Cobra's Market View

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The pullback overnight looks like a bull flag so bias is up.

ES daily.

Another step up, through the EMA 20.

Eyes on the top, but it is still well above, like Everest.

ES hourly.

Moving up from level to level, Darvas boxes.

ES 5 minutes.

Sideways action.

A little roller coaster.

Gap play, Turkey or no turkey.

It's a morning hourly filled black bar

ES 5 minutes.

Aside from the first 30 minutes, a whole lot of chop now.

I say: If the daytrade market is not cooperating, I ain't playing. Ha ha.

I do have some swing trades though.

Taking a break.

Daily trend following setup: entering sell the rip zone.

This bull shall have legs.

Gamma Labs posted that Dealer Gamma is positive so they are buying the dips. Others have noted hedge funds have been big buyers of tech the last couple of days.

The pullback probably will be bought which is what "this bull shall have legs" means.

Algos channel. let see if the top is possible here. The RED line.

Gamma Labs updated. New Call Wall at 7,000 SPX

Just for fun a Gann Fan

Could be a double top. Waiting to see if what I am guessing to be a support zone gets a bounce for a higher high or confirms we are done for today.

Fake double top (red arrows) 3 days in a row? Maybe today would be different because of the 3rd time's charm?

Well that was interesting. Got close to the session VWAP and bang, time per tick bar goes way down ATR goes way up and some very high relative volume buying circles. Guess we know where the buy orders were lurking.

As Gamma Labs said in this environment of positive Gamma dealers buy dips and sell rally's flattening volatility.

This is 2 hour regular hours ES. The pro's are calling for a three part correction and now moving up into the significant wave 5 of wave 5 . But that assumes that Santa will get us new all time highs before the Holidays. I am looking for confirmation next week to make sure the Grinch doesn't show up. The call wall at 7,000 is a concern. But as we all know bull markets climb a wall of worries.