Cobra's Market View

A number of stocks are showing up on my scans today. BAC and C have been posted on here previously, as stocks I like a lot. Two airlines, AAL and DAL, and two car companies, F and GM, show up today. Remember the joke Warren Buffett used to say about airlines : He had one guy on payroll whose only jo...

ES 5 minutes.

Huge move up just after midnight Pacific time.

Then flat and drifting up a bit.

Now on a pullback to 5820.

In a trading range. Needs a breakout.

ES 60 minutes. Up through the Pivot, R1, R2 and R3. Finding resistance at 5865. Heading back to the all-time high? Dunno. Maybe, but the bulls are crazy. Ha ha. Tariffs are still there. The economies will still suffer. The stock market is having some kind of euphoria because a pause was put on betwe...

https://www.marketwatch.com/livecoverag ... =home_lead

ES daily.

Gap up.

Well above the EMA 20 and the trendline.

All the way to 5865.

SPY daily. In a trading range for a handful of days. Above the EMAs 20 and 50. Hanging on the EMA 100. The EMA 20 is up. The EMAs 50 and 100 are flat. MACD up. Histogram declining, but above zero. The Sto is topped out. Volume is very light. The bias is up, per the trendline, but SPY is mostly in ne...

ES 5 minutes. Chop, chop and more chop. Back later ... 2025-05-09_06h41_41.png https://www.cnn.com/2025/05/09/business/trumps-uk-trade-deal-nightcap Bottom line: Very little has changed about the state of the global economy since the US-UK “deal” was announced. We still have a 22% effective tariff r...

ES 5 minutes.

Choppy.

Some scalps available earlier.

The bias is up a bit, but it is mostly neutral.

The action starts in 2 minutes.

ES 60 minutes.

Some strong pushes up.

The bias is up, but no action as of now.

ES daily.

In a trading range.

Above the EMA 20 and the trendline.

My bias is up, waiting for a move, but the market is flat.

No swing trades on ES for this trader.

The index futures and ETFs are up somewhat today so far. Trade deal between US and UK ... I do not expect a fantastically satisfying deal. I read where the 10% will stay in place. As well, trade with the UK is relatively small. Will it be a template for other deals? LOL Who knows? And any deal can b...

ES 5 minutes.

Up and down.

Beneath R1.

Moving from level to level, in little ranges.

ES 60 minutes.

A move up overnight.

Pullback to the EMA20 and R1.

ES daily.

Higher open, high, low and close.

But it is in a trading range for a handful of days.

Above the EMA 20 and the trendline.

ES 5 minutes.

Aiyahh.

Price just shot down the chart.

Powell speaks today.

Back later ...

ES 5 minutes.

Down. Level to level.

Finding support at the Pivot.

ES 60 minutes.

Down at an angle. And then a steeper angle.

Sideways for a few days.

ES daily.

Lower open. Lower close.

A doji.

Flat for a handful of candles.

The trend is still up.

ES 5 minutes.

Yes of course, the bulls come to play.

Planting a stake in the ground at 5607 as support, and a bottom.

Back up to S1.

Could be a No Man's Land kind of day. Could be, that is.

Back later ...

https://www.marketwatch.com/story/why-the-stock-rally-may-be-in-trouble-after-the-white-house-backtracked-on-tariffs-147a4ca0?mod=home_lead MarketWatch ... 2025-05-06_06h26_26.png The U.S. stock market has already priced in backtracking on the large and sweeping “liberation day” tariffs announced by...