Cobra's Market View

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Don't know the low was in or not, generally a revisit of the previous low is needed for a solid bottom.

Gap to fill the gap. LOL. very overbought intraday.

It's a morning hourly filled black bar.

Gap play! the red line got chopped into pieces. overtrade at this junction is NO NO!

> 60% chance it's range day, range trade, buy low sell high is in play, overtrade is no no. I will buy 2x bottom or sell 2x top only from here. one last trade, for now, it's better to walk the cat/dog. LOL.

Rebound weak, may resume down.

Mid balnced profile in a bigger picture. chop city. the less trade is better for your account. mid range to reckoning with. peace!

Range trade made simple. 5 min ATR = 5.4 stop 2 ATR. let it runs.at half way move stop to breakeven. kick back with a popcorn. Peace!

Oy......see you tomorrow. very bearish now. but I am done.

Thank you for all the insight today guys. Wondering if we have a chance of making a new load tomorrow. Or right before NFP.

Descending triangle, bias is down.

Clearly bulls have failed to hold the prior range.
Friday's job report is supposed to confirm that employment is in trouble and force the Fed to cut rates . Experts say that will make the dollar tank even faster. It seems everyone expects a bad number but I have not seen where the brake point is from bad is good (lower rates) to bad is bad. In a week and a half the tech titans stop buying their own stock for earnings, so lots of variables.

Looks like a breakout for the close. That 6454 area is the one all the pundits are calling the bottom of the range. It has been probed multiple times today and stopped by sellers each time. If I was a trapped swing trader in that upper range I would want to get out before the Friday fireworks!

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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/ ... /533449387