04/03/2023 Live Update

[Cobra]

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Triangle, bias is a little bit up.

[JFR]

ES daily.

Day 16 on the move up since March 13.

Not bearish. Maybe a bit bullish. At the top of the previous hella bullish marubozu candle.

Anything can happen. And will.

[JFR]

ES 60 minutes.

Up. Up. Up. Then flat.

In a range for a number of candles. Touching down on the EMA 20.

[JFR]

ES 5 minutes.

In a shifting range, moving from level to level.

Choppy.

Riding the EMA 20.

[JFR]

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

Fear and Greed.

Oh MY. We are back into Greed Country.

Does this Index have any value? Sure. Some. Mostly as a background number, at the back of the mind. IMO.

[JFR]

Source ...

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

Market drivers

Saudi Arabia and other OPEC+ members announced Sunday that they would make production cuts totaling around 1.16 million barrels a day beginning in May, while Russia said it would extend a March cut of 500,000 barrels a day through the end of the year. OPEC+ is made up of the Organization of the Petroleum Exporting Countries and its allies, including Russia.

“Given the lack of alternative non-OPEC supply, the group has significant pricing power relative to the past,” said Stephen Innes, managing partner at SPI Asset Management, in a note. “And to the dismay of global leaders, OPEC has decided to draw a hard line at Brent $80 per barrel for self-serving economic interests. But this surprise cut is consistent with their new doctrine to act pre-emptively because they can do so without significant losses in market share.”

The move came after Saudi officials were irritated by recent comments from U.S. Energy Secretary Jennifer Granholm, according to the Financial Times. Granholm said it would be difficult for the U.S. government to take advantage of lower oil prices to begin refilling the Strategic Petroleum Reserve due to maintenance issues.

Not my data. Not my opinions.

[JFR]

ES 5 minutes.

They are off and running.

Got some stuff to do. Back later ...

[Cobra]

Members only update at 10:08 am
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[Cobra]

EMA20 now is the bulls' last stand. Let's see whether bulls are willing to stand. Doesn't look good for now though.

[Cobra]

Members only update at 12:06 pm
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[JFR]

ACI. Albertsons.

Still running well.

[Cobra]

Higher low so the low was in for today?

[BullBear52x]

Think auction! after a failed bid up, we are going sideways, closed here or lower will give us a negative price action going forward.

[BullBear52x]

Knock on the heaven's door, the individual investors are not so excited, what do they know?

[BullBear52x]

SPY, a kiss?

[JFR]

Alternative markets.

Up: DBC, GLD, TLT, USU.

Down: IYR, UUP.

Relatively flat: SPYG, SPYV.

[Cobra]

Members only update at 3:33 pm
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374