Cobra's Market View

Not intraday. MEDIUM TERM:
I want to see the green 10 envelope go up (or flatten then move up) before considering it safe to add longs

Here comes the breakdown now let's see whether the usual part of the bear trap in play or the breakdown is for real. Tinted area is the text book target.

four of the BIG GUYS on 60min

HYG, junk bonds:
Investors pulled more than $1 billion yesterday from the biggest junk-bond ETF, BlackRock's $27.8 billion fund that trades as HYG.
It's the biggest daily withdrawal since February, and one of the bigger ones in the fund's history.

Interestingly, traders also pulled $744 million from LQD, the popular U.S. investment-grade bond ETF, even though some traders had been treating top-rated credit almost as nearly interchangeable with U.S. Treasuries for much of the year.
[Bloomberg]

Possible higher low, the low might be in for today.

ES 5. Open range. Slow train to nowhere. Back later ...

Internals are getting worst by the day, need good news or stimulus package to lift off this market,

what a wasted of a good hammer candle. now we have gap and no go kind of action. not so hot bulls, need to do more. so far morning high is still a morning high. Weak Sauce!

Testing the previous high but I think bias is up.

Rumors about what Mr. Buffett may be doing are interesting, but looking at what he did last quarter provides some facts, Sold 61.52% of his JPM holdings, Sold out of GS, Bought SYF, among other trades noted here at this link:

https://www.nasdaq.com/market-activity/ ... -inc-54239

Clear breakout, this bull shall have legs.

Now we are talking. I will buy next dip if still got time.

last sell on this new trend reversal, so bulls will have to show new high in the next 4 to 8 hours.

ES 5. Pulling back sharply from new high.

'm not update on my model so I've been winging it.

in any case I think we could have a sell point here. (mulitday)
3286 was/is a key level.

we'v had
3289.50
3291.75
and just recently
3299 @ 13:20

So I think that is done and will sell on this bounce 13:30CT

One day doesn't make a trend like we all know, for me as long as we are under 38.2% of any time frame of a trade, bears are still on a driver seat. for now good start for the bulls but they have to keep on pushing higher from here on out.

The pullback should be bought which is what this bull shall have legs mean.

10% correction already, it's good and healthy bull market. (is it a bull market?)