Cobra's Market View

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to [email protected].

===============================================================================================================================

Lots of long lower shadows so bulls are trying to rebound, 50% chances.

SPY 15 minutes.

3 pushes down.

But the bulls will show up, to some extent.

They will be getting a bit cautious.

All eyes at the last line of defense level. gap plays intraday.

Gap plays, new swing low, bearish bias. same playbook different day.

SPY 5 minutes.

The bulls are awake.

Up to the EMA 50.

Powers through the EMA 20, with strong bull candles.

It's a morning hourly hollow red

SPY 5 minutes.

Not so fast, Bulls.

Hits strong resistance at the EMA 50.

Down to the EMA 20.

Range day? Time for a nap.

Bulls need to see the algos channel to buy, don't catch a falling knife.

Testing day high, I think breakout is more likely which if indeed then probably means the low was in for today.

Looking good for the bottom shoppers. there is a lot of overhead resistances.

Range? HL took the bullish call moving forward, until new LL shows up. for now, patience!

Fearful market, too weak on the internals to give da bulls a buying power, Oy.....

The RED bars continue, keep it simple for daily trend following. keep your powder dry for tomorrow. Peace!

Bonus chart: falling knife catcher zone for the dippers, sell for the fund managers.

Must be someone said someone said something. Probably bulls are in control now.

As Cobra said, someone must have said something. What ever it was I nominate for trade of the day if you caught it.

Lets see how my little parlor trick does tomorrow. Since the volume today is hugging the current year low I have zero clue which way we move. Monday if they don't bid it up overnight it could get really ugly. We will see what happens.