If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.
Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.
Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.
Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.
I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to cobra@cobrasmarketview.com.
Maybe it's a triangle here meaning bias is a little bit down (51%) because the trend leading to the pattern was down.
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.
Trading from same chart today and next week until there is a breakout/breakdown. HAPPY NEW YEAR.
Thank you, Cobra for providing a great think tank blog.
Attachments
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
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.
So far it's just a range day. The range high has been tested 3 times so may not hold another test.
Attachments
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.
Some excerpts from the article. Not my opinion, just information from a source.
U.S. stocks fell on Friday, on track for their worst annual losses since 2008, as tax-loss harvesting along with anxieties about the outlook for corporate profits and the U.S. consumer took their toll.
What’s driving markets
Stocks and bonds have been crushed this year as the Federal Reserve surprised investors by raising its policy interest rate more aggressively in 2023 than many had expected as it sought to crush the worst inflation in four decades. As a result, the S&P 500 index is on track to end the year with a loss of roughly 20%, its worst annual performance since 2008.
“It was a challenging year for traders to navigate an entirely new set of shocks triggering the third consecutive year of outsized market swings,” said Stephen Innes, managing partner at SPI Asset Management.
Stock indexes have slumped in recent weeks as the latest rally inspired by hopes for a Fed policy pivot wilted in December after the central bank signaled that it would likely wait until 2024 to cut interest rates.
On the final day of the trading year, markets were also being hit by selling to lock in losses that can be written off of tax bills, a practice known as tax-loss harvesting, according to Kim Forrest, chief investment officer at Bokeh Capital Partners.
Charts posted are not recommendations. They are just a sharing of information.
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.
I don't know how they determine best performing, I have been watching some of stocks like ULTA, LMT and AZO has been perform better than many other stocks this year in S&P 500. ULTA is a seasonal stock.
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.