Cobra's Market View

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Consolidation overnight, breakout on the upside is more likely.

ES daily.

At the top, of an all-time high.

Well above key support.

'Nuff said.

ES hourly.

Excellent move up on Monday.

Flat trading range since the close.

ES 5 minutes.

Little roller coaster moves.

Including some quick scalps.

Fearful market, calm before the storm?

Turn arround Tuesday? little star atm.

Pretty clear where support is sitting.

I feel like less of a curmudgeon after seeing expert summaries of yesterday's action asking the same question about NVIDIA investing 100 billion in Open AI. As the Wendy's add used to say "Wheres the beef". So Oracle and NVIDIA have goosed the market claiming 100's of billions of investment but the only ones with cash are Meta, Alphabet and Microsoft. Will be interesting to see if this the dawn of a new age or yet another tech bubble.

My regular 2,000 tick view. It's like they turned off the lights as we drift in a tight range waiting for Jay Powell to tell us what to do.

61.8% is the captain obvious level to the world.

Swing setup: entering buy the dip zone, first thing first. how deep? RSI >30 = Triggered. stick to what works until it doesn't.

This bear shall have legs.

Grass hopers, do or die.....Peace!

The market is so one sided, Up like there's no tomorrow, so is down. Hahaha.

The rebound probably would be sold.

Well that went as you would expect, weak high spured on by one time event followed by the return to the scene of the crime.

I am still working on a swing trade set up. This is tick version of 5 minute with additional indicators from the tick version of 15 minute. Looked great on paper for today. Gotta love hindsight

Panda Master Wu put this up on X. Clearly market is fearless right now. I do not know what the correlation is with all time highs and eventual down turns. But it is another data point for the priced for perfection crowd.