Cobra's Market View

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Double bottom? Maybe too small to support a huge rally so if indeed it's a double bottom, it'd be just a rebound?

Trend following setup, entering buy the dip, RSI > 30 will trigger buy.

SPY 15. Down day Monday. Flat overnight.

Lower channel watch. sell for now but will use 4127 /ES as a pivot.

ES daily. After a strong move up, resistance at 4300 was insurmountable. Pullback to just beneath the EMA 20.

ES 60 minutes. Down. Down. And down. It has flattened out since the close of yesterday's day session.

same playbook. Bears are in control under 38.2%

ES 5 minutes. A move up. A flat period. And now the wild action of the opening.

https://stockcharts.com/h-sc/ui?s=SPY&p ... 3260462966

UK 19% inflation..
https://www.marketwatch.com/story/u-k-f ... 1661190407

ES 1 minute. The danger of the opening. Sharp moves and some chop.

Some resistances here.

anyone else see 3 push?

SPY 5 minutes. Price action.

I am not trading right now. Busy with some other stuff. Scalping and day trading need full attention.

But at a glance, the price action looks just ugly. Chop. Spikes. No nice little trends.

Gonna take a break. Maybe the price action looks more agreeable a bit later.

/ES 4127 magic number

Range day

New HH will be a chase buy, new LL will be a chase sell. stay in the range we are all go to sleep. Zzzzz

Momentum selling, no new LL from here then boring day all day.

Still not sure whether it's a double bottom here. I'm relatively sure though the line below may not hold another test so better be a double bottom!

Shorts are stubborn... they don't really want to cover just yet...
when they do..... squeeze

puts... still...