Cobra's Market View

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Maybe will test the line above? Trend day possible, either up or down.

The members only update starts here: http://www.cobrasmarketview.com/2020/09 ... ay-update/

ES daily. Up to the EMA 20.

SPY 5 minutes. Opens up 2.61.

The start feels like an uptrend day

Dow 30. Lots of green. Led by AAPL, MSFT and CRM. Trailing CAT, TRV and JPM.

testing the water, can't be too bearish today, market wants up. sell first will see from here.

R/R is not bad here for bears.

ES 5 minutes. Busy trading some Dow stocks, and some dividend stocks, and meantime ES is chopping, chopping and chopping.

Back later ...

They make it easy for me today, what a lucky start.

Is the bigger channel now up??

Multi time frames:
Daily = Buy, on a buy
Hourly = Buy the dip, last sell fails
5 min. = Buy the dip, last sell fails

Fib measurement, couple more resistance levels before bulls can say that they are out of the woods. overnight gap will only make me want to sell into it more here until we can see a clear trade above 61.8%

11 a.m. news conference
congress may have a deal on the stimulus package

Don't know the direction yet, for now looks like a range day. Gap up then pullback to EMA20 so far it's a normal pattern. Wait to see whether the EMA20 could hold.

BIG TECH %, last 10 days
TSLA (green dashed line) is up about 100 points in 5 days

BullBear52x wrote:Multi time frames:
Daily = Buy, on a buy
Hourly = Buy the dip, last sell fails
5 min. = Buy the dip, last sell fails

Before I take a serious break, having read some news and sports, let's play this again. Ha ha

Daily: Flat. Nice trend up, but on a serious pullback, starting to edge up a little bit.

60 minutes: Long, but not strong. At a point of resistance.

5 minutes: Long, but stuck in a base, after a gap up opening.

Now for a longer break, away from the keyboard.

SPY 5 minutes. Riding the EMA 20.

zh: the simple fact is that 2020 has been a year of two trades: long tech, which is up 25% YTD, or long everything else which is still down for the year.
Chart:
https://www.zerohedge.com/s3/files/inli ... k=pgc3Y-65

Follow the math: