Cobra's Market View

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Lower high or not, wait and see.

Small gap up, so probably just a range day, either up or down.

SPY 15. Very quiet so far. Small bars. No chop. Very small shadows. Where did all the volatility go? Oh yeah, go away in May. We live by slogans.

If you are interested in some great references for continuing education on the stock market, check out this past weekend's blog here on Cobra's site. Some great posts to follow up on!!

ES daily. Just beneath the high. Small bar so far.

note XLE and ERX breakout above what was a potential double top
on the daily chart

Watching, the pullback maybe an opportunity...

H&S

So the dow is up 224 points while spx qqq and iwm are down and internals are weak


BUBBLE TOY:
This example is the dow in bubble view. Hover over a bubble for a chart, current today, but there may be a few minutes delay
https://finviz.com/bubbles.ashx?x=secto ... or&idx=dji

Failed here 4170 is down target.

It's a morning hourly filled black bar.

Now or never for bears.

Dow 30. A lot of ups. INTC has been struggling for a couple of weeks (have not checked the news.)

As Pasta Boss noted.

Alternatives. DBC, TLT and SPYG down. IAU, IYR, SPYV up. USO schizo up then down. UUP flattening.

PFG, PGR and PNR are doing well today. Taking a break ...

At this point, the market need no bad news to fall. it will fall on its own weight.

Made in USA. tech and Semi-conductors.

2 standard deviations is a bit over 11 points (based on rotations for the last 30 days or so), so I am calling 2 impulsive waves down so far.

Some supports here. Need decisive breakdown to make downtrend day possible. Right now still looks like a range day.