Cobra's Market View

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A lower high here would be too easy for bears but let's see.

Gap down but within the Friday's range so probably just a range day.

SPY 15. Small pbar at 0800am. About back to where Friday closed in extended hours.

SPY 5. Regular hours. All quiet. Going to break loose?

Investing.com chart is down, can't show ES. sell day, Bears honey hole counter trend setup.

INTC, MU. Gonna have to get to my desktop to check these stocks and some futures for action.

Today's moving target.

Maybe we have the range low, now seeking the range high.

7/22 Here are the items really driving up inflation:
Car rental 87.7% (y/y change)
Used cars 45.2%
Gas 45.1%
Laundry machines 29.4%
Airfare 24.6%
Moving 17.3%
Hotels 16.9%
Furniture 8.6%
Bacon 8.4%
TVs 7.6%
Fruit 7.3%
Shoes 6.5%
Fresh fish 6.4%
New cars 5.3%
Milk 5.6%
Rent (OER) 2.3%

Quiet day. But KO making a move.

From AutoChartist. SPX500, 30 minutes. Channel up. As always, gotta fight through resistance.

Back later ...

Now it is bullish, bulls will hold until the Fed meeting before anything change.

$VIX is up

Top performers intraday
OEX-100 big caps
(lots of energy)

Hasbro HAS is the best performer in the SPX today
up +10% on earnings

The pullback probably will be bought. I don't see range high yet, there're some chances it's a typical down in the morning then up and up till the close day.

How radical would it be if the market sold off in the afternoon? That's something we haven't seen in quite some time. Even last Monday, the market rallied +62 bps in the last half hour. Whenever we do see an "after-lunch" sell-off it will signify a change in market tone.

buy dip failed. now sideways market is my best guess. I am sitting out, will sell the next sell setup.

bears are now earning two sell coupons.