12/01/2022 Live Update

[Cobra]

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The overnight action can be seen as a bull flag so breakout is more likely.

[JFR]

ES daily.

Pushing for a new high on this trend up. The bulls continue to amaze. Lots of money looking for a place to park.

[JFR]

ES 60 minutes. Big up day yesterday. Pushing through a key resistance level.

[JFR]

https://www.cnn.com/business/live-news/ ... index.html

US stocks exploded higher Wednesday. The Dow is now more than 20% above its 52-week low, which puts it in a new bull market. Federal Reserve chair Jerome Powell strongly suggested that the central bank is ready to slow its pace of interest rate hikes. Powell noted that the Fed is still concerned about inflation but that it also does not want to jeopardize the health of the labor market and broader economy either.

Wednesday's rally helped push the markets to their second straight month of solid returns. The three major indexes wrapped up November with gains between 4% and 6%.

The Dow soared more than 735 points, or 2.2%

The S&P 500 rose 3.1%.

The Nasdaq Composite shot up 4.4%.

Moving this over from yesterday's recap page.

[BullBear52x]

Bears almost made it down but the power that be said NOT. deep will be bought until then...

[BullBear52x]

For now, think auction.

[JFR]

ES and NYSE Tick, 1 minute.

Dangerous waters just after the bell. Many stop outs. Safer just before the bell.

[BullBear52x]

/ES 4030 is the key support level. very over bought as of now, buyers beware!

[BullBear52x]

Individual investors not all that exciting. what do they know?

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2022/12 ... ay-update/

[Al_Dente]

note DG reported this morning

[BullBear52x]

Contrarian traders, market seems to fake out both bulls and bears on the counter trend level. ie: when buying near lower bands or selling near upper bands. (2std ).
see current situation When $TRIN >1 and $CPC>1 above the mid bands, not as much fun to short the market and hold but to use this signals as: "will it confirm the move the next day?" As of now, the search for the top in current trend continues.

[JFR]

ES 5 minutes. Heading south. 4075 is a key level. And by the time I prepare this post, it is already there. And pushing through.

[JFR]

ES 5 minutes. Finding some support at 4069, for the time being.

It's a wild one, today.

[JFR]

ES 5 minutes.

Dive. Dive. Dive. Beware the fakeouts.

[BullBear52x]

I will reverse to buy at 4030 /ES, come2papa.

[BullBear52x]

ES 5 minutes. Heading south. 4075 is a key level. And by the time I prepare this post, it is already there. And pushing through.

2022-12-01_07-12-23.png

Watch my key level at 4030

[BullBear52x]

Buy the dips setup intraday, Until this buy fail will bears got a say.

[JFR]

ES 5 minutes. Heading south. 4075 is a key level. And by the time I prepare this post, it is already there. And pushing through.

The attachment 2022-12-01_07-12-23.png is no longer available

Watch my key level at 4030

ES 60 minutes. It has to get through 4040 first. Crazy day.

[Mr. BachNut]

The NYMO cycle remains UP, but the cycle high appears to be in.
NYMO continues to make a pattern of lower highs and lower lows, but has also remained solidly positive.
The model remains UP until we start getting negative NYMO closes.

Price found resistance this morning at the declining tops line.
Time will tell if this holds as resistance.
We have popped above the 200 MA. So, begins a test.
Sustained trade above the average after a retest would qualify as a passing grade.
There is an open gap above at SPX 4110.41. It is close enough to act as a magnet in the days ahead.

Bulls have firmly departed from the middle keltner band zone and are making an attempt to reach the upper keltner, which is rising away from them.
Until the upper keltner gets tagged, I maintain a bearish bias (i.e. bear market rally) 200 MAs and declining top line breaks notwithstanding.

I am flat. My profit stop on an SPX long was hit. Looks like I got shook out.
I had an R2K short go on yesterday that was promptly closed at a loss on the Powell rally.
I have no open setups here at the moment.