Cobra's Market View

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to [email protected].

========================================================================================================================================================================

It's a consolidation and the low has been tested many times, so may not hold another test therefore bias is down.

Members only update starts here: http://www.cobrasmarketview.com/2020/03 ... ay-update/

ES daily. Well beneath the EMA 20.

Dow 30. Dow Holdings, (DOW), UNH and PFE leading the way. UTX, MCD and WBA trailing.

ES 5. Testing down.

11 Signals UP
https://stockcharts.com/public/1684859/chartbook

SP.1 Jun Futures BUYING Above 2,370.75

ES 5. Bulls fighting back hard. Very dangerous scalps.

New Highs Don't Lie

REGN Target + 85 %
From 472.6 to 871.92

90 % Margins

this morn:
Eight major financial institutions, including Morgan Stanley, Goldman Sachs and JPMorgan Chase, are borrowing money from the Fed, according to The New York Times. Central bankers urged them to tap its short-term funding facility to make it easier for credit to continue flowing through the economy.

ES 5. Testing down. I have no prefererence, up or down. Just scalping here.

People Hold Tops
Trade Bottoms

Microsoft has closed all its retail stores in the U.S. and around the world. Nordstrom announced it is closing its 364 stores for two weeks, but it remains open online. General Motors and Ford are offering new vehicle financing programs to spur sales as auto showroom traffic slows. (CNBC)

Amazon, hit by a wave of delivery delays and product shortages, said it's hiring an additional 100,000 warehouse and delivery workers in the U.S. to meet the surge in online shopping. Amazon is also raising pay for warehouse and delivery workers by $2 per hour in the U.S. through the end of April. (CNBC)

descending triangle forming... support being tested over and over again... bearish continuation, and the confluence of the bottom of the triangle being the 61Fib mean once this breaks down, expect a big move down to flush out and finally result in capitulation... which is crazy given the 1-3,000 pts moves!

Loaded up on TVIX once more... let's see

ES 5. Down some more. I missed that one. You blink. You miss.

ES 5. Bulls fighting back. Finding some support. Taking a break ...

WEC Target + 77 %
From 94.64 to 167.75
+ 2.6 % Dividend

125.54 Debt/Equity

AMZN
in a blog post, Amazon told sellers on Tuesday that it's suspending shipments of all non-essential products to its warehouses to deal with the increased workloads following the coronavirus outbreak.

"We are temporarily prioritizing household staples, medical supplies, and other high-demand products coming into our fulfillment centers so that we can more quickly receive, restock, and deliver these products to customers," the message said.

So far it's encouraging, but I'll treat it as a range day as long as it's going up. Bulls need hold the up at least until after European market closed. After that another key is after 12 noon which usually turned down in the past, so lots of works to do for bulls.

$SPX BUYING Above 2,367.04