04/20/2026 Live Update

[Cobra]

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The rebound overnight for now looks like a rising wedge so bias maybe a little bit down. This market has been unbelievably bullish so any guess of "down" has good chances of being wrong.

[JFR]

Cobra opens early. Good morning, Cobra.

That is fine. I happen to be awake, although since December I have been sleeping in, and generally getting a lot of sleep. So ...

SPY 5 minutes.

Gap down since Friday.

Then it begins a slow crawl up.

Elevator down, escalator up? Kind of, although the elevator down happened over the weekend.

[JFR]

SPY 5 minutes.

In the premarket, price is creeping up, and is accelerating.

It might fill the gap.

[Trades w 2 Cats]

Trend looked up until we got close to the NY open. Maybe we need a positive news item.

[Cobra]

Members only update at 10:02 am
https://www.cobrasmarketview.com/2026/0 ... ay-update/

[Trades w 2 Cats]

Big picture says no more up up and away today

[Trades w 2 Cats]

Closer view. Classic retest significant level from below and a fast clean drop for my vote of trade of the day so far.

[JFR]

SPY 5 minutes.

It teased a fill, and backed off.

I play more longs than shorts.

But imo this market needs to back off.

With all that is going on, it should not be back up to the high.

Lately today, it seems the market is agreeing with my view.

''Whoa, Trigger, not so fast.''

I put it on the big players, who mostly need long commitment from the market, and are buying enough to keep the market afloat.

That is just me. Longs or short, all fine with me.

[Cobra]

EMA20 now is the bear's last chance for another leg down. My guess is the low for today might be in.

[Cobra]

Members only update at 12:05 pm
https://www.cobrasmarketview.com/2026/0 ... ay-update/

[Cobra]

Members only update at 3:33 pm
https://www.cobrasmarketview.com/2026/0 ... ay-update/

[Cobra]

Members only update at 3:50 pm
https://www.cobrasmarketview.com/2026/0 ... 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