Cobra's Market View

For 3 trading days in a row bulls managed to close above the blue line making the breakout more and more solid day by day, bears need act as soon as possible to make it a false breakout. FOMC on Wednesday so I doubt bears would do anything before.

Another day to prove that the initial breakout/breakdown likely is false.
viewtopic.php?f=2&t=4643&p=295273#p295273

Called the low was in right.
viewtopic.php?f=2&t=4643&p=295277#p295277

DISCLAIMER:

The trading log above is meant for myself only which main purpose is to help improving my market sense.

• My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.

• Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.

• Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.

SPY fifteen minutes. Helluva finish for the bulls.