06/16/2023 Live Update

[Cobra]

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Testing the previous high, I don't think it'd be a double top here, more likely it's a cup with handle therefore bias is up.

[JFR]

ES daily.

Hella good June for the bulls.

Knocking on the door of another breakout.

And climbing the wall of worry, also, as buyers can jump ship at any time, leading to profit taking and short selling.

[JFR]

ES 60 minutes.

A couple of good moves up.

Now jockeying for position, between resistance and support.

[JFR]

Source:

https://themarketswatch.com/financial/t ... gI_r_D_BwE

Growth stocks. High Price/Earnings. Volatility. Feel like gambling?

Do you like any of these?

MSFT is the only one with a P/E under 40, at 37.73.

MSFT very nice chart.

Not my opinion below.

Top 8 Growth Stocks – June 2023

Here are 8 growth stocks for you to buy in June 2023 set to leverage emerging industry trends, such as AI, the lithium “gold” rush, blockbuster EV sales, and ESG.

Arbor Metals Corp.
Tesla Inc.
Kiplin Metals Inc.
Microsoft
NVIDIA
Shopify
Intuitive Surgical
MercadoLibre

Growth stocks like these are ideal for investors seeking short-term gains and long-term resilience. These companies are primed to withstand future market fluctuations through innovation, market opportunities, embedding in recession-resistant sectors, and committing to diversifying their portfolios.

[JFR]

NYSE Tick and ES 1 minute.

We've got some chop.

The bears are awake also.

Taking a break ...

[Cobra]

Members only update at 10:07 am
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[Cobra]

It's a morning hourly filled black bar

[JFR]

SPY 5 minutes.

Back down to yesterday's close, which offered support previously.

[merryme]

Old chart w/ pitchfork from late March...."The market has long punished pessimism..." Quote from THE BEHAVOIARAL INVESTOR by Daniel Crosby. (Worth reading.) GO COBRA.

[Cobra]

Members only update at 12:06 pm
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[JFR]

DIA IWM QQQ SPY daily.

All systems Go on DIA QQQ and SPY. Daytrades and scalps, not swing trades, for this trader.

IWM is facing resistance.

[JFR]

ES 5 minutes.

Range day. Not really going anywhere.

Have a good afternoon.

[Cobra]

It's the 3rd touch of the blue line and usually the more touch the less likely the line would hold so breakdown is a little more likely now.

[Cobra]

Members only update at 3:28 pm
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[jaguar6992]

Hope everyone enjoys the long weekend. See you Tuesday.

[Trades w 2 Cats]

Off the road with shore power and internet for next two weeks. Looks like it will be interesting trading. Waiting for the major pullback. Some are calling this a C wave up from the October lows. This market has thrown several irregular C waves at lower degree. Meaning it peaked above the start of the prior wave 1 down. So they are saying a new all time high is nothing if this is a C. The drop will only be determined after we test those October lows.

So we need a major pullback that turns into a big really ugly 2008 style 3 down, or we need to see a mild pullback that then confirms we are in a new bull market with higher all time highs this summer.

Need to get through VIX expiry next week and then we will see if six tech stocks can continue to save the market.

[Cobra]

Members only update at 3:54 pm
http://www.cobrasmarketview.com/2023/06 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

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/ ... /533449377