Cobra's Market View

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Kind of descending triangle so breakdown is a little bit more likely.

[/attachment] Still in the range. Barely. Still coloring inside the lines.
Wave count is very difficult right now. Need that breakout to new all time highs.

VPOC for the five days at 6472. So finally playing in the upper half of the balance.

Look below and failed. now look above and failed?

Should be a rebound here first which likely would be sold later.

Slippery when wet eh?

The turn has started.

Testing the five day range from below. Even if this back test works for the bears we have Powell Friday morning. His Jackson Hole speech has marked big market turns in the past.

My guess is that the Fed has some idea about upcoming BLS data revisions to prior employment reports. Which are expected to be very negative.

I think 40% chances of double bottom here.

This is what makes you to go Hmm....seller beware, the down side will have a lot of support. the day like today with a postive A/D? Peace!

Primary count about to go in the circular file if we go any lower.

This bear shall have legs.

If the short term top is in from the August low then today was the easy part of the drop.

Right there at maximum for a wave 4. We will see if this market goes up tomorrow or if it is time for the alternate count!

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449381