Cobra's Market View

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This bull shall have legs.

ES daily.

Bounce up off the EMA 20.

Heading back to the top, after the pullback.

ES hourly.

From S2, through S1, through the Pivot,

through R1, all the way to R2.

And there it pauses to catch its breath.

The bulls should be happy.

ES 5 minutes.

Choppy move up, climbing the wall of worry.

Pullback from 6736.

Bounce up off 6724.

Famed golfer Arnold Palmer told the story about a clever Scottish caddie who did not want to make a mistake in reading the green for the legendary Palmer.

When asked about the upcoming putt the caddie said it was "mostly straight."

Well for this trader the market looks to be mostly bullish.

gap play. go or no go?

Same playbook, different day. there is a lot of support below, let see how this gap plays out.

Seems like someone ain’t messin around. Head on a swivel.

Riding fence lines.

SPY 5 minutes.

Gap fill?

The next few bars will be key.

Descending triangle, breakdown is more likely (while I'm typing it's already broken).

What's up, Doc?

Gold.

Thar's gold in them thar hills.

Why is gold up? Chaos. There is much chaos in the world. More than ever, methinks.

Slow chart with volume profile shows the potential for that gap close. At the least I would expect to see the profile filled in.

Note worthy. There’s a small micro gap from Friday that still is not filled.

This dip will be bought, first thing first, until then.....

New Box, make or break.....Peace!

Walt Deemer has posted on X that the SPY gap open has been filled.

With the gap fill, if anybody missed the overnight action looks like the instant replay is running.

Well VPOC resistance has stopped the advance. Guess bulls need to recruit via a pullback.