02/26/2021 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.

========================================================================================================================================================================

50% chances of double bottom here (red arrows). For now it looks more like a diamond bottom (but usually is a continuation pattern), so bias is a little bit down to me (purple lines). Almost flat open so possible range day. A down from open to close day has been rare and we just got one yesterday so today if down in the morning, probably we'll get the reversal in the afternoon.

Happy trading everyone!

[JFR]

ES daily. Down from the recent high. Beneath the EMA 20.

[BullBear52x]

The selling was strong yesterday and has change all short term back to bearish. selling to continue on my side.

[BullBear52x]

A LL will change the look to the long term view for a long time.

[BullBear52x]

The chase to the down side, if bulls are serious we need to see new HH soon, like in the next 5 minutes.

[Trades w 2 Cats]

Yesterday news feed chatter was all about how the CTAs had biggest Treasury short position since 2018 and the balanced funds were going to liquidate. This morning Treasuries are supposedly stepping back from the edge of the cliff. We also find that the big boys have not gotten out it was just retail taking profits. Then we find out that the Speaker of the House has decided to ignore the Senates rules on reconciliation. No idea if this places the stimulus in jeopardy. If it does go through (the $15 wage) should be good news for flippy the robot burger maker.

[BullBear52x]

same playbook, take half off, and MA resistance will give a good cover for bears.

[BullBear52x]

a breakdown will be fast and furious drop. the way $VIX level is at right now.

[Cobra]

Members only update at 10:15 am
http://www.cobrasmarketview.com/2021/02 ... ay-update/

[Trades w 2 Cats]

working on the 8th touch of 3808 since yesterday's close. It is Deja Vue all over again

[Trades w 2 Cats]

3799 is where the open gap starts.

[Trades w 2 Cats]

Decision time here at overnight low. Just above the gap, and last day of the month.

[BullBear52x]

3785 is my next support

[BullBear52x]

Got my 85 I am siting out now. wait for new setup

[Mr. BachNut]

A little Friday BachNut.

NYMO cycle remains down.
Notably, we have entered the "Turn Zone" intraday this morning.
So, time to be watchful. We can get a turn up in the days ahead or perhaps proceed to the "oversold Zone."

Price is in a two gap sandwich above and below.
The 50 MA and middle Keltner approach, which may provide some support and complete a move from the upper keltner.
It does look like we may be doing an ABC down.
Time will tell if price closes those down gaps, which are in sight.

At the moment, it does look like February will be an up close to January and, unless we plunge again, December.
So, bulls taking a hit but still ahead on points in the big picture.

I am flat and doing nothing.
I caught the early drop this week, but did not get the memo about selling the bounce.
I have short setups percolating, but this is usually a bad idea when NYMO is in the turn zone... unless we are in a March 2020 like trend.
I will rest this weekend and see how things unfold next week.

[marcueus3]

Ok downtarget met we can go ATH

[Cobra]

More than 100% measured move down so maybe there's another leg down after the rebound? Still FOR NOW I don't expect a down from open to close day today.

[BullBear52x]

same playbook, back in again, and sell rip coupon still unused.

[Cobra]

Probably the low was in for today, at least the rebound shall have legs.

[Cobra]

Members only update at 10:50 am
http://www.cobrasmarketview.com/2021/02 ... ay-update/