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].

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

I'm sure it can go either up or down or flat here, cannot be wrong

Open above 61.8%, net longs overnight. it's Friday, Quick Ins/Outs.

SPY daily

At an all-time high.

But it needs a breakout.

My internet security is fighting me. Avast has stopped me on my desktop from accessing this site. This post is from a tablet. Gawd.

SPY hourly

2 stair steps up. 1 step down.

At key resistance.

I am expecting a pull back, intraday will buy dips but trust market Not. very overbought.

ES 5 minutes.

Aiyahhh. Down. Beneath the Pivot.

No longs for me today, methinks. Or maybe I just go back to sleep. Ha ha.

I like short sales also, but I am geared up for longs at this time.

Avast let me in here this time. WTF. Gawd.

Is that the token effort of the bears today? Any more?

Overnight inventory got wiped out. Intraday: new swing high, it is bullish bias, but if we tank under 38.2% it will be a sell day for me.

Second days of negative AD. people are worried a little here.

Building out a normal distribution as we stay in this multi-day range.

The inflation numbers were supposed to seal the deal for rate cuts starting in September. That is not happening, so market needs a new story to tell at the cocktail parties in the Hampton's. I guess we will find out next week if the new story is as good as the one that got us to these levels.

Elliott Wave counters are all pretty much waiting for the last up move. Their bottom line is a 5% or more correction coming our way, just no certainty of when. I find the counting to be beyond my ability at this time. This range is very complex!

Swing setup: New buy, new box. bears will have no chance for a trend change until this low is taken out.

Buy failed, now the Bears can challenge all the rips intraday.

Good called, Cobra. now I can see a HL intraday. man...bears just can't do the damage.

Maybe the low was in. Sometimes there might be a revisit of the day low to make a higher low.

Stick to the process.

That's all she wrote today. settle in no man's land for the weekend. Peace!

A close below 38.2% will be a bearish piercing candle. bulls will not allow that or will they?. Trade well. have a good one.

I cleaned up the ADX by going to 34 n and the replacement for DI =- by going to 21n. Now it seems to do a better job showing rotations on the standard 2,000 tick ES chart.

Market is probably pinned by the trading houses due to opex today. Thinking the last 30 minutes will give us a hint as to where we will be going next week. With the action this week it should be easy for the opinion writers to get out a newsletter. Ha Ha