Cobra's Market View

May be too soon to say the party is over, but it is looking sort of toppy. Still lots of time for another push up to that call wall at 6,500.

It's the very first test of EMA20 today, could attract some buyers.

Tin foil hat comment from Julie Wade on x
"But seriously, with 211,956,685 calls vs. 267,000 puts, you cannot tell me that firms did not know this announcement was coming. In advance."

My personal take is we had a major trading house/bank and owner of the Federal Reserve saying Jackson Hole would be a none event.

A couple of hours ago ES max Pain for options was at 6410. Seems a long way down from here. Line in the sand level still at 6,474 and that could get challenged, yet again.

Hopefully it's just a range and we're hitting the range low therefore will go up from here to the range high before the close.

Well, guess that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

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/ ... /533449377