06/12/2023 Live Update

[Cobra]

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Triangle, bias is up? Anyway, this is not a strong up pattern, weak up or consolidation here should be.

[JFR]

ES daily.

Another breakout, with some consolidation.

Also climbing the wall of worry.

Well above the EMA 20.

[JFR]

ES 60 minutes.

Strong move up, through S2, through S1, and through the Pivot.

Now in a range, riding the EMA 20.

[JFR]

Source

https://www.marketwatch.com/story/u-s-s ... =home-page

Not my data.

What’s driving markets

Stock futures looked to extend their recent rally Monday — though the positivity was tinged with caution ahead of a week stuffed with potential tripwires.

The S&P 500 finished Friday at its highest close in 10 months, having enjoyed a four-week winning streak as investors became more hopeful that the U.S economy can avoid a sharp economic slowdown as easing inflation allows the Federal Reserve to pause monetary tightening cycle.

That bullish narrative will be put to the test in coming days.

The consumer prices index for May will be published on Tuesday. Investors will be hoping to see annual CPI inflation — which hit a 40-year high of 9.1% last June and dropped to 4.9% in this April — fall further, with economists forecasting a dip to 4%.

[Al_Dente]

6/12
According to the Federal Reserve Bank of New York, consumers now owe a record $988B on their cards, up 17% from a year earlier .... with the average annual percentage rate now over 20%

[JFR]

ES 5 minutes.

Not going anywhere.

Not even favorable for day trades since the open.

Taking a break ...

[Cobra]

Members only update at 10:15 am
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[Cobra]

Maybe we have the range low (blue line below) now seeking the range high which I assume is the blue line above.

[Cobra]

Members only update at 12:10 pm
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[BullBear52x]

Inside day with fear starts to creep up. no fear no bear as I'd like to say, now the fear is rising, warning!!!

[Cobra]

The pullback probably will be bought. Could be a rising wedge here.

[jaguar6992]

Weird how the VIX and SPY are not playing nice together today.

[Cobra]

Break the rising wedge on the upside so this bull shall have legs.

[Ratbastrd]

$VIX green & $SPX green, traders know that means....

[BullBear52x]

Today will be a good day to pull up $VIX, $VVIX, and $SKEW. this rally is a little stress if you ask me. Peace!

[Cobra]

Members only update at 3:42 pm
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[Cobra]

Members only update at 3:53 pm
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

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/ ... /533449374