Cobra's Market View

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Maybe it's a rising wedge so a pullback is due. Testing the wedge lower boundary now, let's see whether there's still a push up to test the wedge upper boundary.

I forgot to add on the bearish case that volume has been anemic the whole rally so far, and the fisher momentum is low compared to other rallies .

SPY 15. Hella good day Friday. Backsliding a bit this morning.

ES daily. 3 Push Up. Resistance/Target at 4300 just above.

ES 60 minutes. Moving up by "fits and starts." Pushing down beneath the Pivot this morning.

ES 5 minutes. The bears are dominating so far today. Pushing down twice beneath the Pivot. Finding some support at 4249.

ES 5 minutes. Ready to go long on some scalps? Ha ha. It is getting closer. But the bears have been very active and successful so far today. Bulls making a little push.

Cobra: “This bull has legs”

Cletus: “This bull is about to have its legs cut off”

May the best analyst win

ES 5 minutes. Yowsuh. Hella good breakout. I missed it. Too busy posting. Ha ha. There are more fish in the sea.

One minute. NYSE Ticks and ES.

Be careful. There is danger out there. ES is moving up, but the Ticks have mostly been below zero. The bears are still out there. Scalping weather. As the police roll sergeant would say: "Let's be careful out there."

ES 5 minutes. Eyes on 4300. We will see.

It's a morning hourly hollow red.

ES 5 minutes. The market is catching its breath.

Taking a break. Back later ...

cletus, I think you don't understand what "this bull has legs" means.

"The pullback should be bought which is what this bull shall have legs means."
quote from COBRA Re: 05/28/2021 Live Update
Postby Cobra » Fri May 28, 2021 1:00 pm

ES 5 minutes. The battle is on. No runaway for the bears, after early success. No runaway for the bulls. Heavy lifting needed to reach 4300. And yet the market can fall of its own weight. Lively day so far.

merryme wrote:cletus, I think you don't understand what "this bull has legs" means.

"The pullback should be bought which is what this bull shall have legs means."
quote from COBRA Re: 05/28/2021 Live Update
Postby Cobra » Fri May 28, 2021 1:00 pm

cletus should start his own website. He is always sniping at Cobra, trying to show superior insight and knowledge. Cobra is very tolerant and patient.

The problem for cletus is that no one would go to to his website.

true dat! All ego!

ES 5 minutes. Looking for a foothold after a breakout above 4275.