09/14/2023 Live Update

[Cobra]

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Double top or not (red arrows), wait and see. 50% chances.

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2023/09 ... ay-update/

[Cobra]

tapatalk mobile app now can access the forum.

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Install the app then search "Cobras Market View", or simply "Market View".

[Cobra]

It's a morning hourly filled black bar

[Cobra]

Testing the day high very early so my guess is breakout is more likely instead of a double top.

[Cobra]

Strong breakout. This bull shall have legs. It's an uptrend day.

[Cobra]

The pullback probably will be bought. The key is whether it touches the EMA20 below before being bought or not. If it's bought without touching the EMA20 then the uptrend today is strong.

[Cobra]

Members only update at 12:04 pm
http://www.cobrasmarketview.com/2023/09 ... ay-update/

[Cobra]

Unlikely it's a double top here. Typically either a consolidation for a couple of bars then breakout or a pullback which would be bought then up to test the high then breakout.

[Cobra]

Now let's see this 3 push up (red arrows) aka rising wedge works or not. If luckily works, which means a GOOD pullback here then typically there'll be another higher high then lower high then bears might have chances (so now you know why it's hard to be a bear) as illustrated by dashed blue lines.

[Cobra]

Pullback then new high as expected (solid blue lines mean the forecast fulfilled). Now if this new high goes too far then bears will have to restart again: Another new high then lower high then finally chances of a good pullback.

[Cobra]

The pullback has been slow still so expect another new high (then lower high then finally some hopes for bears).

[Cobra]

OK, it's a lower high so bears did better than I thought, so in theory now should be a little bit larger pullback (dashed blue arrow) which I don't believe it'd go far though. Why? Trust is earned. Since when bears earned the trust?

[JFR]

ES daily.

Pushing above the EMA 20.

A marubozu. Bulls making a move.

[JFR]

ES 60 minutes.

Helluva move up.

From S1, through the Pivot, through R1, through R2. Before hitting the pause button.

[JFR]

MMP. Magellan Midstream.

Founded in 2000. HQ in Tulsa, Oklahoma.

Its stock started to move up in the year 2020.

Excellent move this year.

Good financials, in my opinion.

Not recommending, just sharing information.

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company operates refined products pipeline that transports gasoline, diesel and aviation fuel, kerosene, and heating oil to refiners, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports. It also provides pipeline capacity and tank storage services, as well as terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers. In addition, the company owns and operates crude oil pipelines and storage facilities; and marine terminals located along coastal waterways that provide design, installation, construction, testing, operation, replacement, and management of assets to refiners, marketers, and traders. Magellan Midstream Partners, L.P. was incorporated in 2000 and is headquartered in Tulsa, Oklahoma. -- Yahoo Finance

[Cobra]

Told you no to trust bears. I see new high. And a strong uptrend day usually closes near the high of the day. Today is not 100% strong uptrend day, say, a sub strong uptrend day

[Cobra]

The pullback this time appears strong so no sure whether the high was in or not (usually close near the high for a strong uptrend day, while today is sub strong uptrend day). If it's not the last trading hour of the day, I'd say the high was in though.

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2023/09 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2023/09 ... ay-update/