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 [email protected].

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

Higher low, therefore the low was in?

Pretty clear we are trading range bound rules so far today.

Of course by the time I got that posted we had a breakout. Lets see if it can go anywhere.

ES daily.

Sideways since May 12.

Above the EMA 20.

Eyes still on the top, imo.

ES 60 minutes.

No progress.

Sharp up and down on Thursday.

Since then the players have been asleep.

ES 5 minutes.

Some action at the open.

Quiet since then.

Trying for a breakout.

Trying out a linear regression indicator. Center line changes based on bar close while outer color based on regression channel direction. So far I like it. Called dpLRL.
Also upgraded to the 4 day old release of Ninja Trader. I like the improvements.

Nothing to say, it's a boring day so far. Here's my guess.

Big picture from 10,000 feet. 50 day providing support, but if this is just a monumental short squeeze then we are running out of momentum.

30 minute equivalent. Fib levels say we are going up with the Atlanta Fed GDP now.
My bigger problem is we are within the minimum move for wave 3's of a couple of higher degrees. So , following the rules, the summer swoon is on deck. The only question is where will the top be.

This is the most negative outlook I follow. Haven't changed anything for several days. He is counting everything as a large time frame pull back from a primary down trend.

So far goes as expected. Could be another up (dashed black line) to make a lower high or slightly higher high.

This is my 30 minute with 5 minute equivalent tick chart. Order Flow trade detector saying major level (last several days high) is being decided.

Wide angle of the same chart to give it some context. IF you had shorted after the failed TACO high wouldn't this area be the obvious choice for a stop? For swing traders that is.

Goes as expected. The up is stronger though so maybe now bias is a little bit up although a pullback still is expected but after which there might be another up.

ES 5 minutes.

Up the stair steps.

Ya can't stop the bulls.