06/24/2022 Live Update

[Cobra]

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Consolidation overnight so bias is up but resistances are not far away now.

[koolblue]

This post is mainly for daytraders.

[koolblue]

The correct way to use the Gann numbers is for when price moves thru on number , (not for exact points of support/resistance tho it will sometimes seem like it), it has a marked tendency to achieve the next number. I look for interesting con fluence of my fibs, Gann numbers, and of course indicators. for instance if, (when) the 3837 gets taken out, they will head to 3844-46,etc

[cletus]

Cletus open notes:

1) NQ has already broken past a key resistance so other indices might follow today or later next week
2) Market is very "gap happy" right now, gapping over gaps on a regular basis. This is good and bad news for bulls. The market is doing cleanup work on some upside gaps but leaving enough gaps over gaps below that I am becoming less convinced that this bounce will be anything but a bear market rally, and to date has been pretty lackluster anyway
3) Bear in mind the one very bullish possibility if we rally right to 4,000-4,100. Still on the table, but with all these gaps to fill below I am not sure of this anymore. I do think we are more likely to touch 4,000 before we touch 3,650 again though

[cletus]

Bonus Notes:

1) A bear market rally would typically terminate with the VIX falling below 20. Long ways to go for that.
2) Today did gap over a gap so it might not build into a trend day, but will probably still close up

[BullBear52x]

ES looking up to 3861, resistance zone on cash SPX, take out the line or the line win.

[BullBear52x]

ES, resistance zone also. very overbought short term.

[koolblue]

The correct way to use the Gann numbers is for when price moves thru on number , (not for exact points of support/resistance tho it will sometimes seem like it), it has a marked tendency to achieve the next number. I look for interesting con fluence of my fibs, Gann numbers, and of course indicators. for instance if, (when) the 3837 gets taken out, they will head to 3844-46,etc

Itraded da numbers to show their validity.. After the open ,i went long 3837.25, cause it was resistance for 7 hours last night. Ihave the next fib at 3845 and Gann at 3844. So i exited at 3842 for 4.75 points (2 contracts) plus 9.50 total. then i sold 3845 cause of the fib and regression upper band . exited at 3842.75 cause i really want to be long here. Plus 2.25(one contract) . Total over 11 points in about 10 min. And yes i just sold one at 3857.75.Wish me luck..exit quick around 3850-51 i hope

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2022/06 ... ay-update/

[koolblue]

stopped loss of 7 points.. Looks like i got the days call right. c ya!

[Cobra]

Breakout here would be an early sign of an uptrend day.

[BullBear52x]

Gaps, the unfinished business. dips will be bought but will we have up trend after almost 100 up? it will be hard press.

[JFR]

ES daily. Breakout of the range. Up to the EMA 20.

[Cobra]

Breakout is a little more likely which if it does and with good looking bull bull bar then it's an uptrend day.

[JFR]

SPY 15 minutes. Strong move up. Finding some resistance.

[JFR]

Dow 30. Lots of green. CRM leading. VZ trailing.

[JFR]

Alternatives. Making gains: DBC, IYR, SPYG, SPYV, USO. Market value down: TLT and UUP.

[Al_Dente]

Call it an inverse H&S or a confirmed bottom,
the eventual target is the same
5m

[koolblue]

[JFR]

SPY 5 minutes. Price action. Looking for a breakout or a breakdown.

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