10/07/2022 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to cobra@cobrasmarketview.com.

=============================================================================================================================================================================

Double top or not, wait and see.

[JFR]

ES daily. Sitting on a ledge. Testing down beneath 3743.

[JFR]

ES 60 minutes. Breaking out of a very wide base. Huge move down beneath S1, looking at S2 below.

[JFR]

https://www.cnn.com/business/live-news/ ... index.html

5 min ago

Stocks sink after hotter-than-forecast job report

From CNN Business' David Goldman

Investors were less than pleased after September's job totals came in a bit stronger than expected. With 263,000 jobs added to the US economy last month, the Fed's rate hikes may not be having the slowdown effect policymakers had hoped for.

The Fed was hoping that a long series of historic rate hikes would slow down the economy and bring inflation lower. But the job market remains stubbornly robust, which means the Fed has more room to keep hiking rates.

Rate hikes eat into corporate profits, which has sent stocks sinking sharply in 2022.

Dow futures fell 140 points or 0.5%.

S&P 500 futures were down 0.8%.

Nasdaq futures were 1.3% lower.

[JFR]

ES 5 minutes. Down and down. All the way to S2, where it finds some support.

[JFR]

SPY 2 hours. My bias is down, for the time being. In this market things can change in a flash.

[BullBear52x]

Gapsville

[BullBear52x]

Price action: Only price pays, the gaped up few days ago just evaporated. back to down trend again. bulls will need miracle to turn around.

[JFR]

ES 5 minutes. Testing down beneath S2.

[BullBear52x]

/ES eyeing 3661, it's Friday, will call it a day if we hit that level.

[JFR]

ES 5 minutes. Finding some support, some brave buyers.

Taking a break ...

[JFR]

ES 5 minutes. Pushing down beneath support.

Later ...

[Cobra]

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

[JFR]

ES 5 minutes. Hanging beneath the EMA 20. Waiting for the next move.

[Cobra]

Bear flag breakdown?

[JFR]

SPY 1 minute. Point and Figure. After a big move down, sideways. Waiting for a breakout.

[Daniel]

Bear flag breakdown?

QQQ fresh lod. SPY, IWM not yet.

[BullBear52x]

For trend followers (ONLY) .

a trade above MA resistance from here will tell me 2x bottom. sideways to up, for trend to continue LL must printed before that MA resistance fails to hold.

[BullBear52x]

I am not that greedy, /ES 3661 that's all I am asking for today.

[Daniel]

From Briefing.com..
"FedEx (FDX 150.04, -5.14, -3.3%) shows steep losses following reports that an internal memo indicated the ground division expects lowers volumes during holiday season. UPS (UPS 160.27, -5.32, -3.2%) trades down in sympathy. Avis Budget (CAR 179.45, +1.38, +0.8%) is the only DJTA component trading up today."

Transports lead..?