04/06/2023 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?

[JFR]

ES daily.

Day 2 of a pullback from the high of April 4.

Trendline still up. Well above the EMA 20.

[JFR]

ES 60 minutes.

A bounce at S1, up to the Pivot. Now in a broken range between the Pivot and 4107.

[JFR]

Source:

https://www.cnn.com/2023/04/06/investin ... index.html

Excerpt ...

Not my opinions. Not my data.

The US economy is unwell. April could be a cruel month

By Nicole Goodkind, CNN

Published 7:01 AM EDT, Thu April 6, 2023

CNN

After months of a remarkably strong US labor market and economy, everything seems to be slowing down.

The latest high-frequency data shows that the consumer could be running out of steam, hiring activity is moderating, business activity is softening, interest-rate sensitive sectors are pulling back and housing is suffering.

The question is whether Friday’s monthly jobs report, easily the most anticipated piece of data out this week, will confirm the trend.

The unflinching resilience of the US labor market is one of the greatest sources of tension in today’s economy. Federal Reserve officials have said employment numbers and the pace of wage increases need to shift lower before “sticky” inflation can be overcome.

Over the past year, the Fed has raised interest rates from nearly zero to a range of 4.75% to 5% to cool the economy. But jobs numbers have blown past expectations for the past 11 months. Unemployment currently sits near historic lows at 3.6%.

A slowdown in the official US jobs report Friday could signal an economic sea change.

[JFR]

ES 5 minutes.

Testing down. Seeking a breakdown out of the range.

[JFR]

ES 5 minutes.

Big move down, through the Pivot, through S1.

Not in a bearish frame of mind today for scalps and day trades. And for stocks I am almost always a bullish trader. Taking a break, back later ...

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[Al_Dente]

QQQ box target met

[Cobra]

Higher low or not (green arrow), break the blue line above to confirm.

[Cobra]

Members only update at 12:03 pm
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[JFR]

ES 5 minutes.

Nice run up. I missed it. No worries. There are many opportunities on the markets.

[JFR]

UWMC has had a nice run. And there might be more in the tank.

Later ...

[Cobra]

Members only update at 3:38 pm
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[Cobra]

Members only update at 3:55 pm
http://www.cobrasmarketview.com/2023/04 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

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/ ... /533449377