06/21/2022 Live Update

[Cobra]

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Rounding bottom, so the low was in? Don't know.

[koolblue]

first important support is around 3723. we have two humps before a good move (up? or down?) , but we need three. Should be a fun day!

[koolblue]

[cletus]

Cletus open notes:

1) uncle Cletus was right; bears are going to wake up to some pain this morning, they should have listened to uncle Cletus
2) bonds are declining sharply, something to watch
3) don’t expect this rally to fall apart, although some weakness off the open is possible
4) target for the first leg up is 11,800 on NQ based on a head and shoulder bottom
5) could be the start of a very big bear market rally or even a new bull, bears should walk away or turn bull

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2022/06 ... ay-update/

[Cobra]

The breakout is an early sign of an uptrend day.

[Cobra]

No sharp pullback in the next couple of bars then it's an uptrend day.

[Mr. BachNut]

NYMO is making a higher high after a higher low and is now tagging the zero line.
While we need two closes above zero to turn the model UP, it looks like things are headed that way.
Yes, it could just be a corrective move to the zero line, but given various positive divergences that were occurring at the lows last week, a NYMO up cycle seems probable.

Last week we saw two daily bars fully below the lower keltner band.
When we get daily bars below the keltner, one of two scenarios typically unfold.
One, after a price low confirms, the bounce goes at least up two the middle keltner (currently 4090), or
Two, after a bounce fails to reach the middle keltner, price falls back to form a double bottom (perhaps with a lower low).
So, a break of last Wednesday's high gives bulls a shot at 4000+ either right away or after a low retest.

We have 10 gaps above, which is huge, and we opened one down below this morning.
Importantly, there is an up gap in the ES future at 3906.75.
The futures market does not like to leave open gaps. So, me thinks this is on the menu.

I have marked a possible down channel to watch. It could be helpful if the upper boundary gets a tag that shows resistance.
The 200 MA and the upper keltner are converging and should be resistance if price can manage to get that high.
We shall see.

I am flat. I had short setups that got left at the alter by the gap open in futures a week ago Sunday. So it goes...
Guessing the next NYMO trade will be long.

[Cobra]

Pullback at the magic time. Now testing the EMA20 for the first time so probably will be bought.

[brokebybernacke2]

Cletus open notes:

1) uncle Cletus was right; bears are going to wake up to some pain this morning, they should have listened to uncle Cletus
2) bonds are declining sharply, something to watch
3) don’t expect this rally to fall apart, although some weakness off the open is possible
4) target for the first leg up is 11,800 on NQ based on a head and shoulder bottom
5) could be the start of a very big bear market rally or even a new bull, bears should walk away or turn bull

very cautious , see real issues on horizon here . very curious to see if we can even fill 3900 gap....low is not in IMO

[Cobra]

Members only update at 12:12 pm
http://www.cobrasmarketview.com/2022/06 ... ay-update/

[Al_Dente]

AGGRESSIVE and DEFENSIVE SECTORS
Daily, YTD
Vertical lines are keyed to SPY 20ma. We don't have a confirmed green buy yet but it lags
Yes, I too find it curious that the aggressives were down and the defensives were also down. That's not "normal"

[Al_Dente]

THIS IS A TRUE STORY re consumer demand:
95% Of American Households Are Changing Their Spending Habits Due To Inflation... Survey of over 10,000 consumers in April ... results:
https://www.fatherly.com/news/inflation ... households

THIS IS A JOKE:
https://www.boredpanda.com/blog/wp-cont ... 1__700.jpg

[Al_Dente]

"Now is the time to buy stocks." [Goldman, Citi, BofA, Jan 26, 2022]
"We see more stock market losses." [Goldman, Morgan Stanley, June 21, 2022]
https://cms.zerohedge.com/s3/files/inli ... k=lLngOX99

BELIEVE NO ONE TRUST YOUR OWN CHARTS [and Cobra]

[JFR]

SPY five minutes. Price action.

Back from vacation. How often will I post? Not as often as previously, I think. I will post some charts as previously. Value stocks, long or short, from lists. Dow leaders. Alternative investments. Price movement intraday. Long term perspective. But I am busy these days. We will see.

I do not plan to post trades as they happen, at this time, anyway.

Good trading to All.

[Cobra]

Testing day high, key time. In the past, usually breakout was more likely.

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2022/06 ... ay-update/

[Cobra]

Members only update at 3:56 pm
http://www.cobrasmarketview.com/2022/06 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

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/ ... /533449381

[brokebybernacke2]

keep eyes on Junk bonds, in a decision triangle. july could be wild.