Cobra's Market View

Up 3 weeks in a row, 79% chances higher high ahead the next week, so more up.

Profile of Jamie Dimon, JPM
https://www.youtube.com/watch?v=AkHbB9GuCkE

Over the weekend, please take a little time to vote for Cobra, thanks: https://stockcharts.com/public/1684859/ ... /533449377

SPY daily.

In a base, after a good move up since July 15.

Which way will it break out? Que sera ... As BnB52x would say, just play the TA. Agreed.

From"It is what it is department" Lets talk TA Market is bullish and Overbought. it's healthy for it to have a relief rally pull back before continue higher in classical bullish move, overall down trend market is clear. I see it as a dead cat bounce nothing more until a pull back and re-run to new HH to convince me that the bull market may be coming to a new start.

Looking at weekly, it is at a key resistance of 20 DMA or Mid BB. Last week closed is questionable in its strength, MACD is positive and bullish, RSI is in an overbought and caution for new buy entry. bulls need to push higher from here or down we go. Bullish% is above 70 for week now, and finally it shows sign of exhaustion. not quite cross under 5 DMA but it gave us a heads up for the weakness to come.. Daily trend following setup is on Buy the dip, my swing setup using 5 min. is entering sell the rips. as you can see the last two sells failed (the buys are not all that smooth ride either), but first thing first, sell first and will see if it will be another fail or not, very close to 5DMA bullish above and bearish under as the usual on this time frame. Intraday: Friday end the day somewhat neutral. can not say it's bullish nor bearish in price action. same playbook, above 61.8% trade into Monday will be bullish, any thing under will be bearish since we have yet another swing low lower than the day before. Trade well, Peace!

$AAII bull - $AAII bear keeps rising but overall retailers are not very bullish yet, so good news for bulls?

Interesting read from Jonathon Krinsky (bloomberg finance)

And from Jeffrey Hirsch: Translation: weakness into Aug.10-11, up a few days into Aug 17th-18th then sideways to down till a big rally near the end of the month

And from yours truly:

koolblue wrote:

50%.png

Interesting read from Jonathon Krinsky (bloomberg finance)

Check 2007-2009 bear market, then there was such move 1280 till 1440 it eexceed 50% and we get new LL after

yep!

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Sam Shames:
"Interesting strength showing up in the IWM. That coincides with strength in the high-beta-sh*t index and may lead to some big short squeezes in the weeks to come, let’s dive in."

Formula for TOS and TradingView Charts:
ROKU/4*0.10+ZM/2.8*0.13+TWTR/0.5*0.06+PINS/0.5*0.06+SNAP/0.5*0.15+PTON/0.5*0.05+PYPL/2.2*0.15+SQ/2.3*0.15+TDOC/1.4*0.05+DOCU/2.5*0.10

Video explanation:
https://www.simplertrading.com/daily/op ... n-be-born/

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