Cobra's Market View

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Touched the rising wedge upper boundary then pullback. Don't know whether it'd pull all the way back to the lower boundary. Chances are it's another down (a little bit) in morning then up and up till the close day. Oh, maybe a little roller coaster show around 2 pm but probably will resume up. The market has decided that there'd be a rate cut early next year, no matter what Fed says...

ES daily.

A breakout.

Looking at the July high of 4686. Still a ways to go.

Well above the EMA 20.

ES 60 minutes.

Good ups on Monday and Tuesday.

In a range now for over 15 hours.

ES 5 minutes.

Choppy action prior to the opening.

Like skittish race horses waiting for the gates to open.

Behold the power of the double zero price level.

Roll is about 80% and clearly March contract is running the show on this range day while we wait for the Fed to speak.

Watching this channel. Would like to see a pullback within it...

The pullback probably will be bought.

Was it a double top? Need FOMC statements to make that determination!

Side note, market has gone into a coma, my 20 bar ATR is at 6, hasn't been that low in months! Monday and Tuesday it was running around 12 to 14.

Getting the pullback, would still like it to hit the lower rail.. We'll see what JPowell does to it at 2:00!!

Swing setup: samo samo different day, dips will be bought.

Intraday: new swing high, bullish bias, find excuse to buy until 38.2% is losing a support.

Intrernals, another negative mood today, will see how the FOMC can change this, bearish bias atm. Peace!

Sitting on the lower red MA line, almost to the lower rail... No guts to buy before the Fed! LOL!

Fed or no Fed, new Buy new Box, make or break, but why today? first thing first always.

The pullback was larger than I thought. Now sharp rebound before the roller coaster show which usually means the low was in if not the roller coaster show is in 5 min.

Fed day or not, why is it mater if you have an entry and a stop setup. it's all about risk management and the outcome is still based on law of probability.

where can you get over 20 handles in a mater of minutes? "Only in America" Don King

This market is unbelievably bullish.

The pullback will be bought. FOMC usually closes weaker though (so probably will not close at high of the day).