Cobra's Market View

SPX update. 4 day. Auction range is between the circle confluence's.And 4 hour.Good weekend to ya. Vote Cobra.

need to see new HOD.

if this last buy failed, it will not surprise me to see a test of LOD.

back to bear flag watch again. this is fun market, I want more of this.

vacuum down again.

Bouncing on S1 pivot which is just above yesterday's close. Even I could code an algo to pick that point.

there's two outcomes, you got the picture

Clockworks.

need to see new LOD from here, if not, gap down setup is in the card.

Chart for the road: nothing to be bullish about this, Peace!

Daily timeframe, broad market: $BPSPX and $BPNDX Renko are both stubbornly refusing to give buy signals, despite price recovery for many days now. Bullish percentage is weaker, relatively, than price.

On the other hand, SPY is about to generate an attractive classic MACD buy signal in a seasonally favorable zone for long term buys; any strong up day will do it. And Rate of Change type oscillators are neutral and therefore don't forbid acting on such an MACD buy.

Everybody's oscillators are giving buy and sell signals simultaneously, depending on timeframes, depending on settings. That's what happens in sideways market periods.

Go dividends!

SPY, IWM below the 15min 20ema; QQQ still holding.

NYSE advancers are much weaker than nasdaq adv.

well, guess that's it for today. Friday tomorrow has been bear friendly. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

Nasdaq up/down volume actually went negative for the day, into the close.