Cobra's Market View

ES 5 minutes.

Testing down. 5239.

Later ...

ES 5 minutes.

Testing down. 5241.50.

Back later ...

https://www.cnn.com/2024/04/01/investing/premarket-stocks-trading/index.html Con men and grifters like the excitement of their game. They usually end up getting caught, as they cannot resist the rush. New York CNN Sam Bankman-Fried was sentenced to 25 years in prison last week for defrauding custome...

The indexes are all in the red.

More down?

ES 5 minutes.

Finding some support at S2.

The bears are taking the day so far.

ES 60 minutes.

Down. Down. Down.

All the way to S2.

Looking for a bounce.

ES daily.

Pullback to the bottom of the trading range. 5249.

Looking for some support there.

At the EMA 20.

CROX Crocs, Inc. Footwear. Founded in 1999. HQ in Broomfield, CO. Nice trend up starting in February. Crocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and H...

ES 60 minutes.

Fifty point fall.

Down through R2, through R1, through the Pivot, through S1, and through S2.

Finding some support at 5282.

ES daily.

Rejection at the top once again.

At the midpoint in a widening trading range.

Above the EMA 20.

Another range as it continues climbing the wall of worry.

SPY daily. Helluva move up since January. Trend up, as shown by the EMA 20. EMAs 20 50 100 all up, and in the right order. Bollinger up. Volume up 3 days in a row. In a range for 6 days. 2nd hit at the top, looking for a breakout. Very shallow pullback (a pause), then a bounce. Lots to like. As alwa...

ITB, Home Construction, has been doing well.

Two stocks, LEN and PHM, reflect that rise.

https://www.marketwatch.com/

The indexes are in the green, but right on the edge. Green-red-green, etc.

ES 5 minutes.

Chop. Chop. Chop.

Seems like a house of cards. Vulnerable.

But the money wants a place to park itself.

ES 60 minutes.

In a range for over 15 hours.

One failed breakout attempt.

But up from Wednesday's action around S1.

ES daily.

Up off support, to near the high of March 21.

Well above the EMA 20.

Hard to suppress the bulls.

ES 5 minutes.

Down to the Pivot.

Look out below. Dive. Dive.

ES 5 minutes.

The breakout attempt has failed.

Back in jail.

Likely to settle in the higher range, for the time being.

The indexes are up this morning.