05/24/2023 Live Update

[Cobra]

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Measured move down?

[JFR]

ES daily.

Barely hanging on to the EMA 20.

Following a bearish marubozu candle yesterday.

Beneath the 4153 level of the EMA 20.

[JFR]

ES 60 minutes.

Very strong bearish action.

Approaching S1.

EMAs 5, 10 and 20 all down strong, and widening.

[JFR]

ES 5 minutes.

Testing down on a key support level, 4138.

[JFR]

ES 5 minutes.

Quick test down to S1.

4100 just below.

I might day trade some today. We will see. Although at present I am mostly in a bullish mindset.

Later ...

[marcueus2]

ehh, this market is insane to be honest. Even current drop down is still not enough to makethe top and we will get slightly above 4215 this or next week So hard for the bears

[te_fern]

On the SPX some resistance down here. 4110 is a big area to watch.... There is also a gap to fill at some point...

[te_fern]

At 4110 now....

[Cobra]

Members only update at 10:15 am
http://www.cobrasmarketview.com/2023/05 ... ay-update/

[te_fern]

Finding some buyers down here. I think I'm going to watch some more. Buying too early always seems to cost me money!! LOL!

[Cobra]

Break to the new day low with good looking bear bar in the next couple of bars then it's an early sign of an uptrend day.

[Al_Dente]

The circular firing squad [debt ceiling]
McCarthy press conference in one hour

[Al_Dente]

BIG TECH
plus SPY (purple) for context

[Serenity]

The circular firing squad [debt ceiling]
McCarthy press conference in one hour

That gives us few points up and few points down, Yo_Yo market( sideway till Friday) and then a drop on Friday and then a rally on Tuesday.

[Al_Dente]

Posted on 5/22: I question if the SPY breakout can hold, given the two bottom panels. Daily

UPDATE, daily:

[BullBear52x]

Very over sold now, my red line pivot. turn here or another big leg down to /ES 4080.

[BullBear52x]

/ES 4127 magic number is action as a resistance atm.

[Trades w 2 Cats]

Get your popcorn-

https://www.speaker.gov/live/

[Cobra]

It's the very first test of EMA20 today so could attract some sellers, let's see whether they're strong enough to take down the price.

[BullBear52x]

Big picture, a Failed breakout, bearish crossed confirms it. for now....