahttps://www.blogger.com/profile/17371870382262188397noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-89765386127118434802009-02-08T22:15:00.000-05:002009-02-08T22:15:00.000-05:00I don't think it's a double bottom. And I do belie...I don't think it's a double bottom. And I do believe there'll be a big pullback sometimes this year.Cobrahttps://www.blogger.com/profile/09332879456290234613noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-25872754678819256652009-02-08T22:02:00.000-05:002009-02-08T22:02:00.000-05:00Cobra, sorry to bother you again. I have a general...Cobra, sorry to bother you again. I have a general question regarding stock market cycle which I wonder if you could answer me. <BR/><BR/>Utility sector has been outperforming other sectors for quite sometimes. According to John Murphy's website, this means we are in a middle bear stage. Does that mean there will be another strong pull back sometimes this year before we see market at bottom?<About This Bloghttps://www.blogger.com/profile/15469960869911352089noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-91614629964268276462009-02-08T21:06:00.000-05:002009-02-08T21:06:00.000-05:00Cobra:Is SPX on daily chart forming a small double...Cobra:<BR/><BR/>Is SPX on daily chart forming a small double bottom? I believe it broke above the major resistant trend on last Friday, but the volume wasn't impressive. Do you think that it will re-test the major trendline on Monday before rallying? <BR/><BR/>So far, it has been making higher lows in the last 3-month. It doesn't look like November's low be tested again, does it?<BR/><BR/>Thanks.About This Bloghttps://www.blogger.com/profile/15469960869911352089noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-23676365328544389182009-02-08T19:32:00.000-05:002009-02-08T19:32:00.000-05:00Yes, correct. But the question is: Are you sure we...Yes, correct. But the question is: Are you sure we're still in bear market. :-)Cobrahttps://www.blogger.com/profile/09332879456290234613noreply@blogger.comtag:blogger.com,1999:blog-1523319707289548972.post-18870488064800889362009-02-08T19:13:00.000-05:002009-02-08T19:13:00.000-05:00Regarding the question, "Does extremely low CPC le...Regarding the question, "Does extremely low CPC lead a market top?", it looks like based on your chart, during a bull cycle it is less likely to signal a big move down -- more like trading sideways (a breather for the bull), but in a bear cycle, it always seems to indicate a big move down. That was my observation.Anonymousnoreply@blogger.com