Cobra's Market View

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Breakdown here would be a complex head and shoulders top. The line probably won't hold another touch. So all depend on the CPI data.

Inside day, anything goes...leaning bearish under 38.2%

Algos channel if there will be a bottom.

Maybe this bear shall have legs, i.e. need at least a double bottom for a solid bottom.

Strong rebound, good, it's the very first step toward a bottom as usually a revisit of the low is needed.

SPY 5 minutes.

Range, and then down to the EMA20, where it finds support.

A good, bullish bounce back up to the EMA50, where it finds some resistance.

ES daily.

Hanging on the key support level.

"Lookout below," as they say in submarine movies.

Moon setup

No go,

There's problem passing the 5DMA Peace!

Here's the revisit of the previous low. If it breaks the previous low decisively then we'll need another double bottom so key time.

Fun fact. My parlor trick using volume profile has been a dud today, so market must be continuing to consolidate. Or maybe you prefer coil.

Interesting news, if confirmed, that Iron Dome rocket defense has now used their new military lasers to shoot down several incoming. Supposedly at a cost of $3.50 per shot. If true then this will upend some defense stocks.

This is day to of waiting for the market to reverse that bounce. Decent down channel, but has a ways to go before it is proven.

SPY down.

USO up. Mines in the Strait of Hormuz, sooner or later probably.


SPy down. Oil up.

Chart for the road: how over sold are we? Bearish and oversold we are. crash or no crash?

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