05/29/2020 Live Update

[JFR]

SPY 15. Point and Figure.

[MrMiyagi]

Probably another news. Possible higher low, i.e. bears were over, if no further pullback from here. Key time.

US-China Phase I deal is still on according to peeps. Trump didn't yap yet, was due at 14:00 ET, he's actually tweeting at 14:20 ET about some shit he said.

[JFR]

ES 5. In a tight squeeze between different levels of S/R. Which way is it going to break out? One might think up, but ya never know for sure.

[JFR]

ES 5. Poking its nose out.

[Cobra]

It's a measured move, if 100% target can be reached then this bull may still have another leg.

[Cobra]

Not 100% mm, but still more likely the pullback will be bought. The close today would be interesting as People will have to weight on what Trump is about to do with Hong Kong. I don't expect he to revoke the Hong Kong's special status.

[JFR]

ES 5. We've been here. As Yogi Berra said: "It's deja vu, all over again."

[Cobra]

Must be another news.

[JFR]

ES 5. OMG. LOL. Insanity.

Fortunately I am ahead of the game so far today. That is enough for now. Stay safe. Stay healthy.

[BullBear52x]

LOL it's Friday....desperate moves.

News or TA....choose one.

[Heck]

Goodbye China, Hong Kong, South China Sea and WHO

$SPX SELLING < 3,045.13 edit

red close ?

[BullBear52x]

I am here as observer, Desperate people do crazy stuff. if closed in red today it will spell TROUBLE. That can not happen or can it?

[BullBear52x]

I saw the first two un-reasonable spikes I walked out. ain't play this BS game no more.

[Heck]

I am here as observer, Desperate people do crazy stuff. if closed in red today it will spell TROUBLE. That can not happen or can it?

Don't like news ?
Abhor fundamentals ?
The Price Trend is Right !
Down since 19 Feb 2020

Zombie Market years ahead of America Corona Bandit Economic Lockdown Reality
40 million Americans unemployed + 117 million working age out of labor force = 157 Million Americans vs 123 million working Americans
States cannot afford to pay soaring unemployment claims or pensions
CA $55 Billion Budget deficit, paid 1 out of 8 claims, cut contributions to CALPERS
NY $6 B Budget Deficit, 89,000 unpaid claims
$1200 Fed STIM not cutting it for most Americans without income
Food Banks Swamped
WMT selling used clothes to stay open

Zombies not buying economy or market still dip buying and discounting Blue Sky Eternity with 23 March 2020 V Bottom
Institutional Investors record short
Looks like DOWN to me

SPY Dynamic PnF Target - 55 %
From 303.14 to 135.28
- 1.9 % Dividend

The market is fair
It gave US many opportunities to sell at 10 % higher prices
Bonds, Crude, Dollar and Precious tell the story of debt default deflation

[Cobra]

Now hopefully technical factor finally back in. For now the bias is up. Trading today with stop loss would be a nightmare.

[JFR]

SPY 5. Waiting for the next breakout.

[JFR]

SPY daily. Point and Figure.

[Cobra]

Members only update at 3:35 pm
http://www.cobrasmarketview.com/2020/05 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2020/05 ... 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