Cobra's Market View

Big board ticks starting to turn up...

So far so good. Added a stop loss above my entry, so should be good for now...

Looks like an uptrend day so far, I'm just not sure so no actions.

Took my profit here. Seemed to be stalling....

te_fern wrote:Took my profit here. Seemed to be stalling....

Probably back testing yesterday's high before it continues to run up, but......

The red line each day is the Point of Control from the volume profile. We are backing and filling. The DI ADX indicator system in box 2 shows no solid trend and chop for now. The 10:30 ramp was on time and strong today. We will see what happens after the European close in 20 minutes. Normally that is a major trend change time.

volume anemic. suspect more of a pullback b4 resuming uptrend. good support at 2840ish/18 day. maybe start with minutes later today into powell speech friday.

I keep forgetting to say on the 15 minute equivalent chart, (10,000 ticks) those horizontal gray zones are a type of pivot points called Jackson zones.

Yesterday's POC is where all those sell orders are in the order book at ES 2868 and so far they are not pulling them as price approaches.

Lifeguards are saying start getting out of the pool just in case.

Should be a non-event carefully orchestrated to reinforce the message to be delivered on Friday. I assume the message to be that they have a firm hand on the tiller and will stay their course until serious storms or reefs appear, and an angry President is neither. Some would say it is a ship of fools and I often agree but who would you get to replace them? The house Finance committee. Secretary Munchkin. Oh I just threw up a little!

Trades with cats wrote:Some would say it is a ship of fools and I often agree but who would you get to replace them? The house Finance committee. Secretary Munchkin. Oh I just threw up a little!

Patrick Chinamasa, acting Finance Minister of Zimbabwe? He is use to working with big numbers!

Nice double top for now as a capper on the advance. Big sell order never came back.
VWAP at ES 2863 I guess will stop the drop yet again.

Yes they made mention of all the concerns and then said another rate hike soon. Holiday Inn slogan "The best surprise is no surprise".

hopefully a double top here. I won't trade on it though.

well, guess that's it for today. Thursday tomorrow has been mixed. 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/tenpp