Cobra's Market View

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

Swing setup: this rip will be sold, I posted the last message on the wrong page.

It’s Friday. Let’s see if they can close it green.

Last sell failed. Oy....

The pullback probably will be bought.

Well that didn't work. When the news hit that SCOTUS was not announcing anything on tariffs the market blasted straight up but 7,000 is still out of reach. Crazy day for sure!

Intraday: new swing high, it is bullish bias, let see, the strong sauce will keep on rising above the RED line. good MA buy so far.

New ATH for the /ES. a lot of overlaping, suggest to me it's not all that hot. it's Friday, Peace!


SPX, Sky is the limit. Overlapings, but don't short the Dull market they said.

Maybe the pullback would be bought again.

Now let's see whether bears can make a double top.

Clear new day high so generally a lower high is need for a top as illustrated by dashed black lines.

What a day. Scraping along the overnight lows then the jobs report hit and it was Goldilocks. But then those darn backroom types looked at the fine print and that every single month for last year got downward revisions. But the Supreme Court saved the market by saying nothing. The volume and the volatility dried up and then the market decided to leave a positive spin for the weekend traders. My concern is that the positive action later in the day was pretty thin When the time per tick bar is going up and the range per bar is dropping that seems to me to be a pretty clear signal of no one home.

Have a good weekend.

PS I have once again made a few changes. I added Kaufman Efficiency Ratio in box 2. I also am using it to color the outline of the bars, so I had to bring the zero lag moving average ribbon back. Interesting I have a zero lag and a regular TEMA both at 21 bars . The TEMA is the blue red line.

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