Cobra's Market View

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No idea up or down from here. Possible range day.

The members only update starts here: http://www.cobrasmarketview.com/2020/11 ... ay-update/

ES daily. Big up day yesterday. Pullback today, catching its breath. Well above the EMA 20. So close to the top it can reach out and touch it.

Dow 30. Lots of red. At the bottom, WBA and HD. At the top, CRM and MRK.

SPY 5 slip sliding down the slope.

The target should be EMA20, we'll see from there.

Elon saw his overall net worth skyrocket late Monday by a whopping $15 billion after the S&P announcement. 
Tesla to join S&P 500 ...potentially in two tranches
Effective before trading on Monday, Dec. 21.
Tesla will account for about 1% of the index.
Its inclusion means investment funds indexed to the S&P 500 will have to sell about $51 billion worth of shares of companies already in the S&P 500 and use that money to buy shares of Tesla, so that their portfolios correctly reflect the index, according to S&P Dow Jones Indices.

A new study “found a stock market decline better predicts the FOMC’s behavior than any of the 38 macroeconomic indicators available in Bloomberg’s economic calendar or the 85 indicators that make up the Chicago Fed National Activity Index."
https://www.barrons.com/articles/yes-th ... 1605529801

Testing ema20 as expected, now let's see any bears alive.

TSLA today
HOD 462
now 441.23

SPY 5. Smooth moves today. Down. Up. No chop. Then a string of 5 dojis, putting the brakes, temporarily, on the move up.

vaccines on the daily

TOP FIVE spy holdings, plus tsla, last 10 days

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This StockCharts.com video (from today) is interesting ...

Introducing Anchored VWAP in StockChartsACP | Brian Shannon, CMT
https://www.youtube.com/watch?v=nW-H8WyTeBQ

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Touch the blue line above then breakout would be likely but probably a false one, need more consolidation here maybe.

Now breakout would be more likely for real.