Cobra's Market View

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Two legged pullback overnight and it didn't go far, now maybe the rebound is on. Sometimes upon open it'll revisit the overnight low though as illustrated in the chart below.

ES daily.

The breakout is holding, so far.

Could it head south again? Of course.

But for this trader, the bias is up.

ES hourly.

One of them thar trading ranges.

Is there gold in them thar ranges? Could be.

ES 5 minutes.

Down at the midnight hour.

Slow climb up for 5 hours.

Market is overbought but who to say it's done here only 37% gain from the sky is falling moment. I am expecting a releif rally pull back before the
September contract expiry.

Ran through Urbans posts on blue sky. This one from not long ago resonated with me. This is the seasonally weak period. A dip down and then every recovery too above is still not out of the question. Anyway, it’s Friday .. keep your head on a swivel. Last Friday turned out to be quite eventful.

Intraday: inside day, anything goes. same play book, above 61.8% is leaning bullish.

ES 5 minutes.

Testing down.

Just big guys, bulls and bears, pushing each other? Yeah.

Hey, I am bullish biased. If it don't go my way, I might have to go back to sleep.

ES 5 minutes.

Aiyahh. The bears are serious.

Back later ...

Looks like another boring Friday. Have a great weekend everyone!

Look above and fails. bearish bias.

Double bottom or not, wait and see, 50% chances. I think it's a range day so should rebound here to test the day high.

SPX just thinking about breaking the barrier to 6600. I don’t think it happens today. Probably just building some consolidation to make the push through next week. It comes within a whisper of it with no success today. Anyway, have a great weekend!

Rebound to day high as expected. From around there it'll pull back since it's a range day.

Indecision market, it's Fiday. Peace!

Based on the oracle and Open AI announcements of huge capital outlays for years on top of NVIDA pledging all their cash and the next nine months projected profits for stock by backs I am thinking we are reaching Professor Minsky's ponzi finance stage.

Elliot Wave is approaching a major top, a minor degree 5th which should generate a large pullback.

Just saying the wall of worry is there to be climbed!

Long story as to why these bars. Saw a click bate system using RSI on the one hour. Moved to the 15 minute. Came up with the tick equivalent. Figured Fib levels from that. The 6550 tick chart looked the best for a swing timing system with a 2,500 tick version for fine tuning entries.

I thought the color scheme highlighted the indicators.

Consider this my weekend reading contribution. Going on a road trio next week so I will miss the Fed fireworks. Trade it well!

Testing range high and 3 push up (red arrows) so a pullback should be due here.