Cobra's Market View

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

This bear shall have legs.

Round trip. Now what?

SPY daily.

Gap fill.

Market is crazy. Chaotic.

The fact that we almost made it back to an all time high and now with this drop it is looking like the truncated fith wave count is going to be proven. If so we are looking for a retrace of at least a third of the gains from the last major low (April 2025) or perhaps even further back.

EMA20 now is the bear's last chance for another leg down. Not looking good for bears, maybe the low was in for today.

Close enough to call it 50% retrace

Testing the previous high, 50% chances of double top here.

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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/ ... /533449387