08/21/2024 Live Update

[Cobra]

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Maybe it's a triangle in the making which usually means there's one last push up.

[Cobra]

Members only update at 10:21 am
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[BullBear52x]

Failed auction? blow off top? 38.2% is key reversal.

[Cobra]

Members only update at 12:11 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

Measured move down, don't know it's over or not as usually the rebound like now would mean the low was in.

[BullBear52x]

20 -year bond auction in an hour, I am sure it will be good for the market, whatever it maybe, plus payroll revision -818K (biggest miscount LOL) rate cut should be today.

[Cobra]

Well, the "usually" works, so maybe the low was in, at least now bias is up.

[BullBear52x]

earlier of the year, we expected 7 rate cuts, now down to 1, oh wait, back up to 3 rate cuts this year. so far, no rate cut and market participations with rate cut are at the all time high, while SPX is close to ATH. Instead of 3 rate cuts of 0.25-0.5% , we should just go all in @1.5% today.

plumber approach, since the wall already open, change out all the exposed pipes, Problem solve for years......

[BullBear52x]

Swing setup: Yawning...no change, dip will be bought.

Intraday: new swing hilgh, it is bullish bias, until a trade below 38.2% for bears to have any say.

Internals: bullish bias, a bearish bias of yesterday has no follow through. Peace!

[JFR]

SPY daily.

A pause on the way back up.

A doji.

[JFR]

SPY hourly.

Good move up since August 8.

In a range now for two days.

[JFR]

SPY 5 minutes.

Some dangerous chop for day traders.

One good sustained move.

A day on the markets I do not mind having missed.

Have a good afternoon.

[Cobra]

Members only update at 3:36 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 Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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/ ... /533449387