Cobra's Market View

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Lower high? So the rally was over? Now testing the support, let's see any rebound here.

ES daily.

Day 2 of the pullback from the high of February 2, and beneath 4180, which was the high of December 13.

Eyes on the EMA 20 below, or back to the recent high? IMO it is a toss-up. Today will tell a lot.

ES 60 minutes.

Actions both ways.

Thursday and Friday started pulling back. All the way through R1, through the Pivot, through S1, where it is trapped below for the time being.

ES 5 minutes.

In a base, between S1 above and support at 4112. Also struggling to get above the EMA 20.

Source

https://www.cnn.com/markets/fear-and-gr ... ess_ribbon

Fear and Greed.

I look at it, note it, but do not get too excited about the readings. But it is in the back of the mind, as you trade. When the reading is greed, beware the end of the trend up.

One of the components showing Extreme Greed.

For what it is worth, and for this trader it is worth something. A back of the mind note.

ES 15 minutes.

The stronger move is down.

Then a move up.

Now the market is deciding: Stay with the move down. Or go with a heavy lifting move up.

Breakout above S1, for what it is worth.

Probably trading lightly today, for me. Some index scalps, and I might look for some stocks to swing trade.

"Let's be safe out there."

Thanks JFR, good info!

te_fern wrote:Thanks JFR, good info!

You are welcome, te_fern. I could use your real name, but we do like our privacy. Ha ha.

4090-4054 /ES today or tomorrow, so we can tell if the support will be there for the long haul. lets hope for a trend day. Up/Down as long as good long range to trade. need gas money only day I get to trade this week.

Same playbook, think auction. sell the rips today.

It's a morning hourly hollow red

It doesn't matter today, continue down now or it will get ambush at the gap fill one way or the other. I hate it when I am so sure of market direction.

Whipsaw kind of day!

a new LL from here will increase the odds of down trend day.

As expected, red line to keep the down trend and negative price action going.

Sitting on the edge. My wave count really needs this market to not drop. If it drops hard that 123 becomes abc and I will be in trouble!

Last stand for the short term bulls, next intraday sell the rip setup will tell, if 5 DMA will give a support for today or not.

Intraday sell setup, no new LL from here then the low will be in, range day no trade and boring if no new LL.

Last chart, you can see here the up trend will come to an end of we have new LL intraday, a breakdown will be so easy to see, Bearish crossed are now in sync, I am over posted today, sorry, Peace!

Breakout is more likely.