03/07/2023 Live Update

[Cobra]

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Don't know what pattern it is, can go either up or down.

[Al_Dente]

3/7 META is set to cut thousands more jobs as soon as this week, despite Zuckerberg's holiday-season assurance that he wasn't expecting more layoffs. The latest round of job cuts follows the the move last year to lay off around 11,000 workers - about 13% of its workforce. The new job cuts will be in the thousands ... some by attrition.

[Al_Dente]

3/7 Jerome Powell's semi-annual testimony to Congress is today and tomorrow.
Markets are largely expecting a 25-bp rate hike at the Fed's March 21-22 meeting, according to the CME FedWatch Tool, and have priced in the probability for 'higher for longer' interest rates.

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2023/03 ... ay-update/

[Cobra]

Break to the new day low in the next couple of bars then it's an early sign of a downtrend day.

[BullBear52x]

Recent low will be the key, for now just eye balls the price action along mid band, we can see bulls are in trouble.

[BullBear52x]

/ES magnet @4030

[Cobra]

EMA20 here is the bear's last chance to make another leg down. My guess it's just a range day, the range low might be in.

[BullBear52x]

LL will be really bad, we've seen this movie not too long ago. see last September.

[Cobra]

Either a measured move down or a classical breakdown then sharp reversal here, key time.

[BullBear52x]

Intraday, my red line, to maintain negative price action bears need to close under.

[Al_Dente]

Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
https://www.cnbc.com/2023/03/07/fed-cha ... pated.html

[jademann]

Sold SPXU at 14.71 and went flat for now..

[Cobra]

Members only update at 12:07 pm
http://www.cobrasmarketview.com/2023/03 ... ay-update/

[JFR]

ES daily.

The bears are awake. Down beneath the EMA 20. No quick trip back to the top for the bulls.

[JFR]

ES 60 minutes.

After some good ups, now on the downslope. Down through the Pivot, through S1, and through S2.

[JFR]

ES 5 minutes.

After the descent, now in a range, between S2 and key support.

Looking at slipping beneath 4000.

[JFR]

Dow 30. A sea of red.

JPM, WBA and AMGN at the bottom.

MRK, CRM and NKE trying for the green.

[JFR]

Alternative markets.

Longs looking for a place to park your money for the day? The directional moves could well be over.

TLT and UUP are up.

Shorts looking for a play? Those moves might be over too.

DBC, GLD, IRY, SPYG, SPYV and USO are all down for the day.

[BullBear52x]

/ES looking down to 3965