03/09/2021 Live Update

[Cobra]

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I don't know what pattern it is now. Seems once again not to trust bear works. Gap up within the yesterday's range so probably it's just a range day.

[JFR]

ES daily. Inside bar, and a doji, so far. Quiet day coming? Ya never know for sure. Just beneath a strong support/resistance level.

[JFR]

SPY 15 minutes. Extended hours. A pbar shows up once again.

[JFR]

Dow 30. About even between the greens and the reds. CRM and AAPL leading. GS and AXP trailing.

[JFR]

SPY 1 minute. Gap up and holding. No fireworks as of yet. Taking a break, after a lot of work pre-opening.

[cletus]

NASDAQ Price Analysis

Prior year vs 2000 dot com peak

Prior year vs 2009 bottom

So clearly the NASDAQ is following the 2009 bottom more closely, but in neither case is this near-term bullish. Both saw sharp April/May corrections, so maybe a bounce back up and some deeper selling in the next month or two.

[Cobra]

Members only update at 10:03 am
http://www.cobrasmarketview.com/2021/03 ... ay-update/

[Cobra]

Feels like an uptrend day, strong one. Bears be careful.

[Cobra]

Volume surge, long up shadow, so might be a pullback here first which probably is the bear's only chance to make a range day today. Let's see.

[BullBear52x]

Mad market, what did you guys do to it?

[BullBear52x]

26 handles turn around for bears to have a chance now. buy dips unless it fails mid day, for now market just want to be up.

[BullBear52x]

Overbought and entering sell the rip zone on swing setup. wait to see the buy dip intraday setup fail first, market is too strong right now.

[BullBear52x]

Daily candle is clear breakout. unless for some reason the big sell off and got us back inside the bottom box to turn this thing around which I don't see it the way it is right now, buy dip first will see from there.

[Al_Dente]

Rob Hanna runs the data on Tom McClellan's report that big spikes in QQQ volume are often a bottoming sign for QQQ.
https://quantifiableedges.com/large-spi ... qq-volume/

[Al_Dente]

INFLATION:
Even the “U.S. consumers said they expect to spend substantially more on rent, gas and other essentials over the next year… “
[survey released Monday, 3/8, by the Federal Reserve Bank of New York]
https://www.reuters.com/article/usa-fed ... SW1N2KV02Y

[Cobra]

Breakout to the new day high with good looking bull bar in the next couple of bars (likely) then it's the 2nd confirmation of an uptrend day.

[BullBear52x]

On Volume profile we got capital B, 30 handle apart from each high volume node. could be fun to trade today if market decided to jump back and forth. 30 handles is possible trading range today.

[BullBear52x]

Weak sauce, see RSI. If pull back from here the retest to top will be challenged, M setup for counter trend, not a 3 push up. Guess who introduce me to 3 push up? I learn it here from master Cobra. with the combination of RSI, there is a tell of how strong the run is, this one is on the weaker side.

[Cobra]

Not a good follow through after breakout to the new day high after 11 am but so far it's still an uptrend day unless the current pullback can go further which I kind doubt.

[BullBear52x]

On 5 min chart (ES) this is 3 push up on my book, hmm there is hope for bears