Cobra's Market View

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Rising wedge so the rebound is near end?

2 interesting charts twitter just pushed to me:

Typically, the pullback would be bought and the rebound would break the blue line above, typically.

So it went exactly typically: pullback being bought then make a new high. The current pullback probably would be bought again because the breakout was strong.

The pullback probably will be bought again but this time I see possible 3 Push Up so the coming "bought" might not make a new high (just might, more often there'll be a 4th push up to make a new high before the pullback).

Cobra wrote:2 interesting charts twitter just pushed to me:

What do you make of this?

Watching Semi's here to see how this plays out.

Swing setup, buy the dips to continue.

Intraday: it is bullish that we have swing high, positive price action. same playbook. buy until it fails.

Swing high today resets the pull back, looking up unless new recent low were taken out unexpectedly, lets see what the Fed got to say, I hope they will throw another bone for us. woof woof ralf urff. Peace!

Again, more often there'll be a 4th push up before a pullback can be possible as illustrated by dashed blue lines.

So far goes as expected (fulfilled lines are now solid line instead of dashed). Typically there's a lower high rebound at least (dashed blue line), let's see.

So goes as typical. Now closing time anything can happen, my guess is down because FOMC tomorrow and bulls have lots of profits recently so they might want book now .

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449381

SPY 5 minutes.

Trend day.