Cobra's Market View

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It's a symmetrical triangle here so bias is a little bit up.

Gap up within the yesterday's range so likely just a range day.

SPY 5. In a tight range.

Volume surge, might be a pullback here first. If no, then it'd be an uptrend day. Key time.

SPY 5. Moving on up.

The pullback should be bought.

IPO
Robinhood valued at $32 billion after selling shares in IPO at $38 per share
ticker: HOOD

Breakout is more likely, I don't think it'd be a double top here.

Top Performers intraday
Large cap OEX-100
plenty of financials

Semis are strong bc
QCOM beat earnings and revenue estimates on 5G wave
gap up

HOOD
RUMOR just before the IPO:
“There was a lot of chatter in the pre-market about Goldman having issues getting the deal fully allocated ...”
anticipated range of $38 to $42 per share

REALITY after the IPO opened at $38
demand is weak

Bespoke, last night
After another day of earnings reports, 86% have now beaten EPS estimates and 81% have beaten sales estimates so far this season.
19% raised guidance to just 2% lowered guidance.

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449397

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