Cobra's Market View

SPY daily. The high of March 28, $525, has been exceeded. Now in a range, with $525 at the bottom of that range. The strong move up started with a hammer on May 2. Key time. The bulls are trying to do some heavy lifting. But the bears are tugging the other way. The EMAs 20 50 and 100 are all up, and...

ES 5 minutes.

Up into higher range/box.

One failed attempt to break out.

Then a bounce up off the trendline, without dropping to the bottom of the range.

The bulls are hoping for a good day. We will see.

ES 60 minutes.

Down since Thursday.

Riding the trendline, up a bit.

Squeezed from above by the EMA 20.

Needs a breakout.

ES daily.

Pullback to the trendline, just above the EMA 20.

Not good for the bulls.

Twice failing to break out.

But they do not give up easily, or at all.

ES 5 minutes.

Finding some support at the Pivot.

Back later ...

ES 5 minutes.

Very strong bear bar to start the day at the open.

ES 60 minutes.

Major warfare going on.

Bears big push down late yesterday.

Bulls big push up today.

Then the bears push it down hard again today.

ES daily.

Poking its nose above 5333.

Uncertain breakout at this time. A test.

But the bulls are trying some heavy lifting.

Way above the EMA 20 and the trendline.

A handful of dojis in a row --> indecision.

Indexes. Futures and ETFs.

Much of the market is down.

Not cooperating with me, as I was prepared to trade some longs today. Ha ha.

ES 5 minutes.

Fairly strong move down, after a quiet, range-bound overnight.

ES 60 minutes.

Boxes. From box to box.

Uh oh. The last move was down.

Getting near to S1. Eyes on it.

ES daily.

5325.75. Down a bit from 5333.00.

Birds on a wire. Somewhat precarious position.

But way above the EMA 20 and the trendline.

Bulls seem to be asleep.

ANF Abercrombie and Fitch. Apparel. Founded in 1892. HQ in Albany, OH. Most recent posting on here December 12, 2023. Trying for a breakout. Not recommending. Abercrombie & Fitch Co. engages in the retail of apparel, personal care products, and accessories. The firm operates through following ge...

ES 60 minutes.

Boxes. Play them as fades.

Trends are more exciting, however, and the market is in No Man's Land.

ES daily.

Knocking on the door of a breakout.

Keep on knocking without a jailbreak and it will give up and head back down South, towards support.

SPY daily. Nice move up in May, pushing the outside of the Bollinger. Two day pause now. EMAs 20 50 100 all up and in the correct order. MACD rising. Histogram sliding down. All above zero. Sto flatlined at the top. From all this, what now? No prediction, since it can go up or down. But, look to see...

Dow 30.

That is about the quietest board ever.

About even on the greens and the reds.

Pct Change is tiny, maxed out at just over 1% up or down. CAT up. INTC down.

ES 5 minutes.

Chop. Chop. And more chop.

Fades are possible.

ES 60 minutes.

From box to box.

And now in a very tight range, just beneath the Pivot.

ES daily.

Pause at the top, so far.

Breakout or pullback next; we don't know yet.

2nd big hit at the top.

Down a bit from 5330.