Cobra's Market View

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to cobra@cobrasmarketview.com.

===============================================================================================================================

Could be a triangle so bias is a little bit up.

ES daily.

Second day sitting on the EMA 20.

And a doji once again.

The market needs to make up its mind.

ES 60 minutes.

Two days in the same, tight trading range.

ES 5 minutes.

Three moves up in the pre-market.

From 5246 to 5268.

Stuck beneath resistance at this point.

inside day inside box. Money is on inflation side. interest rate hike is more likely if data driven

Is this August or January? only price pays with more and more internals seem to be calm be fore the storm.

It's a morning hourly filled black bar

SPY daily.

In a trading range, tucked inside the huge marubozu bear candle from Thursday.

Sitting on the EMA 20.

Up in March.

Flat in April.

Some ''gurus'' who make predictions such as Tom Bowley, Joanne Klein, Martin Pring and Fisher Investments are bullish. Fair enough, but I will focus on day trades. But also with some long holdings.

I am not a GURU, but if we have LL on daily from last Thursday, this trend following buy dip will fail, and market top will be called out, but that just me, what do I know?

EMA20 here is the bear's last chance for a 2nd leg down.

basic HH, HL, LH, LL is basic must known and understand for basic TA, but it's not as simple to some. Swing setup: no change, need to see clear breakout. bearish bias but LL is needed for a success selling. Intraday: inside day, sideways. no bias, any thing goes, as of now it is on a weaker side under 38.2%. Internals: it is a fearful market, surprise is on the down side. trade well. Peace!

BullBear52x wrote: ↑Tue Apr 09, 2024 11:12 am I am not a GURU, but if we have LL on daily from last Thursday, this trend following buy dip will fail, and market top will be called out, but that just me, what do I know?

Yes you are a guru. You talk like a guru. You use words like a guru. LL trend buy dip market top ... All that stuff. Ha ha.
And Will Rogers advised: "Only buy stocks that go up. If they don't go up, don't buy them."

Bonus chart: talking about fear, watch $VIX >16 and above the down trend, once the fear hits the market and the correction taking the place, the pull back to 61.8% is common. prediction? Nahhhhh, it's just a law of probability, just like any TA study.

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