Cobra's Market View

Down 1 week, the next week has 60% chances to close up.

Opinion ...

SPY daily.

Bias is still up in my opinion. EMAs 50 and 100 up. EMA 20 flat, after 10 or 11 days in a base.

Huge down candle with high volume on Thursday.

MACD and STO down.

Helluva move up since January.

Why is my bias still up? Recovery day Friday, on a strong bullish candle, finishing above the EMA 20. No knockout of the bulls, who are always very resilient, and always looking to buy on pullbacks.

I hold some longs, but exited some others this week. Following Buffett's attitude, I do not fall in love with a stock. I follow the charts. For SPY itself, I am flat. I am starting to plan more for some short positions.

Next week is a new ballgame, results unknown. Careful decisions and actions required.

Just in my opinion.

Hey JFR, love your post... this is a very confusing market right now!..

koolblue wrote: ↑Sun Apr 07, 2024 7:16 am Hey JFR, love your post... this is a very confusing market right now!.. big picture 4 hour chart.png

Thanks, koolblue.

Most players have an opinion on the market. Otherwise they should not play. My opinions are not ''locked in.'' As a day trader they can change in a flash.

I see you switched from MES previously to ES lately. Bigger market, more danger. And I see you are posting some trades on ES. As always it helps less experienced members if the entries are shown at the time of entry, which you have done sometimes, and it is appreciated.

I do not post trades, although one could speculate that I trade the stocks, whose charts I post. That would be correct, but the next step is deciding when to enter and exit. I am more of a momentum trader, not so much on fades at various support and resistance.

Keep up the good work. Your contributions and detailed charts are appreciated.

Roman Bogomazov is offering another FREE market discussion. Always great: https://register.gotowebinar.com/regist ... ?source=WA