08/07/2024 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to cobra@cobrasmarketview.com.

===============================================================================================================================

I see 3 push up (red arrows) and based on the rule that we shall always give bulls more credit so assume the current 4th push up will make another new high then pullback then a lower high then a real pullback as illustrated by dashed blue arrows. Let's see.

[JFR]

ES daily.

The bulls have stopped the fall, for the time being.

Strong bull candle.

But I doubt the bears are through yet with their push down.

[JFR]

ES 60 minutes.

Strong resistance at 5342.

If it doesn't break out fairly soon, back down to 5242, and then looking south.

But good work so far by the bulls stopping the decline.

Price has fallen from 5723 back on July 23.

[JFR]

ES 5 minutes.

After a nice move up this morning, now

in a trading range between 5317 and 5329.

[te_fern]

Quick look at this mornings channel.. (8 day chart)

[JFR]

ES 5 minutes.

Trying for a breakout.

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[te_fern]

Boink...

[Cobra]

If this is a classical down in the morning then up and up till the close day, now is the time and place to reversal up.

[te_fern]

Good call Cobra! Would like to see new high for the day!

[Cobra]

Some chances of lower high here (40%), so now bears have some hope that today can be a range day. For now a reversal day still is a dream, but if the blue line can be taken decisively in the next couple of bars then maybe.

[Cobra]

Consolidating below the neckline so bias is down, the breakdown has chances being real. But still it could be just a range day unless we see big consecutive red bars (at least 2 in a row).

[Cobra]

Members only update at 12:06 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[BullBear52x]

3rd day of negative price action to close. up 3 days with negative closed.

[BullBear52x]

Swing setup: last buy was a success, but a triggered this morning put too much of a draw down on stop. dip will be bought, until then.....

Intraday: new swing high, it is bullish bias. you know the routine, until a trade below 38.2% will reversal be credible. bulls are down but not out!

Internals: bullish bias, there is still some fire inside.Peace!

[BullBear52x]

Bonus chart: It is a fearful market, the surprise will always be to the down side until the fear subsides.for now bears are still have an upper hand, again....Only price pays. see you next week, nature called. GLTA

[Cobra]

Need down more to exceed the tinted area (100% measured move target) to "guarantee" another leg down. Right now, still could be a range day, i.e. now is simply seeking the range low.

[Cobra]

100% measured move target reached so likely there's another leg down. Still could be a range day though, I mean still don't know if today would be down and down till the close as down till the close day has been rare.

[BullBear52x]

Another buy triggered, not a penny lower allowed!

[Cobra]

The 3rd leg down as expected. Now let's see whether bulls can make a double bottom here. I'll need see 2 consecutive strong bull bars first.