Cobra's Market View

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The chart may look missing a revisit of the yesterday's low.

Flat open, so likely it's just a range day, until the roller coaster show of course.

ES daily. Sitting on the EMA 20. On a ledge.

ES 60 minutes. In a range, on the 60. Stuck beneath the EMA 20.

SPY 15. Right at the previous close. All is quiet.

Overall leaning bearish both momentum and internals. Pivot line is clear. should be easy one line in the sand to follow.

My swing sell setup, first under 5 DMA this time around.

ES five minutes. Very choppy at the opening. Price thrashing around, going nowhere. So far ... Ha ha.

ES five. Testing a key support level.

ES five. Pushing down hard. Not a time for bulls. Ha ha.

Fearful market.

EMA20 here is the bear's last chance to make a 2nd leg down.

Inside day sell MA resistance setup, this is it if there will be a down trend day.

8:17 AM 2021-12-15
30 min ES Dec 2021 chart
neutral awaiting FOMC
could take out both levels (eg. take out high before moving lower or vice-versa)
levels 4625.25 and 4651.75

9:37 AM 2021-12-15
4625.25 taken out - stop running.
up and down until FOMC

My read on roller-coaster:
Very high PPI yesterday (1970's high)
Perhaps down today after taking out high stops above 4651.75 (maybe even touching 4671.75??)
Down target could be big.

ES up to a key level, trying to push through. Early birds, speculators and bargain seekers. And big money looking for a place to park their dough. No quit in the bulls.

30 min chart

PFE. Yeah, I'll vote for that.

Bears took back control right away, well, Fed will lead us out of this inside day range, Key level 38.2 and 61.8% anything in between leave it alone.

SFM. There is little sprouts again. I missed it this time.

Back later ...

/ES, failed here will tag down along the lower BB in a grand style, this is where they trap more dip buyers. (/ES delay chart)