08/02/2022 Live Update

[Cobra]

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The pullback overnight probably will be bought.

[JFR]

ES daily. 3 days up. Then flat for 1 day, pausing. And now pulling back. Well above the EMA 20.

[JFR]

ES 60 minutes. 3 moves up. Breaking down out of the range. Hanging around S1.

[JFR]

ES 5 minutes. Drifting down for 4 hours. Bounce off support. Beneath resistance at S1. Testing support at the EMA 20.

[koolblue1413]

Friday was the peak at 4144. First move down wasAa

Was wave a . Wave b up to test the high at 4147, now c has started . Yesterday was a very narrow range bar. For the importance of that ,refer to last Fridays morning post ( 7/29 ). I have a cycle low due wed. For all these reasons and more I expect more decline today and maybe into wed.watching for the gap fill at 4173 , some support at 4160-65 and more at 4146 or so. This would be a normal 2 or 3 day correction so far

[BullBear52x]

watching yesterday's LOD. a trade lower, doesn't have to closed low will amp up the bearish stance. inside day bearish bias, negative price action from yesterday to continue weak.

[BullBear52x]

Day two of rising fear.

[JFR]

SPY 5 minutes. Price action, extended hours.

Failed breakout.

[JFR]

NYSE Tick and ES. 1 minute.

Tried for a move up, breakout. Can't do it when the NYSE Ticks are against.

[JFR]

NYSE Tick and ES. 1 minute.

Another try for a breakout. With the NYSE Ticks this time. Still no guarantee. Lots of bears out there.

[JFR]

NYSE Tick and ES. 1 minute. 2 failed breakouts. Trying to swim upstream, against the Ticks. Not good.

Back later ...

[cletus]

Cletus open:

1) Probably need another spike up at least to produce a *lasting* pullback
2) This retracement move is expected to conclude approximately 1 week from now, where closing out shorts would be advised

[Cobra]

Members only update at 10:10 am
http://www.cobrasmarketview.com/2022/08 ... ay-update/

[te_fern]

Getting whipsawed around. This is where I end up with a trade that really moves against me, after taking pennies for trading noise....

[te_fern]

Trying to trade this channel. This last pop left me hanging...

[koolblue]

[Mr. BachNut]

Quick BachNut update...

NYMO cycle remains up.
However, we have turned down from pretty high in the upper Turn Zone.
So, the NYMO high for this cycle may be in, and we won't be able to confirm a down cycle until NYMO gets negative.
If a cycle high is confirmed for July 29, that would set a benchmark price of SPX 4140.12. The model would say all gains above that (if any) would be given up eventually.
Time will tell what happens.

We have open gaps above and below.
There are probably stops available to be collected above 4177.51.
We may get to see bears mount some kind of defense of that level.
Trade above the June high with a negative NYMO divergence would get my bear sensors up.
But I don't know what will happen.

The 200 MA and upper Keltner band are flattening out in the 4300s.
It feels like a stretch to go test that neighborhood now, but I will keep an open mind.

I remain long runner positions.

[BullBear52x]

Sell the rip setup intraday. last sell for the bears if this sell setup fails.

[Mr. BachNut]

Last few times I have logged on I haven't seen Al Dente.
Is he still coming around?

[Cobra]

The previous bar was an exhaustion bar so should be a pullback here which likely would be bought later though.