Cobra's Market View

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Double bottom, the pullback was over?

Small gap down, within the previous day's range, so likely just a range day.

SPY 15. Back up to the close.

Dow 30. "All quiet ... " Hey, wake up, market.

ES daily. Right at the top. Forming a base between the high and the EMA 20.

From AutoChartist. Nasdaq 100, 30 minute. Rising Wedge.

Note SPCE

Pennant, bias is a little bit up. Breakout to the new day high with good looking bull bar then it's an uptrend day.

Tomorrow, Tuesday starts the bank earnings cycle with GS and JPM reporting BEFORE THE OPEN. (earnings expected to beat)

ALSO FOR Tuesday 8:30 am: CPI NUMBERS will be important. I’ll be watching Tuesday’s pre-market for big increase in CPI and down SPX.
Which means that today, Monday, PROTECT PROFITS AND LIMIT DOWNSIDE RISK
(Recall that the last release of CPI, up, was June 10, whereupon the market went up three more days before it went down a mere -2.3% in three days… then recovered)
(Recall that the calculation of core inflation excludes the stuff we actually have to spend money on, like food and energy and more)
CPI 411:
https://www.bls.gov/opub/btn/volume-1/c ... us-cpi.htm

"Just 3 Stocks Power 75% Of Warren Buffett's Profit"
[Spoiler: "All told, the value of Berkshire Hathaway's last reported U.S.-listed holdings is up $37.5 billion this year. And of that gain, Apple accounts for 29.4%, Bank of America 25.7% and American Express 20.6%."]

https://www.investors.com/etfs-and-fund ... ts-profit/

Testing day high, I don't think it'd be a double top here. Could be a consolidation then breakout. Let's see.

3rd test of the the day high, now breakout is more likely.

It's a perfect breakout pattern now.

It’s Coming
By Sven Henrich on July 12, 2021
https://northmantrader.com/2021/07/12/its-coming-4/

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

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/ ... /533449374