07/06/2021 Live Update

[Cobra]

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Accelerated about the price channel then a rising wedge, don't know how to interpret this, the bias seems up though.

Flat open so likely a range day.

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2021/07 ... ay-update/

[Cobra]

Break to a new day low with good looking bear bar then it's a downtrend day. Strong rebound here then it's a range day. Key time.

[Cobra]

Some chances it's a downtrend day but here's another test: Let's see whether it's a classical breakdown then sharp reversal up again.

[Al_Dente]

$NYDEC:$NYADV = 3.1x
$NYDNV:$NYUPV = 3.1x

[Cobra]

Breakdown in the next couple of bars with good looking bear bar then it's the 2nd confirmation of a downtrend day. A down from open to close day has been rare so even it's a downtrend day, likely there'll be a sharp rebound before the close anyway.

[Cobra]

Members only update at 12:20 pm
http://www.cobrasmarketview.com/2021/07 ... ay-update/

[Cobra]

It's the very first test of EMA20 in 2+ hours, watch for EMA short setup.

[BullBear52x]

That 's all she wrote for bears today.

[BullBear52x]

Oversold, it is better for bulls to have weak closed so we can have an up day tomorrow. see SPX/VIX ratio chart. this selling is serious, top plane under mid band, selling to continue if bulls can not move that back up in a day or two. selling pressure will continue until bulls manage to regain a strength above the mid band.

[BullBear52x]

On swing setup for cash SPX, first fail on the buy side, bears are now earning a sell rip coupon on this setup, I am expecting a higher trade up to sell rip point. only way for bulls to regain buy dip coupon is to have a new HH from here.

[BullBear52x]

As always, one day doesn't make a trend but after a long overdue negative divergence today we have a real selling pressure. if this continue tomorrow bulls will have to be more careful. Peace!

[JFR]

SPY 5. Discrete moves.

[BullBear52x]

Looks missing one more push up intraday for the sell setup. I am done today, will see what tomorrow brings, entering first sell the rip zone on Cash SPX Swing setup. Peace out!!!

[JFR]

Dow 30. Mostly red.

[JFR]

DIA, IWM, SPY down. QQQ trying to stay above water.

[JFR]

Alternatives. DBC, SPYV, USO down. TLT and UUP up.

[JFR]

Dow stocks taking a beating.

[JFR]

From Joe Duarte on StockCharts.

"Stay Long but Stay Limber." Sounds about right.

https://stockcharts.com/articles/tac/20 ... g-732.html

[Cobra]

The pullback should be bought. Bears were over for today.