03/23/2021 Live Update

[Cobra]

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No idea what pattern is.

Gap down but within the yesterday's range so probably it's just a range day.

[JFR]

ES daily. Down a bit from yesterday's close. An inside bar so far. Above the EMA 20.

[JFR]

SPY 5. Down a bit from Monday's close.

[BullBear52x]

Inside day with bearish bias. sell day today.

[JFR]

SPY 5. It is trying to move up. Do we believe it? Not yet.

[JFR]

SPY 1 minute. Failure at the EMA 20. So far. As Wyckoff would say, lots of supply overhead.

[BullBear52x]

Momentum is bearish, the problem to regain above 61.8 yesterday was a sure sign of weakness.

[JFR]

SPY 1. Price is on a slow train to nowhere. Taking a break ...

[JFR]

SPY 1. The bulls never give up. But they have serious resistance today. Later ...

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2021/03 ... ay-update/

[Cobra]

It's morning hourly hollow red.

[Mr. BachNut]

The NYMO cycle is DOWN.

Price has been holding in a gap sandwich.

One or the other should reverse in the days ahead.
I wouldn't rule out a corrective NYMO rally to the zero line that squeezes SPX to another high before it rolls over.
However, I don't know what will happen.

I am flat SPX without a setup at the moment.
I am short R2K with one profit unit scaled out.

[BullBear52x]

Overnight low is a pivot. late day rally is still in the card if support holds. if not, down like a rock.

[Cobra]

Typical breakdown then reversal up. I found in the majority of times, the very first breakout simply is false.

[Al_Dente]

VIX
When the spread between the 6-month VIX and the 1-month VIX gets this stretched, a SPX decline of a day/few days sometimes follows.
66% win rate (6 out of nine here, see red); cyan circles are “fails”
daily chart, as of yesterday’s close

[Cobra]

The rebound means it's just a range day. Maybe the low was in for today.

[te_fern]

What a crazy morning. Computer problems and the market going in different directions!

[te_fern]

That double bottom was the beginning of a good leg up to ride and I missed most of it!

[te_fern]

Sitting on my hands now (closed broker screen), been buying late and the bouncing around has bailed me out....not good!

[Al_Dente]

VAX PERKS:
Time off, a gift card, a free Krispy Kreme Doughnut, free weed and etc...
https://www.cnbc.com/2021/03/23/here-ar ... cine-.html