Cobra's Market View

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Double bottom?

SPY 15. Down day yesterday, very choppy into the close. Flat in the post-market and pre-market.

daily= pos but turning neg Hourly=pos. 15 min= mixed as we head to the open; numbers i am watching; 4554 4534 4502 4572-76 4456 4475 4421 4418 4381-84 4372

Need to sell off some more to the daily dips buying point. hanging on to 4475.5 (/ES) will do bulls no good.

ES daily. 7 days down. A doji so far. Sitting on the EMA 20. Is it going to fall off the cliff?

Inside day. leaning bearish until deeper say 4422.25ish./ES

ES 60 minutes. In a base beneath the Pivot and beneath the EMA 20. Needs a breakout or breakdown.

Alternative assets. IAU up. IYR, SPYV, TLT down. Pick your poison? Nah. But like the roll call sergeant said, "Be careful out there." How the heck do you do that? Targets and stops, short term.

Updated my daily weekly to a heatmap of the composite volume. It makes it a bit clearer where the market is likely to move.

Sad news the person who coded the weekly overlay candlesticks as well as the outside and inside bar special colors at Futures IO forum passed away last week.

For all the chopping around the distribution looks normal.

XLV. Slim pickings once again today. XLV is approaching the top. Not blue skies above.

ES 5 minutes. Ooops. The bottom fell out.

Sectors. Risk off.

Big picture. @50%

Trades w 2 Cats wrote:

ES 06-22 (Daily) _ ES 06-22 (Weekly) 2022_04_07 (9_03_33 AM).png

Updated my daily weekly to a heatmap of the composite volume. It makes it a bit clearer where the market is likely to move.

Sad news the person who coded the weekly overlay candlesticks as well as the outside and inside bar special colors at Futures IO forum passed away last week.

Liked the chart.

Trades w 2 Cats wrote:

ES 06-22 (Daily) _ ES 06-22 (Weekly) 2022_04_07 (9_03_33 AM).png

Updated my daily weekly to a heatmap of the composite volume. It makes it a bit clearer where the market is likely to move.

Sad news the person who coded the weekly overlay candlesticks as well as the outside and inside bar special colors at Futures IO forum passed away last week.

''

Sorry to hear that.

For now the intraday bearish consolidation is normal, retest on MA but only to move down LL, as long as no intraday HH the expectation will continue to be more down, until HH shows up then there will be a range day to up possibility.

Testing the yesterday's low, I think bulls might have chances to make a double bottom because the pullback has been slow with lots of overlaps.

ES 5 minutes. Testing down.