Cobra's Market View

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3 push down then higher low so the low was in?

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

SPY 15. A big drop yesterday. Flat since the market "closed" at 400 ET.

open price will determine the direction today I think. if open lower than -3 points it will be bearish morning I think. daily support at 50 MA will be a key bullish play of support other than that it is down trend short term, rips will be sold.

sit on hands, conflicting signals. HH will be an up trend day. no clue right now as far as intraday setup.

MSFT announced an 11% dividend hike and a $60 billion stock buyback program.

Intraday rip setup. will see from here, HH will be bullish from here. sell first.

biggest gainers intraday in the SPX
note energy

Higher low? So the low was in for today?

Heaviest weights in SPY = big tech
30min

AD issues is good, bears are having a hard time to move this market down.

There's bull trend, bear trend, and a headless chicken.

Next week is Bears chance. Pretty large op ex on Friday for the quarter. Major Gamma unclenching as options market makers get out of their hedges. I think buyback cash outweighs lack of stimey for consumers over the short term.

Big buyback cash means Goldman can deploy at key moments to stop a low volume sell off like Zero Hedge was asking about with MSFT yesterday.

Looking at last leg up, any LL (yesterday's low) will be a good run for bears, for now it holds.

Breakout would be more likely if touch the blue line again (I didn't say the breakout would be for real that is a different story).

Ascending triangle, breakout is more likely.

No volume on the up tick, looks like a bull trap, but FOMO don't care. I am sitting out.

Come2papa swing sell setup.