Back to www.cobrasmarketview.com

01/23/2023 Live Update

User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/23/2023 Live Update

Post by Cobra »

The pullback probably will be bought.
Attachments
0.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Trades w 2 Cats
Posts: 1695
Joined: Tue Dec 15, 2020 3:48 pm

Re: 01/23/2023 Live Update

Post by Trades w 2 Cats »

ES 03-23 (5 Min Volumetric) 2023_01_23 (10_46_36 AM).png
Cumulative Delta going to neutral. 4040 seems to be a major tractor beam. Looks like the Boyz could be done buying for today.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 01/23/2023 Live Update

Post by Al_Dente »

"Apple layoffs have been avoided for three reasons, as other tech giants let staff go
https://9to5mac.com/2023/01/23/apple-layoffs-avoided/
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/23/2023 Live Update

Post by Cobra »


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
marcueus2
Posts: 101
Joined: Wed Feb 03, 2016 1:54 pm

Re: 01/23/2023 Live Update

Post by marcueus2 »

This market is insane , I still belive we can have today reversal bar and Cobra bearish bias is correct.
merryme
Posts: 560
Joined: Tue Apr 01, 2014 1:41 pm

Re: 01/23/2023 Live Update

Post by merryme »

Chart on left is structure previously shown. Chart on right is current price action. Really impressive up move. Retest at some point of prior double top, top of range noted or at the very least $400. Wyckoff Phase E of structure.
Attachments
Screenshot (1100).png
Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 01/23/2023 Live Update

Post by Al_Dente »

Earnings due this week:
Tuesday, January 24: MMM, JNJ, VZ, TXN, MSFT
Wednesday, January 25: T, BA, IBM, TSLA
Thursday, January 26: CMCSA, DOW, INTC, MA, V
Friday, January 27: CVX, AXP
Also this week: S&P Case-Shiller Home Price Index, new home sales, durable goods orders, and consumer sentiment ...
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Trades w 2 Cats
Posts: 1695
Joined: Tue Dec 15, 2020 3:48 pm

Re: 01/23/2023 Live Update

Post by Trades w 2 Cats »

ES 03-23 (6000 Tick) 2023_01_23 (12_34_02 PM).png
A lot more excitement on the re-test of the high
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 01/23/2023 Live Update

Post by BullBear52x »

Reversal tracker, search for bearish reversal continue. we may get as high as December high on this run. U/D volume >2 with TRIN < 1 the buying pressure is strong. if we closed with TRIN > 1 then there is chance of a bull trap, for now I don't see it as such.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 01/23/2023 Live Update

Post by BullBear52x »

Short term momentum are bullish bias. until all this changing the earning report can really give a good boosting until a clear reversal daily bar shows up, for now find excuse to buy.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 01/23/2023 Live Update

Post by BullBear52x »

Intraday: no negative price action until the last dip buying failed, top red line.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/23/2023 Live Update

Post by Cobra »

The pullback probably will be bought again.
Attachments
0.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 01/23/2023 Live Update

Post by BullBear52x »

Another buy dips setup. until they are starting to fail then bears will have a say. very active 2023 haha, love it!
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 01/23/2023 Live Update

Post by BullBear52x »

TRIN reading .88, /ES 4030 magnet, a trade below that will be no good for bulls tomorrow. :idea: :geek:
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 01/23/2023 Live Update

Post by BullBear52x »

TRIN is now .94 a greater than 1 by time we close will be really bad sign for bulls.
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/23/2023 Live Update

Post by Cobra »

The rebound might be sold. It's a rare failed uptrend day, but still the first touch of EMA20 got bought.
Attachments
0.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 01/23/2023 Live Update

Post by BullBear52x »

Tomorrow will be easier for day trade now that swing buy setup triggers, intraday box trade map. keep it simple. Peace!
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
Trades w 2 Cats
Posts: 1695
Joined: Tue Dec 15, 2020 3:48 pm

Re: 01/23/2023 Live Update

Post by Trades w 2 Cats »

wilson on earnings.jpeg
Just a reminder, Michael Wilson and Michael Harnett (Morgan Stanly and B of A) have the best track record of public pronouncements being correct over the last couple of years.

Wilson says "Our work shows further erosion in earnings, with the gap between our model and the forward estimates as wide as it's ever been. The last two times our model was this far below consensus, the S&P 500 fell by 34% and 49%."

Personally, if I was writing a narrative, I would be calling it "The False Dawn". Because Wilson has lots of support for his work and the implication is clear, we will get an adjustment down for earnings and I imagine a reduction in multiple giving us the second leg down in the market.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/23/2023 Live Update

Post by Cobra »


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
merryme
Posts: 560
Joined: Tue Apr 01, 2014 1:41 pm

Re: 01/23/2023 Live Update

Post by merryme »

Textbook Retest per my previous post. As long as we don't push back into range, I will plan for more upside. Ready to ditch long but need to see sign of Wyckoff failing. I'd be happier and more confident if we could close above $400.
Attachments
Screenshot (1102).png
Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
Post Reply