03/10/2022 Live Update

[jademann]

Anyone think it is worth buying SPY at 385? Or do we wait for 375? Probably the latter and sleep better..

[BullBear52x]

It's Friday....ding ding ding. greed kills. Peace!

[Cobra]

This bear shall have legs.

[BullBear52x]

This year will be another day traders' Heaven or Hell. Looks to me like we will not be far from this range on the up or down side. Get ready for the bear market whipsaws. very over sold atm. Peace!

[jademann]

BB, you have a target of SPY 365, interesting, even lower than my 375.

[Cobra]

It's the very first test of EMA20 in awhile, so could attract some sellers so the pullback now is expected, the watch point is whether bulls can make a higher low or just a slight lower low.

[Sleeperz]

Banker on CNBC says SVB could be bought by Sunday. FDIC takes over SVB deposits, stopped the run on the bank .

[Cobra]

Need break the blue line to confirm higher low.

[Trades w 2 Cats]

I have annotated Dana Marlane's chart from twitter. That 3750 area on S&P is really the switch to validate this count. If next Fed meeting they throw in the towel and chop rates then this count goes away. On the other hand I think she is too aggressive counting this as the begining of wave three on an intermediate wave size. The big name Mike and Michaels with the good track record see the Fed folding later this year and the market heading back up, not another 12 months of selling.

[marcueus2]

Guys i wonder if you are going to stay long over the weekend with SIVB domino effect coming during the weekend ?

[Cobra]

Members only update at 3:33 pm
http://www.cobrasmarketview.com/2023/03 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2023/03 ... ay-update/

[Cobra]

Well, that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

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/ ... /533449377

[JFR]

ES 5 minutes.

Settling into a range, for the last 3 hours.

Between 3886 and 3846.

But there is a cold wind blowing. "Let's be careful out there."