Cobra's Market View

Up 2 weeks in a row, the next week has 54% chances to close up, 75% chances to make a higher high.

SPY daily.

Pretty much all good, for the bulls.

Higher open. Higher close. Higher low. Higher high.

Many strong bullish candles since the low of August 5.

Two gap and go moves on the way up.

Many resistance levels cleared.

Eyes on the top of July 16.

Sto up.

MACD and the Histogram up.

EMAs 20, 50 and 100 up, and in the right order.

A negative: not operating in the clear blue sky of all-time highs.

A negative: not pushing the upside envelope of the Bollinger.

Bias for this trader is bullish. Mostly with day trades.

Have a good weekend.

From"It is what it is department" We have to know where we were and where we are before we will know where we want to go. TA will tell us that, it's make or break time, react to it and don't predict. daily trend following: entering sell the rip zone, first thing first, react to it until it fails. sell signal is not yet trigger, Patience! Swing setup: no change, dip will be bought, know your time frame of a trade, keep it simple. Intraday: same playbook, as long as we trade higher, new swing high day after day, and trade well above 61.8% each day, don't sell. same playbook, simple stuff like this can get you an extra mile, TA is not meant to be guessing. Trade well, Peace!

took a modest SPXU position at 27.2 for fun trade biased on
https://stockcharts.com/h-sc/ui?s=%24VI ... 0105604977
https://stockcharts.com/h-sc/ui?s=%24VI ... 0599455137

Using my system (which has not worked for the bears in this election year) says bear trade is still on whilst the emas are where they are.

Am I a bear for thinking that we will eventually hit this ema? Perhaps after this election, whoever wins?
What about 35% below that ema? I think that is being bearish.
This is why I dont make money as a bull because I dont trust any of it when it is like this. And dont mention pe ratios and 3T dollar companies!