04/09/2024 Live Update

[Cobra]

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Could be a triangle so bias is a little bit up.

[JFR]

ES daily.

Second day sitting on the EMA 20.

And a doji once again.

The market needs to make up its mind.

[JFR]

ES 60 minutes.

Two days in the same, tight trading range.

[JFR]

ES 5 minutes.

Three moves up in the pre-market.

From 5246 to 5268.

Stuck beneath resistance at this point.

[BullBear52x]

inside day inside box.

Money is on inflation side. interest rate hike is more likely if data driven

[BullBear52x]

Is this August or January? only price pays with more and more internals seem to be calm be fore the storm.

[Cobra]

Members only update at 10:06 am
http://www.cobrasmarketview.com/2024/04 ... ay-update/

[Cobra]

It's a morning hourly filled black bar

[JFR]

SPY daily.

In a trading range, tucked inside the huge marubozu bear candle from Thursday.

Sitting on the EMA 20.

Up in March.

Flat in April.

Some ''gurus'' who make predictions such as Tom Bowley, Joanne Klein, Martin Pring and Fisher Investments are bullish. Fair enough, but I will focus on day trades. But also with some long holdings.

[BullBear52x]

I am not a GURU, but if we have LL on daily from last Thursday, this trend following buy dip will fail, and market top will be called out, but that just me, what do I know?

[Cobra]

EMA20 here is the bear's last chance for a 2nd leg down.

[Cobra]

Members only update at 12:05 pm
http://www.cobrasmarketview.com/2024/04 ... ay-update/

[BullBear52x]

basic HH, HL, LH, LL is basic must known and understand for basic TA, but it's not as simple to some.

Swing setup: no change, need to see clear breakout. bearish bias but LL is needed for a success selling.

Intraday: inside day, sideways. no bias, any thing goes, as of now it is on a weaker side under 38.2%.

Internals: it is a fearful market, surprise is on the down side. trade well. Peace!

[JFR]

I am not a GURU, but if we have LL on daily from last Thursday, this trend following buy dip will fail, and market top will be called out, but that just me, what do I know?

Yes you are a guru. You talk like a guru. You use words like a guru. LL trend buy dip market top ... All that stuff. Ha ha.

And Will Rogers advised: "Only buy stocks that go up. If they don't go up, don't buy them."

2024-04-09_10-04-06.png (131.34 KiB) Viewed 468 times

[BullBear52x]

Bonus chart: talking about fear, watch $VIX >16 and above the down trend, once the fear hits the market and the correction taking the place, the pull back to 61.8% is common. prediction? Nahhhhh, it's just a law of probability, just like any TA study.

[Cobra]

Members only update at 3:35 pm
http://www.cobrasmarketview.com/2024/04 ... ay-update/

[Cobra]

Members only update at 3:53 pm
http://www.cobrasmarketview.com/2024/04 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

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/ ... /533449381