05/07/2026 Live Update

[Cobra]

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I see a price channel, now near the channel lower boundary so about to move to the upper boundary? This market is insane.

[BullBear52x]

Watch MA support, LL here we might have a look above and fail situation.

[Cobra]

Members only update at 10:09 AM
https://www.cobrasmarketview.com/2026/0 ... ay-update/

[Cobra]

It's a morning hourly filled black bar

[JFR]

SPY 5 minutes.

A zigzag kind of day.

Overall, up a bit.

[BullBear52x]

A little weak, but it will take a lot of selling to turn this around.

[BullBear52x]

This is it, the start of something. Haha...

[Cobra]

Members only update at 12:02 pm
https://www.cobrasmarketview.com/2026/0 ... ay-update/

[Cobra]

This bear shall have legs.

[BullBear52x]

First thing first, this dip will be bought, until then.......

[BullBear52x]

It is what it is. let the process plays out. new box, make or break. Peace!

[Cobra]

Rebound then another leg down to test the previous low so bear leg has been fulfilled. Now let's see whether bulls can make a double bottom here. I give it 51% chances since so far still can be seen as a range day unless a decisive breakdown here.

[Cobra]

Another chance of double bottom. I say 50%.

[JFR]

SPY 5 minutes.

Realty hits.

Overhyped market.

[JFR]

SPY 5 minutes.

The bulls are trying to put in a bottom.

[Cobra]

Members only update at 3:45 pm
https://www.cobrasmarketview.com/2026/0 ... ay-update/

[Cobra]

Members only update at 3:51 pm
https://www.cobrasmarketview.com/2026/0 ... 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