05/26/2022 Live Update

[Cobra]

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Maybe it's a kind of H&S bottom breakout? Because it consolidated before the breakout so likely the breakout is for real.

[JFR]

I will be away from the desktop for a few days. Some vacation time. If BB52x can do it, so can I. Ha ha. It was planned anyway, actually. Gone fishing. Or something like that.

''Let's be careful out there.'' Later ...

[koolblue]

[koolblue]

[BullBear52x]

I will be away from the desktop for a few days. Some vacation time. If BB52x can do it, so can I. Ha ha. It was planned anyway, actually. Gone fishing. Or something like that.

''Let's be careful out there.'' Later ...

2022-05-26_03-40-00.png

Good luck, catch big ones!

[BullBear52x]

Yesterday we got negative price action, breakout will it holds?

[BullBear52x]

sell this rips.

[BullBear52x]

Rising wedge.

[JFR]

I will be away from the desktop for a few days. Some vacation time. If BB52x can do it, so can I. Ha ha. It was planned anyway, actually. Gone fishing. Or something like that.

''Let's be careful out there.'' Later ...

2022-05-26_03-40-00.png

Good luck, catch big ones!

Thanks, I will try.

Later ...

[Cobra]

I will be away from the desktop for a few days. Some vacation time. If BB52x can do it, so can I. Ha ha. It was planned anyway, actually. Gone fishing. Or something like that.

''Let's be careful out there.'' Later ...

2022-05-26_03-40-00.png

Go fishing? Are you a trader? Yes? The how come you don't go hunting bears or raising bears or herd cows?

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

Good start, feel like an uptrend day.

[JFR]

I will be away from the desktop for a few days. Some vacation time. If BB52x can do it, so can I. Ha ha. It was planned anyway, actually. Gone fishing. Or something like that.

''Let's be careful out there.'' Later ...

2022-05-26_03-40-00.png

Go fishing? Are you a trader? Yes? The how come you don't go hunting bears or raising bears or herd cows?

Ha Ha. I am a hunter, like the cougar on the prowl. I hunt for value stocks, much safer than hunting bears. Ha ha.

[BullBear52x]

Top and Bottom construction is a process. key short term level to watch.

[Mr. BachNut]

An overdue BachNut...

The NYMO cycle is UP.
In fact, we are in the upper Turn Zone as I write.
This does not offer as much edge as visits to the lower turn zone, but it does tend to signal a transition in the market.
The transition may be a rally kickoff, an up trend going into consolidation, or a reversal. You just have to pay attention and see what you get.
Given that price is breaking out of a well established down channel today, rally kickoff may be the ticket this time.
If so, NYMO will stay elevated in the period ahead, perhaps with a corrective trip or two to the zero line. We shall see.

Pricewise, the recent tag of the lower keltner band confirms a continuing bear bias.
That is to say rallies should be viewed as bear market rallies until proven otherwise.
Given this morning's channel breakout, a trip to the middle keltner would not surprise.
One can also dream about trips higher, but who knows what will happen.
We have seven open gaps above. Some of those should get closed at some point.
We opened a down gap today.

I am long SPX and R2K.

[koolblue]

[Cobra]

No sharp pullback in the next couple of bars then it's an uptrend day.

[Al_Dente]

Yesterday I said it was likely a TRAP, WRONG, today it's a soft squeeze, approaching resistance at the horizontal cyan line
60min

[Al_Dente]

SPX intraday sorted by greens
Despite inflation, Discretionary keeps getting more bids

Is it all on credit cards?

[Al_Dente]