Cobra's Market View

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The pullback probably will be bought, at least a lower high is expected in general.

Overnight action was negative, net shorts. overbought market, for day trade, it's mater of 10-20 handles. let's hope we have a good trend day. Up or Down. looks like a gap play is in the card, will it Go? it's a question? time frame of a trade maters. plan your trade and trade your plan. overall market is .....FOMO Bulls.

SPY's ADX for daily look. nothing to see for bears in daily view.

Can't get out of Friday's upper distribution.

This week is supposed to be the largest amount of data releases for the year. With tech titans and Fed and GDP etc could make people cautious while they wait.

Pullback to EMA and up and out of the value zone. Maybe the Bulls are going to try today.

For Wed Fed- betting markets say no change but guidance needs to confirm 2 cuts by January

OR low is key, buyers are weaker than I thought.

Open range Hi has problem, lets try range low should we? all we need is 10-20 points then will talk bulls or bears market.LOL

Simple trading strategies:
Range: buy Lo sell Hi, 5 points stop, Lowest R/R, target 1:3 ratio
Trending: Buy/Sell breakout. 5 points stop, Lowest R/R, target 1:3 ratio

You do anything differently, there is trading psychology in there some where. Hahaha

Maybe the pullback has legs? So far it's a range day though so leg or not, for now I expect the pullback to be bought.

How do I deal with "Look above and failed/Look below and failed" ? simple, do nothing inside the opening range. peace of mind, breakout play only. keep it simple.

Swing setup: buy trigged, new buy new box, make or break. first thing first, no HH on intraday to really get me to buy, if this buy fail we will have a trend change on hand. Peace!

Intraday, down trend. bears will not have a home run until we closed under 38.2%. a lot of support yet. be nimble, transitional junction here. GLTA.

ES daily.

Very near the peak.

Catching its breath.

A long, steady climb since April.

No compelling reason to stop. Yet.

ES hourly.

Pullback through R1 and through the Pivot.

50 points on the pullback. $2500 for 1 contract.

"Thar's gold in them, thar hills." Even on a pullback.

https://www.youtube.com/watch?v=lXZk_wSzUKc

ES 5 minutes.

Slip sliding down the slope.

Riding the zipline of the EMA 20.

All the way to S1.

And there it finds some support.

Three rotations down from VPOC getting us out of the value range. Waiting to see what comes next.