Cobra's Market View

ES 5 minutes.

All around the Pivot.

Riding the EMA 20.

Down from its high of this morning.

ES 60 minutes.

Helluva move up on Wednesday.

Pulling back a bit today.

Normal as the endless battle between the bulls and bears goes on.

Well above the EMA 20.

ES daily.

Higher high than the August high.

Stuck at the July high.

Lots of sellers stopping any attempt at a breakout.

ES 5 minutes.

And now we are back to chop, always dangerous.

Knocking on the ceiling of resistance again, trying for a breakout.

ES 60 minutes.

Helluva move up starting overnight.

ES daily.

Yowsuh. Right back to the high of July.

Superseding the high of August.

The candle is a marubozu, long and strong.

ES 5 minutes.

Major chop. Small craft stay at the dockside.

We will see which way the market goes after the excitement passes.

ES 60 minutes. Ride 'em, Cowboy. Zip. Zip. Zip. Up. Down. Smaller up. The market will do what the majority want it to do. That is usually up, with many pullbacks of different strengths along the way. Strong businesses, not houses of cards, lead to stocks moving up. And this trader sees many, many st...

ES daily.

At the high of August.

Two dojis in a row. Indecision.

Still is bullish, imo.

But the longer it fails to break through, the bears gain strength.

ES 5 minutes.

Nice move up since about midnight on the west coast.

Now in a range.

Needs a breakout.

ES 60 minutes. Third push up. Trading range coming? I would be surprised if it just kept going up at this point. I think it would need a range breakout. Pretty good move up since last Thursday. Up through S3, S2, S1, the Pivot and R1. All the way to R2, where it has paused. 2024-09-17_06-34-47.png

ES daily. Back up to the level of August. Not quite back up to the level of July. But very good for the bulls. Possibilities: * Trading range as the bulls and bears show their determination. * Breakout. Could happen. * Breakdown out of a range? Could happen. Favors the bulls at this time, after the ...

ES 5 minutes.

Chop. Chop. And more chop.

ES 60 minutes.

Very mixed readings.

Strong move up on Wednesday.

Higher levels on Thursday and Friday.

Trading range today.

At the bottom of the range.

ES daily.

A doji. Neither bullish, nor bearish.

Pretty good move up towards previous highs.

Catching its breath.

Didn't shoot right to the top.

The bears are still here, ready to take it down.

High of Friday 563.03 is very near to the .high of 565.16 on July 16. Also very close to the all-time high of 564.20 on August 30. Is that enough to satisfy the bulls? Is that enough to trigger the bears? Could be. But no collapse. No bear market. No huge pullback, not even to the level of August. H...

ES 5 minutes.

Up on the day.

But very choppy. Dangerous.

ES 60 minutes.

Up Wednesday and Thursday.

Up somewhat today.

The stock indexes are all up.

ES daily.

Another up day.

Higher open, high, low and close.

Above the EMA 20.

Getting very close to the previous high of 5668 in August.

ES 5 minutes.

Breakout.

Have a good afternoon.