05/12/2025 Live Update

[Cobra]

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This bull shall have legs.

[JFR]

ES daily.

Gap up.

Well above the EMA 20 and the trendline.

All the way to 5865.

[JFR]

https://www.marketwatch.com/livecoverag ... =home_lead

[Cobra]

Members only update at 10:04 am
https://www.cobrasmarketview.com/2025/0 ... ay-update/

[JFR]

ES 60 minutes.

Up through the Pivot, R1, R2 and R3.

Finding resistance at 5865.

Heading back to the all-time high? Dunno. Maybe, but the bulls are crazy. Ha ha.

Tariffs are still there. The economies will still suffer. The stock market is having some kind of euphoria because a pause was put on between the US and China.

A crisis, a fire, was created by executive decision. And now efforts are being made, sort of, to put the fire out.

Be careful out there. It is a bizarre FantasyLand, an alternate reality.

Play the charts and the news. I don't think fundamentals are all that relevant at this time.

In my opinion.

[JFR]

ES 5 minutes.

Huge move up just after midnight Pacific time.

Then flat and drifting up a bit.

Now on a pullback to 5820.

In a trading range. Needs a breakout.

[JFR]

A number of stocks are showing up on my scans today.

BAC and C have been posted on here previously, as stocks I like a lot.

Two airlines, AAL and DAL, and two car companies, F and GM, show up today.

Remember the joke Warren Buffett used to say about airlines: He had one guy on payroll whose only job was to prevent Buffett from buying any airline stocks. Ha ha. (He relented on that idea later.)

Not recommending, just sharing information.

Be careful in the current FantasyLand. Ha ha.

[Trades w 2 Cats]

Once again challenging the resistance/support zone that has been a fixture for close to a year.

Sorry about my charts. I normally read them on a 42" 4K TV, but I am using my lap top screen so text etcetera is not optimized for the 15" screen.

[Trades w 2 Cats]

Just pointing out that we have seen this play before. Sunday night suprise in very low trading. London open and the slow sell down starts.

[Cobra]

Nothing to say, we're in a range so far.

[Cobra]

Renewed bull strength. The pullback probably will be bought.

[tsf]

Thank you, Cobra and the Board.

I wish BB52x would pop in and let us know if this is the start on a new box higher or just overbought. ;^)

[Cobra]

I think it's a cup with handle in stead of a double top here therefore breakout should be more likely.

[Cobra]

Members only update at 3:30 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 Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

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/ ... /533449374