10/06/2023 Live Update

[Cobra]

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Guess it must be a very good job data. The market must be very mean as it doesn't like that more people have jobs. Anyway, double bottom here or not, wait and see, 50% chances.

[JFR]

ES daily.

Day 3 under the 4300 level. Hanging in there. About to lose its grip?

[JFR]

ES 60 minutes.

Sharp move down, through the Pivot, through S1, almost to S2.

[JFR]

ES 5 minutes.

Getting a bounce, up through S1.

[Cobra]

Members only update at 10:17 am
http://www.cobrasmarketview.com/2023/10 ... ay-update/

[Cobra]

Very strong bull bar, another good one then the low was in. Actually I think the low was in, another bull bar or not. The market seems want to go up.

[Cobra]

This bull shall have legs. Need decisively breakout the yesterday's high to claim victory though, 50% chances we stuck in a range, i.e. pullback from around the yesterday's high.

[Trades w 2 Cats]

Once again it is the battle at ther century mark. Volatility is reducing back toward normal. ATR hit 3 earlier in this run up, most days it has been around 2.

[tsf]

https://stockcharts.com/articles/tac/20 ... l-866.html
TOP ADVISORS CORNER
Entering the 4th Presidential Year
OCTOBER 06, 2023
Tom McClellan

[Trades w 2 Cats]

The view on a slower tick chart shows that the century mark is not the real target, rather 4310 according to the folks at Convergent Trading

[Cobra]

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

[Cobra]

Members only update at 12:05 pm
http://www.cobrasmarketview.com/2023/10 ... ay-update/

[JFR]

ES 5 minutes.

Nice move up. Many stops along the way.

From S2 to S1, to the Pivot, to 4300, to R1, to R2. And that is where it rests, for the time being.

[Trades w 2 Cats]

I am not good enough to do a wave count on that mess after the jobs report release. But the big move is a lot easier, as you can see a decent 5 wave pattern and it looks like wave 5 is about finished. On paper anther big impulsive push up next week (how about a big Monday with a gap and go ?) so some sort of an ABC pullback to close the day and set the tage.

[Cobra]

It's the very first test of EMA20 in a long time so could be bought again.

[Trades w 2 Cats]

Two weeks worth of volume profile. When you look at the Fib bands it makes it clear what a huge up move this was today. Waiting for the weekend pundits to tell us if this is real or a super powerful short squeeze.
As the old saying goes "may you live in interesting times".

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2023/10 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2023/10 ... ay-update/

[Cobra]

Well, guess 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