Cobra's Market View

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Double top (red arrows) or not, wait and see.

Breakout from prior serious congestion.

Looks like the easy part is over.

The pullback probably will be bought possibly around the EMA20 below.

Swing setup: new sell new box. make or break.

ntraday: new siwng high it is bullish bias. ATH gap filled. transitional. bulls need to push up HH to regain the confindence. bears no real reversal until 38.2% is taken out.

No follow through to the upside. Treading water.

Got above congestion box and then back down. Maybe we need some sort of news to move on up.

ES 5 minutes.

Nice move up. Good move down. Playable.

My cash 15 minute 60 minute chart is sure looking like we are going into yet another consolidation zone. I am concerned that such a large part of the last 100 points was very low volume activity in the night. Tradition says that large gap up will need to fill before we can make serious progress into new highs. Time will tell.

Testing the day high, could be a pullback here first after which we'll see as it could be a range day which if indeed then the pullback could go all the way to the 11:05 AM low.

This is a pivot point to test the buyers royalty. bull's FAFO. Peace!

Profile note: VPOC at ATH is sitting at 6985.

Stalling at 6990, its Deja Vue all over again.

Seriously bulls need to step it up. If we don't blast on through and instead form a double top all my Elliot Wave stuff is trash. We are supposed to be riding a third wave to new highs not fooling around at the wave one level.

Consolidation which usually means continuation so bias still is up.

Well, guess that's it for today, here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

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/ ... /533449381