07/18/2024 Live Update

[Cobra]

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Higher low or not, wait and see. Maybe the selling isn't over?

[Cobra]

Members only update at 10:18 am
http://www.cobrasmarketview.com/2024/07 ... ay-update/

[Cobra]

Testing the yesterday's low, let's see whether bulls can make a double bottom here or mostly a classical breakdown then reversal up.

[Trades w 2 Cats]

Gamma Lab saying on X that their models indicate CTA's are max long

[Cobra]

Well, it's a classical breakdown then reversal up. Now the question is: The low was in or not? Don't know, but usually the down is 2 legged so maybe another leg? Could be a higher low though.

[JFR]

ES daily.

Very sharp bear candle.

Down beneath the trendline and the EMA 20.

Pullback to the previous resistance level.

[Cobra]

Members only update at 12:28 pm
http://www.cobrasmarketview.com/2024/07 ... ay-update/

[Cobra]

The selling is slowing so probably we'll see a rebound soon, which likely would be sold though.

[JFR]

ES 60 minutes.

Down. Down. And down.

Down through R1, the Pivot and S1.

After a huge bear candle, a doji, as it looks for support.

[JFR]

ES 5 minutes.

Strong move down starting a couple of hours ago. Now finding support at 5592.

The two-day pullback is taking some heat out of the market.

More down to come, or is that it?

[Cobra]

Last chances for another leg down. My guess is, probably bears were over for today.

[Cobra]

Revisit the low which is very common, now let's see whether bulls can make a double bottom or better higher low. I personally prefer to see two consecutive strong bull bars before yelling again "bears are over".

[Cobra]

Another classical breakdown then reversal up. Need exceed the pink area to signal the low might be in.

[Cobra]

Members only update at 3:35 pm
http://www.cobrasmarketview.com/2024/07 ... ay-update/

[Cobra]

Classical close - down from open to close day has been very rare.

[Cobra]

Members only update at 3:52 pm
http://www.cobrasmarketview.com/2024/07 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

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/ ... /533449397