Cobra's Market View

Here we go !

I think the market will sell off in the last half an hour as bulls will not want to hold long positions over the weekend due to the uncertainty.

We are NOT going down today that's for sure.

Well done Cobra. You were right about MAJOR resistance at 2570ish area. Now lets see if it drops below yesterdays morning filled black bar at 2520.

Breaking below 2700 on SPX would be extremely bearish. Lets see.

Traders often drive the market up ( when down on open) to let retailers think its up all day and then dump after they have come back from their liquid lunch. Todays movement is very familier.

It still has to visit sub 2740 based on hollow red bar a couple of day ago as you said

Next stop 2620. Lets see.

Thank you, uempel! :D hi uempel are the first 2 ellipses drawn the ones that touch on the peaks and troughs of prices ? and then you draw the other higher ellipses ? just trying to follow and understand. thanks. This is a reminder. Most likely a squeeze tomorrow ... hgztuu.png System works like thi...

uempel wrote:Last chart, guys I'm off for a few days

SPX8.png

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