Cobra's Market View

SPY daily.

Day 8 in this trading range.

All time high in this range.

Trendline up.

EMAs up.

Sto and MACD turning down at the top.

Volume low-average.

The longer it takes, with no breakout, the higher the odds of a pullback.

But Christmas is coming. Renewed hopes?

SPY hourly.

10 days in a wide trading range. No progress.

Maybe a little bit bearish, with the lower high.

ES 60 minutes.

Down. Down. Big ups yesterday.

No Man's Land.

ES 60 minutes.

Big up day.

But over the last few days, no progress.

ES 60 minutes.

Down beneath R1.

Down beneath the Pivot.

Down beneath S1.

Aiiyahh.

ES 5 minutes.

Down and down. Guided by the EMA 20, and then falling off the zipline.

ES daily.

Aiiyahh. Testing down beneath key, strong support.

Still mostly positive, but the bears are having their say.

Uncertainty in the world. Syria. Middle East. Polarization within countries: France. USA.

But life goes on, for the survivors. Ha ha.

ES daily.

The new high on the daily is at risk.

Price is sitting on a major support level.

ES 5 minutes.

Down and down.

Guided by the EMA 20.

The bears are in control today.

SPY daily. Day 3 in a trading range at the top. Indicators are good. MACD, Sto, EMAs, Bollinger. Any concerns? Almost always. Two nice breakouts, started in November. But the bears are right there, watching for weakness. Almost nothing coming up on my scans, which demand a lot.. No prediction, but I...

ES 5 minutes.

A couple of breakouts.

I don't think it means that much yet. Scottie is trying to fire up the warp engine. Ha ha.

Lots of bearish resistance hiding in the woods at this time.

Back later ...

ES 5 minutes.

Some of the bullish elephants (Kevin Haggerty's term for institutions) are ready for action.

But I expect some bearish elephants are also ready.

First move to the bulls.

ES 60 minutes.

Sideways action, with some dramatic impulse moves.

Strong move up Wednesday, but since then it is No Man's Land.

ES daily.

The breakout continues to hold, "steady as she goes."

Well above the EMA 20 and the trendline, which are drawing closer.

ES 5 minutes.

Chop, chop, chop.

ES 60 minutes.

After some good ups, today is making no progress.

ES daily.

The breakout is holding so far.

Well above the EMA 20 and the trendline.

SPY daily.

Gap up. No fill, as of now.

Chopping along.

ES 5 minutes.

4 hours of a choppy mess.

Trying to get a perch on the Pivot.

Back later ...

ES 60 minutes.

Pullback down to the Pivot, where it finds some support.