Cobra's Market View

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Two legged down, maybe rebound? Roller coaster show at 2 pm so don't expect big moves before that.

ES daily.

Slight pause as it has reached a new all-time high.

Blue skies above.

ES hourly.

Day 2 of a pullback on the 60 minute.

Does it want to go lower?

At a strong support level.

Testing the level.

ES 5 minutes.

Sideways action.

One very large spike down to 6654.

Just noticed on Cheddar flow a big put buyer today going into FOMC. Yesterday a huge call buyer. Going to be a wild ride!

Generally double bottom is required for a solid bottom. Today is special though as we'll have a roller coaster show at 2 pm

The show. The initial reaction usually is the true direction so the market wants to go up?

This bear shall have legs.

Well, probably the low was in. Bear may still have another leg but it should be just a higher low. The roller coaster show last longer than usual today.

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