05/07/2025 Live Update

[Cobra]

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Still could be a head and shoulders top in the making. Need break the neckline below to confirm.

[JFR]

ES daily.

Lower open. Lower close.

A doji.

Flat for a handful of candles.

The trend is still up.

[JFR]

ES 60 minutes.

Down at an angle. And then a steeper angle.

Sideways for a few days.

[JFR]

ES 5 minutes.

Down. Level to level.

Finding support at the Pivot.

[JFR]

ES 5 minutes.

Aiyahh.

Price just shot down the chart.

Powell speaks today.

Back later ...

[Cobra]

Members only update at 10:12 am
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[grandeG]

Nice little spike up last night. See if it acts as support today before Powell speaks.

[Trades w 2 Cats]

Volumetric view of the announcement that we are having talks last night. Looking at the volume numbers no body traded it. Then we have the Apple announcement of AI enabled search this morning which caused Google to drop like a rock and it took the market with it. Now back to our regular FOMC programming!

[Cobra]

Members only update at 11:58 am
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[Trades w 2 Cats]

I was surprised to see that my new format caught the Google induced drop. I keep changing my mind on having the machine highlight engulfing bars but it showed it's value today. Also the updated mash up of the old Wells Wilder ADX system also showed the change in a timely fashion, with warning!

I sat down last night and wrote up what all the stuff on this chart is. Really pretty boring, so I will post it this weekend.

[Cobra]

Maybe we have the range high and low before the 2pm roller coaster show.

[Cobra]

30s to show time.

[Trades w 2 Cats]

Fed as expected. Perhaps the prersser will lead to some moves.

[Cobra]

Maybe the low was in. The FOMC day usually closes weak though so maybe won't be up big from here.

[Cobra]

Members only update at 3:33 pm
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[Cobra]

Members only update at 3:50 pm
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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/ ... /533449387