05/23/2024 Live Update

[BullBear52x]

VPOC 5245.5 /ES

[Trades w 2 Cats]

Was not expecting this!
The really good wave counter who's stuff is behind a paywall commented earlier today that the market has met the minimum requirement for the up move and could possibly be entering into a significant pullback. Of course everybody needs to see more bars.

I really dislike working with big down days like this because the snap back rally's really do rip your face off. Will wait for the snap back rally, the face ripper, before making a move. Thinking follow through in Asia overnight will make for a gap down open tomorrow. Possible the 'lets buy because it is Monday' could happen.

Looking forward to Cobra's stats.

[Trades w 2 Cats]

Convergent Trading (the volume levels in grey on my charts) has 5260 labeled as a key support zone. And that is about 15 points below the bottom of the (so far) half filled gap.

[Trades w 2 Cats]

Gap filled, waiting for 0DTE options to go away and then we will see.

Trying out some new to me indicators. Tan dash is the Klinger Volume Oscillator as an overlay. The green and red is it's signal line. Dash cyan in the center is it's zero line. It is overlaying a standard stochastic set very fast. Cyan 20 and 80 are overbought oversold for Stochastic. Stochastic is supposed to show changes in direction, Klinger is supposed to show momentum.

[Cobra]

Members only update at 3:33 pm
http://www.cobrasmarketview.com/2024/05 ... ay-update/

[Trades w 2 Cats]

Heat map shows how thin the buying was on the way up and the selling on the way down.
Will be interesting to see this after the open tomorrow. Even more interesting will be the explanation from the talking heads as to why the selling with Nvidia up 10%.

[Cobra]

Members only update at 3:53 pm
http://www.cobrasmarketview.com/2024/05 ... 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