Cobra's Market View

BullBear52x wrote:Buy failed. Oy....

An honest man. Win a lot. Lose a few.

ES 1 minute. Some good moves, tradeable. Not so much just now.

Taking a break ...

The rebound probably will be sold if not already.

Galaxy Flip Phone (foldable phone) hits stores Friday
I thought it was going to retail for $1799
Here: discounted by $1000 for preorders
TODAY ONLY
https://www.cnet.com/deals/heres-your-l ... preorders/

Peloton and Dollar Tree
(reaction to earnings)

TOMORROW POWELL:
GS continues to expect the FOMC to slow the pace of rate hikes to 50bp in September and 25bp in November and December.... If the FOMC decides to tighten more aggressively, the Fed leadership would prefer to deliver multiple 50bp rate hikes rather than another 75bp rate hike in September.

JPM, Marko Kolanovic: "We maintain that inflation will resolve on its own as distortions fade, and likely drive a Fed pivot ...In Chair Powell's remarks, we do not expect him to tip his hand on the size of the next move, which will depend on upcoming releases, but we believe he will push back against the idea that a dovish policy pivot is coming soon."

RABOBANK: "Does It Even Matter If The Fed Hikes 50 Or 75bps? It Won't Prevent The Multiple Trainwrecks Coming Our Way"

Individual investors are more bearish on this dips. no optimism in this dip buying.

PAGING JFR:
I stole your Chande Trend Meter (CTM) and am using it on my 5m chart (also higher time frames).
I find it pretty effective depending on how you use it.
THANKS BOSS

I am selling, if there will be a failed breakout, this is it.

Sell is no good either, now we are trading in a range day behavior. I am done today. Peace!

Chart for the road: 5 DMA is last stand for the bears, momentum is looking bullish bias for swing trade setup. an early stage of a trend reversal. trade well, Peace!

GREEN SHOOTS
1) instead of double bottoming at 4110 (green arrows), SPX only went down to circa 4120; that's a bit bullish
2) bit of a breakout today (green circle), already backtesting

Double top?

Al_Dente wrote:PAGING JFR:
I stole your Chande Trend Meter (CTM) and am using it on my 5m chart (also higher time frames).
I find it pretty effective depending on how you use it.
THANKS BOSS

Hey Pasta Boss,

You are welcome.

I like the Chande. Nice visual. It is subtle, not dramatic. Show trends and turns.

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

This bull still has legs.

Surprise, surprise. Cletus was right