04/10/2024 Live Update

[Cobra]

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Well, guess the CPI rose more than expected. But probably just like the Non Farm Payroll day, the market initially pretended to care about "no rate cut" but eventually rose up revealing the true nature that no matter what news, what data, whoever speaks, this market wants nothing but up, so let's see whether today is the same. Good news for bulls is, it's a 3 push down (green arrows) so the chances of a rebound is indeed for real.

[JFR]

ES daily.

Huge bear marubozu candle.

Beneath the EMA 20.

Back down to the box that developed in March.

Bias on the daily? Flat. The market is undecided, going back through March.

It tried a move up on March 20, but that has failed.

Day trading focus for this trader.

[JFR]

ES 60 minutes.

Huge bar down.

Through the Pivot, through S1, all the way down to S2.

And there it finds some support and a bounce.

[JFR]

ES 5 minutes.

The bear action has distorted the 5 minute chart, so I reduced it down to about 2 hours.

Price is sitting on S2, making up its mind where to go next.

I've been focused on bullish activity for months with my scans and plays.

So, I'm going to take a break here today, until the market makes its move.

Back later ...

[BullBear52x]

Market is due for this, look down to 50 MA on cash SPX.

[BullBear52x]

Buying here is like trying to pick up a penny in front of a steamroller.

[Trades w 2 Cats]

Lots of write ups about liquidity. Tax day is almost here and it will supposedly suck money out of the market. Fed ending an alphabet program pulling out more liquidity. Treasury needs money. Yellen got the cold shoulder in China.

We will know if this turns from a pullback to a major down market after the tech titans report at the end of the month. Banks on Friday, waiting to see what is said about the Commercial Real Estate crisis.

Not calling a top for the year yet, just saying the conditions make it possible. I am sticking to day trading for now.

[Cobra]

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

[Cobra]

It's a morning hourly hollow red

[Trades w 2 Cats]

Personal note.
Last year we lost Caldera and Fumar. My partner has never been without a cat.So a month ago Zorro came into our lives. Yes he does like sitting on the key board. At four months old he does more than sit. We could not find another Chartreux so he is a very closely related blood line, a Russian Grey.

[Cobra]

EMA20 now is the bear's last stand.

[Cobra]

Personal note.
Last year we lost Caldera and Fumar. My partner has never been without a cat.So a month ago Zorro came into our lives. Yes he does like sitting on the key board. At four months old he does more than sit. We could not find another Chartreux so he is a very closely related blood line, a Russian Grey.
zoro trading chair.jpg

Cute!

[Spacebased]

Personal note.
Last year we lost Caldera and Fumar. My partner has never been without a cat.So a month ago Zorro came into our lives. Yes he does like sitting on the key board. At four months old he does more than sit. We could not find another Chartreux so he is a very closely related blood line, a Russian Grey.
zoro trading chair.jpg

That's a handsome boy!

[Cobra]

Members only update at 12:27 pm
http://www.cobrasmarketview.com/2024/04 ... ay-update/

[Cobra]

Bias is down.

[JFR]

Personal note.
Last year we lost Caldera and Fumar. My partner has never been without a cat.So a month ago Zorro came into our lives. Yes he does like sitting on the key board. At four months old he does more than sit. We could not find another Chartreux so he is a very closely related blood line, a Russian Grey.
zoro trading chair.jpg

Sorry to hear about Caldera and Fumar.

Zorro is a cutie.

(Stock picture. Not my cat.)

[BullBear52x]

get ready in 5 min. talking heads start. time to make some money until the show time. CPI = no rate cut.

[BullBear52x]

Will FOMC save the day? no new LL just yet, bears need to see a close LL to cause significant TA damage, no new LL will signify bears are too weak, consolidation in time (not in price)to continue.

[BullBear52x]

Swing setup: last sell was a success, money management, take half off the table, let the other half runs.

internals: continue to weaken, momentum are also weak. Fed day, be nimble on day trade. Peace!

[JFR]

Dow 30.

A sea of red.

WMT all alone in trying for some gains.

Later ...