05/08/2025 Live Update

[Cobra]

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Might be a range here, now near the range high therefore we have a pullback which may or may not go all the way to the range low, wait and see.

[JFR]

ES daily.

Higher open, high, low and close.

But it is in a trading range for a handful of days.

Above the EMA 20 and the trendline.

[JFR]

ES 60 minutes.

A move up overnight.

Pullback to the EMA20 and R1.

[JFR]

ES 5 minutes.

Up and down.

Beneath R1.

Moving from level to level, in little ranges.

[JFR]

The index futures and ETFs are up somewhat today so far.

Trade deal between US and UK ... I do not expect a fantastically satisfying deal. I read where the 10% will stay in place. As well, trade with the UK is relatively small. Will it be a template for other deals? LOL Who knows? And any deal can be torn up anyway. NAFTA as an example. And the USMCA could be next.

If it gets back close to what was there before, the market will see that as a positive.

The economy? That is another matter.

IMO.

[Cobra]

Members only update at 10:01 am
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[Trades w 2 Cats]

Looks like significant support at 5,650 and below.

[Cobra]

Lower high?

[Cobra]

This bull shall have legs.

[Cobra]

Members only update at 12:03 pm
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[Cobra]

The pullback probably will be bought. EMA20 below is the very first possible place.

[Cobra]

Still the pullback could be bought, just it's larger than I expected so the "bought" no longer is a "sure" thing.

[Cobra]

Revisiting the previous low, now let's see whether bulls can make a double bottom.

[Cobra]

Members only update at 3:30 pm
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[Cobra]

Members only update at 3:52 pm
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

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/ ... /533449397