Cobra's Market View

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Consolidation overnight, breakout on the upside is more likely. Need away from desk, will be back afternoon.

Intraday: another swing high, it is bullish bias, don't short the dull market as the old saying.....short term is very overbought in many measure. so I am 50/50 on both side, dip will be bought that is for sure.

Well defined range for now.

We are in the target range. Could extend beyond of course. If it heads south it would be the regular summer sell off.

Moved lower boundary up as we now have very clear range markers.

A classic climbing the wall of worry. there will be no reversal until the MA fails to support, so far it's easy trade for bulls.

ES daily.

At the top.

Very wide range.

Attempting another breakout.

ES hourly.

Also attempting a breakout here.

Nice move up on Wednesday.

ES 5 minutes.

Some playable moves.

The last one almost 20 points.

Mixed action on index Futures and ETFs.

Some up. Some down.

All's quiet on the Dow.

AMZN leading, so to speak.

Trailing, and taking hits, IBM, HON and UNH.

Alternative assets.

Oil up.

SPYG up modestly.

Gold down.

Risk on? Ha ha. Hardly.

More like No Man's Land.

They moved it up to the next option strike. I assume when fives and zeros denote levels the big market makers are defending positions.Given we are a record highs it is no surprise.

Buyers are not all that strong today, overbought + negative A/D. watch for the next dip if this high will stand.

Intraday: bullish, watch the RED line. do or don't.

WCP.TO Whitecap Resources

Founded in 2008. HQ in Calgary, Alberta.

Whitecap Resources, Inc. engages in the acquisition, development, and production of crude oil and natural gas. -- StockCharts

A quick check shows the fundamentals are satisfactory, not great. But the chart is very nice.

Not recommending, and I did not check the latest earnings or news, mostly technicals; that is, the chart caught my attention.

Back later on this quiet day ...

Well that sure looked like the kiss good by to the day's high. Time will tell.

Possible higher low.

Higher low, higher high. Waiting for something to derail the train is a long wait.