10/08/2025 Live Update

[Cobra]

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For now the rebound looks like a bear flag, so bias is down.

[grandeG]

FOMC should prove interesting today. Eager to hear what the meeting of the minds have to say.

[JFR]

ES daily.

Pulling back after hitting an all time high.

Sitting on 6757, major support.

Gotta be careful. Breaking below that could lead all the way down to 6624.

[JFR]

ES hourly.

Chop. Chop.

Sideways. No progress.

[JFR]

ES 5 minutes.

What we have here ... is more chop.

Trying to breakout above.

[BullBear52x]

Chop fest preventor. keep it simple.

[JFR]

FOMC should prove interesting today. Eager to hear what the meeting of the minds have to say.

Although my university degree is in Economics, I mostly trade through charts. Somewhere in the back of my attention on world events is an awareness of economic events, but that is not my focus. Interest rate announcements. Trade deals. Monetary news. OK, I loosely follow them. A pal I have coffee with once a week or so, is obsessed with economic events, and we have some good conversations. He is mostly troubled by the events. How about this? How about that? I try to keep it simple. Our last discussion was about Money Supply and M1, M2 et cetera. Heck, when I was at university there was no M1, M2 et cetera, just Money Supply itself. Ha ha. It always gets more complicated.

FOMC. Announcements. That is one the reasons I post on here. Some of the guys follow that stuff, and that is about all I need to know about the details. OK, once in a while I read an article or two about events.

Sorry, George, that might be my last substantive comment on the FOMC today.

[JFR]

Economics. Oh this one caught my eye.

Does my economics buddy look like that? Nope. He is a FIDE rated chess Master, but mostly puzzled by economics. Ha ha.

[Cobra]

Members only update at 10:00 am
https://www.cobrasmarketview.com/2025/1 ... ay-update/

[JFR]

ES 5 minutes.

Trying for a breakout.

[grandeG]

Economics. Oh this one caught my eye.

Does my economics buddy look like that? Nope. He is a FIDE rated chess Master, but mostly puzzled by economics. Ha ha.


2025-10-08_06h46_08.png

Hang it in the Louvre!!

[grandeG]

FOMC should prove interesting today. Eager to hear what the meeting of the minds have to say.

Although my university degree is in Economics, I mostly trade through charts. Somewhere in the back of my attention on world events is an awareness of economic events, but that is not my focus. Interest rate announcements. Trade deals. Monetary news. OK, I loosely follow them. A pal I have coffee with once a week or so, is obsessed with economic events, and we have some good conversations. He is mostly troubled by the events. How about this? How about that? I try to keep it simple. Our last discussion was about Money Supply and M1, M2 et cetera. Heck, when I was at university there was no M1, M2 et cetera, just Money Supply itself. Ha ha. It always gets more complicated.

FOMC. Announcements. That is one the reasons I post on here. Some of the guys follow that stuff, and that is about all I need to know about the details. OK, once in a while I read an article or two about events.

Sorry, George, that might be my last substantive comment on the FOMC today.

Thanks for the information JFR. Always appreciate your feedback.

[Trades w 2 Cats]

I am guessing a re-run of the prior chop fest.

The carefully written article on AI from the major analyst is where we learned that 75 % of market gains since Chat GTP was introduced in Nov of 22 are AI related. Some are pointing out that it coincided with the major bank failures where the prior administration drained the FDIC to make all depositors whole. The Fed's response was to flood liquidity into the system. So new bight shiny object meets liquidity. We have seen this story before.

[Trades w 2 Cats]

Knock Knock Koncking on the door

[Cobra]

Members only update at 12:02 pm
https://www.cobrasmarketview.com/2025/1 ... ay-update/

[Cobra]

This bull shall have legs. So far it's an uptrend day.

[BullBear52x]

Intraday: inside day, anything goes..... Price action so far is a little overlapping, not as clean, for that tight stop is a must, until Cobra saw 3 push-up then...check the ATR on 5 min. and counter trend it.

[Cobra]

Bias should be up, I don't think it'd be a double top here. Stockcharts doesn't allow any annotation on the chart now, so no red arrows to mark what double top I see, you have to use your imagination or just simply believe that Cobra is always right

[Cobra]

False breakout (after I said it wouldn't be a double top), now it's a possible double top, I think breakdown the blue line is more likely,

[BullBear52x]

Fearful market, another rejection on the high today. well, bears can't follow through and so are the bulls can't pass to new top either. range with fear. leaning bearish overall. Peace!