05/23/2022 Live Update

[Cobra]

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Maybe it's a diamond as a continuation pattern so bias is up.

[JFR]

ES daily. Up from the close, and from support. A small bull candle so far.

[JFR]

ES 60 minutes. In a range for a number of hours. Between the Pivot and R1. Between resistance and the EMA 20.

[JFR]

SPY 15. Drifting along. Resistance just overhead.

[JFR]

ES 5 minute. Moving from level to level. In a range for about 90 minutes. Fades. Scalping has been OK as the market is relatively calm. Always dangerous.

Back later ...

[te_fern]

Excellent discussion on the weekend update with charts and ideas/comments about bear market timing and levels. Check it out!

[Al_Dente]

According to RELATIVE STRENGTH: Money has been rotating into energy stocks (that's old news), materials and health care.
Daily

[Cobra]

Members only update at 10:12 am
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

The breakout could mean it's an uptrend day.

[tkvprasad]

@Mark Ungewitter posted chart this in twitter, I am wondering if Cobra (Please) can can help how to set this in stockcharts, and read this chart to understand the price momentum change using ?

This is what Mark said -

All bear markets come to an end, but there’s no telling how deep they will run. Fortunately, you don’t need to call a bottom, as price momentum typically confirms the next durable advance.

[Cobra]

Members only update at 12:15 pm
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

The very first touch of EMA20 in 2+ hours usually is buy, but sometimes it's only good for a scalp though.

[merryme]

TO: tkvprasad

Everything you need to know about setting up charts is in the chart school:
https://school.stockcharts.com/doku.php ... lators_ppo

And, stockcharts has a tech support that you could contact: https://support.stockcharts.com/doku.php

Finally, COBRA has a PPO chart for you to follow: https://stockcharts.com/public/1684859/ ... /740281064

[ccash04]

C&H? Measured move to 400.50 on SPY?

[Cobra]

Don't know whether it'd be a double top here or not, but if bulls can touch the blue line above then a breakout would be likely.

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

Members only update at 3:53 pm
http://www.cobrasmarketview.com/2022/05 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374