12/28/2021 Live Update

[Cobra]

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This bull shall have legs.

Gap up above the yesterday's high so it could be a trend day either up or down.

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2021/12 ... ay-update/

[Mr. BachNut]

The NYMO cycle is UP!
In fact, we have soared from deep negative to the upper Turn Zone in just 5 days.
The upper Turn Zone behaves a bit differently than the lower Turn Zone.
We can get a reversal into a down cycle from here or we can get some corrective consolidation/pullback.
As long as the bulls keep NYMO positive, they have control of the ball.

Price has been adding down gaps while making new highs.
We have 16 down gaps. If we weren't in a year-end Santa rally, I would argue that some of those are due for closure.

Price has not yet hit the upper keltner band to reconfirm the bull bias.
The first surge from the middle keltner in early December petered out and fell back without an upper tag.
If this second surge fails to tag the upper keltner, it suggests the bulls are tired. They have had no trouble tagging the upper band throughout the year.
Let's see what happens.

I am long SPX and R2K.
I had a long position in the SPX that got stopped out last week after one scale for a loss.
I reloaded and have since scaled out three profit units, and this is now a runner with a BE stop.
I had a short R2K runner position that was closed profitably and reversed. One profit unit has been scaled out on this one.

Happy New Year! Good trading ahead!

[Cobra]

Probably the rang low was in.

[JFR]

ES daily. New high. But a doji.

[JFR]

ES five minutes. Extreme chop. About as ugly as I've ever seen.

[JFR]

ES 60 minutes. In a tight base.

[JFR]

CI. Cigna Corp. Health care provider. From Bloomfield, CT.

[Cobra]

Members only update at 12:08 pm
http://www.cobrasmarketview.com/2021/12 ... ay-update/

[Cobra]

May resume down. Blue line below is the support.

[Al_Dente]

SPY is up +29.8% so far this year
Cathie Woods, ARKK, is down -24.7%

[JFR]

Dow leaders. As is usual, most of the action is in the first 30 minutes, up to an hour.

[JFR]

Alternatives.

Back a bit later ...

[Cobra]

Not sure, maybe it's a double bottom here.

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2021/12 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2021/12 ... 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