Cobra's Market View

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Double bottom or not, wait and see. Seems IB futures data is wrong, will have to use FinViz.

ES daily.

At the bottom of a range.

Tested low and it did not stay down.

ES hourly.

Sideways in a tight trading range.

Pivot above and S1 below.

ES 5 minutes.

Roller coaster.

Some clean moves.

Two crashed bars, I don't see it will hold.

It wants to hold up today? new swing low, it is bearish bias. there's green shoots

Maybe it's a double bottom (green arrows).

This bull shall have legs. Cannot believe the pullback was over, everything is perfect now.

Intraday: new swing low, so.....bulls are running into resistance zone now.

You know the routine, swing setup: Rip will be sold. first thing first.

The pullback probably will be bought, EMA20 now is the most likely place.

Well looking like a relatively quiet day considering all the options expiration.

Swing setup: same routine, new box, make or break. It's Friday, will the bears having the balls into the weekend? Peace!

Close up looking like we are in a 50 point range for now, but need to test the upper band.

Well that was wrong. 6650 area really looked like a possible top, but it isn't.

Wait to see if it turns into the classic breakout, pullback and go pattern.

The pullback probably will be bought again and EMA20 now is the likely place.

Well I no longer feel like an idiot for thinking 6650 was significant.

I cheated on my wave count by starting at the Globex low on a regular hours chart. Still the point is we need a little ABC pull back and then on Monday or so it is off to the races. Seasonality is good, the 5 % pullback in the rear view mirror so lets move to 7,000, cause we have been good all year and Santa will deliver. Or not!

Have a good weekend.