Cobra's Market View

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Widest red bar after being down awhile could mean exhaustion so probably a rebound upon open then we'll see.

Gap down a little below the yesterday's low probably just a range day.

ES daily. Testing down beneath the EMA 20.

SPY 15. Down from the previous close. Pbar at 0800am, like a tracer bullet.

SPY 1 min. Racing up to fill? Dunno about that, but we will see.

Dow 30. A sea of red.

ES 1 minute. Don't jump in too early. Lots of head fakes. Too late? Just as bad.

Back later ...

It's a morning hourly hollow red

CYBERSECURITY UPDATE, daily

Nomura's Charlie McElligott Nailed It
And now he says:
https://www.zerohedge.com/markets/nomur ... to+zero%29

Double Bottom???

Break the blue line with strong bear bar in the next couple of bars then it's a downtrend day. Rarely a downtrend day down from open to close anyway, so doesn't matter downtrend day or not actually.

No follow thru yet....

We all need a line to watch!! LOL!

Bear trap?

Getting the bounce, just need follow thru....

Got back to the line, now we need to see what happens for a trade.......

GS last week: “… the flood of newly-minted retail traders seen over the past year and a half has transformed retail trading activity from a contrarian to a leading indicator.

zh: In fact, the newfound dominance of retail traders has taken an old market dynamic and flipped it on its head: in contemporary markets, it's retail traders who generate buzz in a stock by driving it higher, drawing the attention of institutional traders, before the "dumb" money rotates out, leaving the "smart" money holding the bag. The dynamic has been perhaps the most pronounced with GME.

Anecdote: One institution is “looking to hire a longtime "WallStreetBets" vet instead of an institutional trader. The firm's job posting asked that applicants have "at least 1,000 of Reddit's goodwill karma points." The firm is offering a salary of $200K plus bonuses (along with a place in a Burning Man camp).

Energy was showing a little life and then ran into the trendline/MA lines, which put a stop to that!

SPX is now down roughly -2.1% from its recent high
Compare that with the approximately -4.3% pullback last month
Daily