Cobra's Market View

Somebody get a cattle prod, the herd has stopped moving!

Seriously though, this is starting to feel like a double top. Maybe the 0DTE options crowd will push it on up.

Pullback and advance or double top. Need to see more bars!

The 00 level is showing it is important to somebody. The call wall is supposedly at yesterday's high so a second touch would make sense for today or tomorrow.

I like 5202 as a target on the volume profile. It is very empty.

Failed breakout. Not calling a top yet but the two day channel is broken.

Third touch breakout

ES 06-24 (27700 Tick) 2024_05_07 (9_56_09 AM).png No idea how much higher this run goes, as it really looks like they turned on the bots to move it up. But the fancy RSI in the lower panel shows Bollinger tightening as we go through second day of overbought. Somebody on X was saying they are suspic...

0DTE options about to go away. We will see how much of today the bulls can hold on to.

Delphi.jpg The temple of Apollo at Delphi This shoulde be on every traders wall along with a statute of Fortuna the goddess of luck! Just as a reminder that human desires have not changed. Smelling vapors from a cave or consulting AI, all the same thing. My lack of Asian history means I can not nam...

Tractor beam has grabbed the market! Maybe price can escape after NY lunch!

Standard 2000 tick chart says find something else to do today!

Fancy RSI has mover into oversold. Struggling to move higher at this point.

Pretty clear where the range could be if they can't break higher.

Do not understand how anyone can choose a side. The only side is making money. The market is an auction and a liquidity system. Fed and Congress increased money by 40%. They have pulled about 5% back. Now they just said, Oh we went too far, we will slow down. Buh of that money ended up in the market...

They have more than enough time to get back up to today's high.

ES 06-24 (27700 Tick) 2024_05_03 (10_34_13 AM).png Today, for capital preservation Friday 1. Employment head line number was down, market said yea people loosing jobs now the Fed will cut. Of course 12 of the last 13 months that jobs number was lowered in next months "revision" and we are...

ISM flashing stagflation was the probable cause of the drop on the hour.
What do we have left, I think just Nvidia mid month to save the market.

Dancing on the edge of the cliff.

Pretty clear that we could hit an air pocket if the market heads south.

Volumetric chart was boring so I switched to dark with think or swim price bars AND dropped to 15 minute. I like the day's summary on the right hand side.