08/02/2024 Live Update

[Cobra]

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After being down awhile a biggest red bar means exhaustion so probably we'll see a rebound upon open after which we'll see. Big gap down doesn't always mean a bloody day as far as I remember.

[JFR]

ES daily.

Disappointment for the bulls.

Very strong bear candle.

Breakout from the range. Down.

Well beneath the EMA 20.

Looking at 5267 below.

[JFR]

ES 60 minutes.

Making its way south.

Down through R1, the Pivot and S1.

Finding some temporary support at S1.

Slipping beneath S1.

[JFR]

ES 5 minutes.

Sharp move down. Recovering, up through S1.

It looks like the bears are going to take the day, but ya never know. Lots of bulls are just waiting for any decline to jump in for bargains.

For a trader who mostly looks to the bullish side on stock plays, I am inclined to take the day off. We will see.

[Cobra]

Members only update at 10:05 am
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

Consolidation, breakdown is more likely.

[Cobra]

The very first test of EMA20 today, could attract some sellers. Strong breakout then bears are over, again.

[Cobra]

Members only update at 12:12 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

Last chance for bears today. More up from here then the low might be in for today.

[BullBear52x]

Swing setup: no change, wait for sell setup, rip will be sold.

Intraday: another swing low, hard selling.

Internals: Bearish bias, breakdown is real. be careful. Peace!

[BullBear52x]

Bonus chart: $VIX spikes, until the $VIX subsides before the sun will rise again. Oy.....

[Cobra]

Revisiting day low, now let's see whether bulls can make a double bottom.

[Cobra]

Possible higher low if the current bull bar closes strong, wait and see.

[JFR]

ES 5 mnutes.

Down from S1 to S2.

Very strong support at S2.

But also bound by resistance at 5381.

Do the bulls have a chance for a late day run up? There is much resistance along the way.

[Cobra]

Members only update at 3:39 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

Members only update at 3:53 pm
http://www.cobrasmarketview.com/2024/08 ... 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