08/22/2024 Live Update

[Cobra]

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A price channel, now testing the channel upper boundary, may have some chances of a pullback to the channel lower boundary.

[BullBear52x]

2x top and gap filled area. best counter trend sell setup. bears can't win from here, there will never be a win for bears forever

[BullBear52x]

Think auction! 3rd days of bad bid on new swing high.

[Cobra]

Members only update at 10:06 am
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[tsf]

Thank you, Cobra and the Board.

https://stockcharts.com/public/1684859/tenpp/1
0.2.1 Trading Markets Setups - VIX
0.5.0 Volatility Index (Daily)

The two Cobra's $VIX charts are good guidance, and support jademann's posts last weekend about $VIX and $SPXU.

[Cobra]

Members only update at 12:00 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

Maybe the rebound would be sold? Noticed my tone? I usually say "The pullback will bought", the worse at least is "The pullback probably will be bought".

[Cobra]

Here's the bear's last chance to make another leg down.

[JFR]

ES daily.

Bearish engulfing candlestick.

In technical analysis, the bearish engulfing pattern is a chart pattern that can signal a reversal in an upward price trend. Comprising two consecutive candles, the pattern features a smaller bullish candle followed by a larger bearish candle that engulfs the first. This formation is considered a strong indicator that the prior upward momentum is waning and a reversal is on the horizon. Investopedia

Not convinced that the move back to the top is over.

Seems more like a pause or small pullback to me, so far.

But it is not encouraging to the bulls, either.

[JFR]

ES 60 minutes.

Now that is scary.

Sharp move down. Aiyahh.

Down from R1, through the Pivot, and through S1.

[JFR]

ES 5 minutes.

Strong move down.

Second hit at a support level, 5603. Somewhat ominous.

The bearish activity has got my attention.

But I have not switched my bias from longer term bullish at this time.

Much more caution however. Mostly day trading.

Have a good afternoon.

[Cobra]

Now let's see whether bulls can make a double bottom here, 50% chances.

[BullBear52x]

Swing setup: New buy triggered, new buy new box, make or break.

Intraday: well, bearish engulfing, very common beraish reversal.

Internals: bearish bias, let see if the swing box can hold, if not there is a change in trend coming. Peace!

[tsf]

Together, Cobra's $VIX charts and jademann's $VIX charts gave me good guidance.

Here are the links to Cobra's $VIX charts:
https://stockcharts.com/c-sc/sc?s=%24VI ... 9495&r=989
https://stockcharts.com/c-sc/sc?s=%24VI ... 49445&r=53

Here are the links to this forum member jademann's $VIX charts:
https://stockcharts.com/h-sc/ui?s=%24VI ... 0599455137
https://stockcharts.com/h-sc/ui?s=%24VI ... 0105604977

Thank you, again Cobra and the Board.

[BullBear52x]

Bonus chart: Daily trend following setup triggered sell today if we closed here. first thing first for this time frame. sell first ask question later.

On the $VIX, for this top to hold, the $VIX need to move higher than today's $VIX, no fear no bear, it's at the border line, soooo, we need to see a follow through tomorrow.

[BullBear52x]

ES daily.

Bearish engulfing candlestick.

In technical analysis, the bearish engulfing pattern is a chart pattern that can signal a reversal in an upward price trend. Comprising two consecutive candles, the pattern features a smaller bullish candle followed by a larger bearish candle that engulfs the first. This formation is considered a strong indicator that the prior upward momentum is waning and a reversal is on the horizon. Investopedia

Not convinced that the move back to the top is over.

Seems more like a pause or small pullback to me, so far.

But it is not encouraging to the bulls, either.


2024-08-22_09-57-56.png

React to it, true or fault, bias kills.

[Cobra]

Another important place for another leg down. I see consolidation so maybe breakout on the upside is more likely.

[Cobra]

Members only update at 3:31 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

Members only update at 3:51 pm
http://www.cobrasmarketview.com/2024/08 ... 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