10/24/2023 Live Update

[Cobra]

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The rebound overnight seems weaker than that of yesterday (comparing the slope of the rebound), so maybe it's just a rebound?

[JFR]

ES daily.

Finding some support at 4236.

[JFR]

ES 60 minutes.

Flat for two days. After some down days.

[JFR]

ES 5 minutes.

Up from the low of the day.

Finding resistance at 4268.

In a range for many candles.

[JFR]

SPY 5 minutes.

Still in Gap and Go pattern.

Edited ...

2023-10-24_08-10-23.png (55.31 KiB) Viewed 1636 times

[JFR]

ES 5 minutes.

Reluctance to move beneath 4260.

Nasty chop.

Back later ...

[Cobra]

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

[Trades w 2 Cats]

Looks like we are on hold waiting for the after hours news from Microsoft and Alphabet.

[Trades w 2 Cats]

Sure looks like major resistance to me. Wafting to see if the market makes a fourth try.

[JFR]

ES 5 minutes.

Pullback to the EMA 20.

Testing below.

[Cobra]

Probably it's a range, now rebounding from the range low.

[Cobra]

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

[JFR]

SPY 5 minutes.

Gap not quite filled on SPY.

[BullBear52x]

Swing setup: Last sell failed, this dip will be bought, RSI>30 = trigger the buy. let see if the next buy can make a change in trend or not. one step at the time. I can see bulls are jumping up and down with excitement this morning only to go what's next? buy this dip.

[BullBear52x]

Intraday: It looks like a failed breakout, it is bullish bias with a swing high today. same playbook on Fibbo as guidance.

[BullBear52x]

On the immediate short term internals, A/D issues is buy able dip but not as exciting since $TRIN is still above 1, lets hope the up/dn volume and Adv/Dec ratio go higher by the time we closed. Peace!

[Cobra]

EMA20 here is the bear's best and lest chance to make another leg down. Strong breakout here then it's just a range day.

[Cobra]

Now near the range high, let's see any pullbacks.

[Cobra]

Members only update at 3:33 pm
http://www.cobrasmarketview.com/2023/10 ... ay-update/

[Trades w 2 Cats]

Options have expired. Holding fire just below the high. You know the drill, Mr. Softy and Alphabet right after the cash close trigger the algos and we burst out of the trading range. Overnight pile on guarantees a gap and go open on Wednesday. At least that has been the playbook for several quarters.

Problem is this market has too many stocks not going up, so Index will be an extremely weak high.