Cobra's Market View

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Kind of ascending triangle so breakout on the upside is more likely.

ES daily.

Status quo.

No gain. No loss.

Bulls and bears with equal activity.

And lots of watching and waiting.

Resting on the high of March, all-time high.

ES 60 minutes.

On the hourly chart, it is in a range, with changing levels.

At present, the range is between the Pivot and 6312.

It needs a breakout, either up or down.

ES 5 minutes.

Up, then down.

Finding levels.

Index ETFs and futures.

Is the stock market moving? Nope.

Could it take off? Sure. The players are always there.

Back a bit later ...

Range to defeat, can we do it? day trader cake walk.

When in doubt, look at A/D line.

Fear NOT!

Want to confuse yourself? watch the news. haha

Renewed strength, maybe this bull shall have legs.

Intraday: new swing high, it is bullish bias, nothing much to say a melt up and gringd up, dips will be bought. same playbook.

At this Junction!!! this is high probability to create a 2x top. 10 points strategy stop on short selling is good setup at this point. so....the counter trade crew will make a move right arround here. make or break it's individual time frame of a trade. I will wait for dip buy setup from here.

The pullback was bought as expected (which is what this bull shall have legs means), now let's see whether bears can make a lower high therefore reverses the trend of the day.

RED line on my trade. keep it simple, Peace!

This bull may still have legs.

ES 6,333.75 is what I have for a spike high from a couple of days ago.

Should be a bunch of resting orders around the high. Waiting to see commitment by the bulls.

I hace ES New York Hours VPOC at 6322.50. That could stop the drop.