Cobra's Market View

Buckle up its show time!

NVIDIA's new chip will be unveiled at the regular market close today. That is 1 PM Pacific Time, by the CEO at what the media circus is calling AI Woodstock. So there will be futures trading for the bots once the text of his speech is released. If this turns out to be buy the rumor sell the news the...

So Bloomberg says that the dumpster fire that is Google's AI bot will now be bought by Apple, news released long before the New York open, and suddenly all is well. The same time I see a photo of Jim Cramer visiting NVIDIA. Personally I am wondering if this is a sign that AI is over. Ha Ha Ha

We know this is NOT an Elliot Wave Forum, so this is just for grins. But it does provide a context.

Waiting for the lower low. I guess Monday unless the big trading houses are sitting on their hands waiting for the Fed.

5220 has not lost it's hold on the market Guessing it is a big deal for options players.

On my normal 2,000 tick chart it sure does look like a channel. Which means nobody knows which way to go.

I highlighted this price zone on my slow chart. Popular place to bounce the last couple of days.

Don't you just love it when the 0DE options expire!

Just a reminder
10 year Treasury auction at 1 eastern today this is rated as a high volatility event as we see what the bond traders think of CPI and the Fed.

Three days of tightening wedge. Maybe they think the Fed will change their mind?

Well it looked like a good count, but we just aren't moving anywhere.

Ninja 8 issues are in the past. Took them too long to fix them. Hope they learned. It has been so long since I ran 7 I can't remember the differences!

-As everyone has been pointing out, today didn't count. Pulling back from oversold. After the close earnings will move this market and tomorrow before the open the jobs numbers for the month. Wave counters really are looking for that 4,950 or a bit more before the big sell off of several hundred poi...

Just to point out there are going to be plenty of opportunities for the market to move hard next week.

So buckle up buttercup!

\Not endorsing this person, simply showed up on X feed with a hey my stuff is free today. I am putting this up as it is a pretty popular count. If you have low faith in Elliott Wave mumbo jumbo read BullBears panel's of indicators, pretty much the same conclusion.

The 4,900 express is an hour and a half early today.
Waiting to see if the inflation number tomorrow morning will round trip us back to the recent highs.

Core PCE inflation number tomorrow an hour before the open. It is supposed to move the market. So my guess is a range until then.

If it gets ugly here are the levels that should slow the fall.

Not a day for price action trading!