Cobra's Market View

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Will need leave very early in the morning (can be back around open though) so have to open the thread tonight. The market probably is waiting for the 8:30 AM Non Farm Payroll report which may dramatically change everything so no point to watch the future now.

Good luck everyone, I'll see you tomorrow after the open.

Thanks Cobra!!

Price is pinching...like the small end of a funnel?

Enjoy watching AAPL. Potential Swing with stop under that last LOW POLE.

It's a morning hourly filled black bar.

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

Day 12th of no where. looks like a very positive day but TRIN is way high to be bullish.

Intraday, same playbook.

Flat here. Bull target now VIX 20. Everyone was a bear and the VIX broke support.
https://stockcharts.com/h-sc/ui?s=$VIX& ... 1309525406
https://schrts.co/jkTJzAzw

I had a 50% SPXU buy back order in at 16.33, but will likely cancel now. Replaced at 16.14.

On a swing setup, we are entering sell the rips zone. since we are in a sideways market the trading method will be best at buy Lo sell Hi.

"It's becoming increasingly clear Tesla is just another car company"

https://www.businessinsider.com/tesla-j ... ock-2023-1

ES daily.

Still in the same wide base. Pushing up against the EMA 20.

ES 60 minutes.

Huge moves within each hour, oftentimes settling back near the middle of the candlestick, as a doji. In other words, lots of action, thrashing, but not making progress up or down.

Dow 30.

A whole lotta green.

Led by Dow Holdings, WBA and AMGN.

Trailing: UNH, HD and MSFT.

Over extended triangle, soon we will run out of letters to mark it.

Al_Dente wrote:"It's becoming increasingly clear Tesla is just another car company"

Just another? From a valuation standpoint it's still "3 car companies--GM + Ford + Toyota". (per Bloomberg, earlier today)

How absurd is that--even still?

Daniel wrote:

Al_Dente wrote:"It's becoming increasingly clear Tesla is just another car company"

Just another? From a valuation standpoint it's still "3 car companies--GM + Ford + Toyota". (per Bloomberg, earlier today)

How absurd is that--even still?

Did they just bought Mercedes? the new Zuckerberge, lots of Hero in bull market, we will soon see if Musk is the real deal.

BullBear52x wrote: ...we will soon see if Musk is the real deal.

Tesla stock is down 70% in a year. That has to weigh on him--or anyone--psychologically. And for someone with a big ego, it can blow up into a serious depression (or compensatory mania). I'd keep a close eye on him, if I were a shareholder.

Intraday bears be cautious-- NYSE and Naz advancers both just pushed to a fresh HOD. IWM and SPY are both trying to break and hold above recent local highs. If they do it could be a quick rush up to longer term resistance.