03/15/2023 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to cobra@cobrasmarketview.com.

=============================================================================================================================================================================

Higher low (red arrow) or not, wait and see.

[JFR]

ES daily.

Very large bear candle this morning.

Price is down since the start of February. 4 days of large candles, canceling each other out.

[JFR]

ES 60 minutes.

Lots of spikes the last few days.

Strong move down today, through the Pivot, through S1, and now looking for a support level.

[JFR]

https://www.cnn.com/markets/fear-and-gr ... ess_ribbon

How is it calculated? It is explained on the web page. Is it some kind of Holy Grail? Nope. Just another indicator. They can be helpful.

[JFR]

https://www.marketwatch.com/story/stock ... =home-page

Excerpts. The opinions and data are not mine.

U.S. stock futures were sliding on Wednesday as fresh concerns over the health of Credit Suisse sparked renewed banking sector anxiety, while U.S. wholesale prices declined in February, hinting at easing U.S. inflation, and retail sales also fell for the month.

How are stock-index futures trading

S&P 500 futures ES00 fell 82 points, or 2% to 3872

Dow Jones Industrial Average futures YM00 shed 682 points, or 2% to 31,706

Nasdaq 100 futures NQ00 lost 220 points, or 1.8% to 12,123

On Tuesday, the Dow Jones Industrial Average DJIA rose 336 points, or 1.06%, to 32155, the S&P 500 SPX increased 64 points, or 1.65%, to 3919, and the Nasdaq Composite COMP gained 239 points, or 2.14%, to 11428.

What’s driving markets

Major stock indexes extended losses after data shows that U.S. wholesale prices dropped 0.1% in February. Economists polled by the Wall Street Journal forecasted a rise of 0.3%.

See: Wholesale prices decline, PPI shows, and hint at easing U.S. inflation

The core producer price index, which excludes volatile food, energy and trade prices, went up 0.2% in February.

U.S. retail sales fell 0.4% in February, in line with the forecasts of economists polled by the Wall Street Journal.

Consumer price data released on Tuesday showed inflation running in February at three times the Federal Reserve’s 2% target.

Markets expect the Fed to raise interest rates by 25 basis points to a range of 4.7%% to 5.0% after its meeting on March 22nd. Just two days ago traders were betting the Fed may leave rates unchanged in a week’s time in order to salve stresses in the banking sector.

[JFR]

ES 5 minutes.

Flat for 3 hours. Needs a breaout.

[BullBear52x]

Same playbook, think auction.

[BullBear52x]

/ES 3865 is magnet.

[BullBear52x]

PPI didn't take us down, 200 MA resistance is...

[Cobra]

Members only update at 10:16 am
http://www.cobrasmarketview.com/2023/03 ... ay-update/

[Cobra]

Breakdown is more likely if bears can touch the blue line again which if indeed it'd be a downtrend day.

[JFR]

ES 5 minutes.

The base has moved up a bit.

Yet to make a decisive move since the open.

Back later ...

[BullBear52x]

Positive D. bulls normally will not wait too long to push this up. bottom might be in.

[BullBear52x]

A trade back inside day this time I will see it as a bullish piercing candle attempt. if not, then sideways, range day today.

[BullBear52x]

Bulls only need one reason to buy.

Bears will need 100000 reasons to sell, and still have to be quick. haha

[Trades w 2 Cats]

I have forgotten which floor of the Mariner Eccles building the Fed's Market Stabilization Team sits on. Critical information if you are going to make snarky comments.

Not snarky comment. European close seems to end the selling, just like the European open starts the selling.Thinking the Plunge Protection Team ( see above) needs to be showing up in the middle of the night.

[Cobra]

Members only update at 12:03 pm
http://www.cobrasmarketview.com/2023/03 ... ay-update/

[Al_Dente]

VIX is up 20.7% today to 28.65

[BullBear52x]

My red line, bulls are shocked today. Oy.....

[Cobra]

Testing day low, now let's see whether bulls can make double bottom here. Bias is down though.