09/17/2024 Live Update

[Cobra]

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Testing the previous high, wait and see. I think bias is up.

[JFR]

ES daily.

Back up to the level of August.

Not quite back up to the level of July.

But very good for the bulls.

Possibilities:

* Trading range as the bulls and bears show their determination.

* Breakout. Could happen.

* Breakdown out of a range? Could happen.

Favors the bulls at this time, after the latest recovery, imo.

[JFR]

ES 60 minutes.

Third push up.

Trading range coming?

I would be surprised if it just kept going up at this point. I think it would need a range breakout.

Pretty good move up since last Thursday.

Up through S3, S2, S1, the Pivot and R1. All the way to R2, where it has paused.

[JFR]

ES 5 minutes.

Nice move up since about midnight on the west coast.

Now in a range.

Needs a breakout.

[Cobra]

Members only update at 10:09 am
http://www.cobrasmarketview.com/2024/09 ... ay-update/

[Cobra]

It's a morning hourly filled black bar

[BullBear52x]

Headline: Fed to cut rates by a quarter point with a soft landing expectation. Huh? there will be a landing? LOL.

[BullBear52x]

Red line today is very important to keep the positive price action.

[BullBear52x]

Inflation expectation: money is on the up side, a rate cut probably will push this back up above 50 MA.

[Trades w 2 Cats]

We have seen this before. Strong move during European trading on no news then it fades into a range during prime hours. Here we are an hour later still at the opening print.

Amazon is laying people off as we move into Xmas shopping season. So the Market is saying Amazon management is dumb?

[Cobra]

Members only update at 12:02 pm
http://www.cobrasmarketview.com/2024/09 ... ay-update/

[Cobra]

Maybe bias is down? May test the day low.

[Trades w 2 Cats]

Could easily close the overnight gap.

[BullBear52x]

Swing setup: entering buy the dip zone. first thing first

Intraday: new swing hight but if 38.2% can not hold up, it will be a mother of reversal.

Internals: mixed signal, still leaning bullish but very questionable now.let see how we closed on this. Peace!

[Cobra]

Generally the rebound would be sold.

[BullBear52x]

Buy triggered. keep it simple, new buy new box, make or break.

[BullBear52x]

Bonus chart: Fear Not!, looks like a little strugling to move pass the center line here. $VIX is picking up but not yet cross back up to fearful market. market must be waiting for some good news, what will that be? LOL

[Cobra]

Possible double bottom.

[Trades w 2 Cats]

Gosh, not a surprise to see us back at the high volume node and very much within the range.

Chattering class is saying .25 by Fed is risk off while .5 is risk on. One thing is certain, there is a lot of uncertainty about what they will do. If I understood options I would be thinking about a strangle.

I do understand price action and that is drying up this afternoon .

Probably switching to the new contract in the morning so my ES wave count stuff will all be off by over 60 points.

[Trades w 2 Cats]

Should add that the tick chart show shows you how the volume is moving out of the old contract just by glancing at the width of the trading day.