10/05/2022 Live Update

[JFR]

SPY 15 minutes. Re the bias ... if it stays beneath the EMA 50, OK. If it settles above the 50, the bias changes to flat.

Back later ...

[Cobra]

EMA20 here is the bear's last chance to make another leg down.

[Al_Dente]

earlier today:
OPEC+ ministers agree to cut production by 2M barrels per day

[merryme]

Respecting Frequency Line for now....

[merryme]

Fast chart looks bullish...but is can change...FAST!

[JFR]

SPY 15 minutes. Good move up. My bias is now flat. Price is sitting on the EMA 50.

Back later ...

[BullBear52x]

Intraday sell setup, not a penny higher once it triggered. it is bullish in auction houses theory (failed breakdown) last sell setup until new LL were printed.

[Cobra]

Members only update at 11:50 am
http://www.cobrasmarketview.com/2022/10 ... ay-update/

[BullBear52x]

Sell failed, side ways to up from here.

[Al_Dente]

SPX, intraday, energy leads the greens

[Mr. BachNut]

Well, the NYMO cycle appears to be UP, but we are still lacking two positive closes to confirm.
We are below the zero line intra-day. The 9/12 NYMO high was an oversold squeeze that faded. It is conceivable that yesterday's high was too.
The 9/26 low was extreme and near impossible to beat. So, by default the cycle should print up in eventually.

Price has an edge for a trip to the middle keltner band (currently SPX 3918.89 and falling).
Visits to the NYMO Oversold Zone typically get a rally to middle keltner... though sometimes it's a rocky road.
We have nine open gaps above, but only one from yesterday is nearby to serve as a possible magent.
We have two below from the last three trading days.
Both the 200 MA and the upper keltner band are below the August high as well as the declining tops line.
October is known as The Bear Killer. It can be highly volatile (crashy even), but often ends strong.
I don't know what will happen, but I am open to the possibility of a bear market rally that confuses everybody.

I am long a smallish SPX position.
My usual setups have not traded yet, but I bought the quarter close on a discretionary basis given a HUGE positive NYMO divergence and edge to the middle keltner.
Plan is to close on a tag of the middle keltner or at breakeven, whichever comes first.

[BullBear52x]

Common chart pattern. we are entering sell the rip on a swing setup. will see next buy dip intraday if it will produce a winner or bull trap. I am not buying or selling anything until a clear breakout from today's range is clear, no trade until then.

[Cobra]

The pullback probably will be bought. If touch the blue line above again then breakout would be more likely.

[merryme]

Very bullish 1x.1 chart. Target is higher than chart can display.

[merryme]

Another view 1X.5 target hits ..

[merryme]

I'm out. Like BB52 says, "Greed kills."

[JFR]

SPY 15. Eyes on the pbar target.

[Cobra]

I don't think it'd be a double top here (red arrows) but let's see.

[BullBear52x]

Looking good, could be stronger breakout but this the turn that buyers want to see. closed higher will paint a very bullish picture.

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2022/10 ... ay-update/