05/27/2022 Live Update

[Al_Dente]

one day heat
previous days health and materials were stronger, not so much today

[Al_Dente]

zh, hours ago [note the use of the word "bullish" is rare for zh]:
Once again we saw a pickup in call positioning at strikes overhead. This is not something we’ve seen in some time
.... We consider this a bullish signal overall, we are a bit concerned this is a false breakout spurred by that lack of liquidity...The key thing to note here is that if markets break below 4000 we expect price velocity to increase.
Ironically, SpotGamma points out that as markets threaten to breakout to the upside, its arguably the best time in a while to buy puts.
The bottom line from SpotGamma: A close >=4100 likely signals a continuation of the rally into next week, and we highlight that 4300 area as our max upside line into June FOMC/OPEX (6/15). A close down <=4000 suggests continued weakness for next week, with 3700 our major low into June OPEX.

[BullBear52x]

3 up days, so far the last two end the day with negative price action, today looks the same, a close below 4127 will be a negative day again. things that makes you go Hmmm

[Cobra]

Cup with handle, breakout is more likely than double top.

[Al_Dente]

FUELING THE BULLS, early this morn:
The Fed’s favorite inflation measure, PCE, rose just 0.2% [YoY 4.9%], a sharp reduction from March’s 0.9% increase.... a sign that price increases could be slowing

[BullBear52x]

Nothing goes straight up/down, but this time is different. heard that before.

back in the day I called this "a Honey hole" special. /ES

[BullBear52x]

Cash SPX, short term multi-time frame on STI, this is how it starts, will it sticks? that's another question. but you see it coming.

[cletus]

Another fakeout rally for the bulls here. Up 3 days and still not an accumulation day (up volume vs down volume > 10). No energy here. Just a squeeze.

[merryme]

Chart on LEFT is from BullBear52. Thank you as I use it EVERYDAY.

Chart on right shows the Demand Zone from March that turned into a Supply Zone in May. That's the interesting place for me.

[Al_Dente]

Almost at target 4150 (same target I've shown for coupla days)
Overbought so it is allowed a pullback to ... GUESSING ... 4050
Next up for bulls 4300 target
Day two of ADV above 80% and that's unusual as it usually pulls back intraday
60m

[BullBear52x]

Wave 2 or 4 the most hopeful for trend change, we are at it right now, but a V-shape without a pull back is rare.

[Cobra]

Members only update at 3:35 pm
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Tuesday looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374