07/25/2024 Live Update

[Cobra]

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Maybe a rebound here first which likely would be sold.

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2024/07 ... ay-update/

[icman]

Any comments on what's happening?

[Cobra]

This bull shall have legs. Probably the low was in for today.

[Cobra]

Likely it's an uptrend day.

[Trades w 2 Cats]

Well the fibs say we could be done with the bounce. Will know soon enough.

[Cobra]

In the past it'd be cup with handle (bias is up) instead of double top here.

[Cobra]

Members only update at 12:13 pm
http://www.cobrasmarketview.com/2024/07 ... ay-update/

[Cobra]

Consolidation, breakout is more likely.

[BullBear52x]

Swing setup: Last sell failed, no swing position can last. this is very volatile, no siwng holding in weeks.

Intraday: swing low, it is bearish bias, but if we maintain a trade above 61.8%, it will be a bullish piercing candle. let the Fibo lead.

Internals: bullish bias. Peace!

[BullBear52x]

Bonus chart: Volatile and fearful market, no fera no bear, there is fear, very fearful be warned!

[Trades w 2 Cats]

Any comments on what's happening?

Gordon Johnston on X showing coordinated mass buying by funds of two 0DTE strikes has forced hedging by buying underlying by market makers. His calculation says that accounts for 80% of the up volume today. He also says this is totally illegal but doubts SEC regulators will interfere.

I would add that would explain a lack of follow through.

[Cobra]

Maybe bias is a little bit down. This kind of pullback has been rare for an uptrend day.

[Trades w 2 Cats]

Looks possible, time will tell.

[JFR]

ES daily.

It tested down and reversed. That is a positive for the bulls.

And it tested up.

It is stuck beneath a key level, 5506, and it is well below the EMA 20.

Mostly bearish, imo, but the descent has been, for the time being, temporarily paused.

[JFR]

ES 60 minutes.

Up off S1.

Tried a breakout above the Pivot, and failed.

Back down to a support level.

[JFR]

ES 5 minutes.

Nice two push move up starting 4 hours ago.

It hits resistance, moves down to the Pivot, slips beneath the Pivot, and then heads back downhill.

It's a no progress day, with the bulls trying to end the pullback.

[JFR]

The S&P, the Dow, Nasdaq and the Russell are all up.

The Russell is striving mightily to get the market off the mat.

[Cobra]

Guess the pullback was over for today.

[Cobra]

Members only update at 3:31 pm
http://www.cobrasmarketview.com/2024/07 ... ay-update/