Cobra's Market View

From " It is what it is department" Key focusBullish short term momentum. Trade what's in front of you not what you want it to be. A strong turn on Summation index and $BPSPX tell me short term bottom is in. Short term momentum is strong, bullish bias. Short term trend is up, dip will be bought. Intraday level, Friday got a lot of doubt on this run up? well, inside day is no man's land, this is neutral, indecision on intraday level, neither bullish nor bearish. IF Friday were settled below 38.2% I would see this as a Bearish Harami or a Bullish Harami if it were to settled above 61.8%. day trade made simple on the inside day trading by using the previous day Fib as guide line. keep it simple. going into next week I am bullish until we clearly trade down out of Thursday's range and below 5DMA. we will know bull or bear before market open Monday. Keep it simple, Peace!

https://stockcharts.com/public/1684859

https://www.youtube.com/watch?v=K0HLUa4zTXQ

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Al_Dente and BullBear52x, you can chart this using the Stockchart symbol: !BINYADR
Set the Type: Solid Line to 0.0 Opacity, add the 10ma & 20ma and a Horizontal Line at 2.0 ...

Walter Deemer - BREAKAWAY MOMENTUM 101
https://www.walterdeemer.com/bam.htm

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QED wrote:.
Al_Dente and BullBear52x, you can chart this using the Stockchart symbol: !BINYADR
Set the Type: Solid Line to 0.0 Opacity, add the 10ma & 20ma and a Horizontal Line at 2.0 ...
Walter Deemer - BREAKAWAY MOMENTUM 101
https://www.walterdeemer.com/bam.htm
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thanks boss, that's valuable stuff

Weekend indices traded unchanged to down 1.5%, now consolidating minus 1% before futures open Sunday night.

Great article, scroll down to chart, similar patterns when markets end down January, AND also take out December lows.....we could be in an SPX range of 1800/2000 to 2800/3000 for many months.https://www.zerohedge.com/markets/bull- ... -rules-now

My read on spx bullish percentage jump to 70% is that it might sucker in some weak longs, a bit early to call an end to a new bear market. ST traders might benefit being long, IT traders uncertain for awhile. I think LT investors will continue to want to sell.

Thanks for all the great charts and informative reading.

4 Cobra Signal Watch UPs

SP.1 Jun Futes BUYING > 2,445.00

relief rallies likely to end up being faded
JPMorgan equity strategist

BULLYA

IMF CONFIRMS WORLD IN RECESSION

BULLYA

Heck wrote:HA Target + 146 %
From 11 to 27.01
+ 4.3 % Dividend

22 % ROE

HA Target + 71 %
From 9.61 to 26
+ 4.9 % Dividend