Cobra's Market View

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Not sure whether the low was in or not, the chart pattern looks missing a revisit of the previous low for a solid bottom.

It's a morning hourly filled black bar.

Break the blue line should be more likely. Don't think it'd be a double top here.

OK, probably it's a range day then, assume the range low is the day low so should be a rebound soon.

Well, let's see whether the yesterday's low could stop the bleeding. Either way, this bear shall have legs.

Now let's see whether bulls can make a double bottom. My guess is to break the blue line below then rebound - a classical break then reversal and this is why the green arrow is below the blue line, it's intentional.

Looks like the Market took a dump. Maybe there’s still some time for a Happy Halloween?

So much for volatility. That is a very tight channel, zero fun for my kind of scalping.

Doesn't help that the Fed hawks are all in front of microphones. Added problem Open AI going for an IPO will reveal exactly how profitable they are, or not!

Found this on X. Going to have it made into a stone tablet to sit next to my trading station.

Looks like the classic break out pull back and go move. Could be a trend change but too soon to tell in today's action.

I should add 6875 has stopped two up moves so far and we are close to the third test.

Just as I expected - classical breakdown then reversal up. Now testing resistance, could be a pullback or consolidation here, which likely would be bought later, so probably the low was in for today.

I had not looked at yesterday. Looking like we get a red doji ish bar for today but it is engulfing. Also VPOC steeping down.
So Mag 7 done with earnings except NVIDIA, Fed rate cut in, trade deal moving forward with China, How come we aren't at new all time highs?

The pullback indeed was bought. This bull shall have legs.

Well, guess that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

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/ ... /533449377

The selling before the close wasn't expected which means bulls are not comfortable holding positions through the weekend therefore maybe a bad sign.

SPY 5 minutes.

A roller coaster. Going nowhere.

Some scalps available.