Cobra's Market View

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Lower high or not, wait and see.

ES daily.

It's a breakout, and it is holding so far.

Bias is up. But do not trust wholeheartedly. All in? Nope.

ES 60 minutes.

In a trading range.

Between the Pivot and R1.

At the top of the range, looking above.

ES 5 minutes.

It has moved up a level this morning.

At the bottom of the range.

All is quiet 40 minutes before the open.

This dip will be boght, first thing first.

They are back.

New Buy new box, make or break, the A/D line is favoring the bears atm.

A/D line, early bird warning. minimum requirement to got bearish.

Intraday: new swing low will be very bearish and stop out the the swing buy setup. only price pays....bulls buying or die.OK you know where I am going at this line. do or die, Peace!

From my WatchList.

2 shipping stocks came up today on a scan.

GSL and SBLK.

Not recommending. SPY itself is down on the day.

Back later ...

Very much in the range defined last week. Negative bias to price movement which is not the normal pattern. Supposed to be positive on a Monday morning. My guess is big players are slow to make decisions based on cocktail time stories in the Hampton's.

No rebound around now then it's a downtrend day, beware.

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

Chart for the road: Gap and Go or No Go. Red line is a post mark. Peace!

Pretty clear what the controlling trend line is so far today. Wondering if we get a fifth touch are reverse.

Revisiting the previous low, let's see whether bulls can make a double bottom here.

I'll be away from the desk, no guarantee any updates before the market closes. For now bulls are trying to make a stand, hard to say whether they could make it or not.

Back at VPOC for Thursday through today. Sure looks like 6270 ish is the make or break level for now.