Cobra's Market View

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Maybe it's a diamond as a continuation pattern so bias is up.

ES daily. Up from the close, and from support. A small bull candle so far.

ES 60 minutes. In a range for a number of hours. Between the Pivot and R1. Between resistance and the EMA 20.

SPY 15. Drifting along. Resistance just overhead.

ES 5 minute. Moving from level to level. In a range for about 90 minutes. Fades. Scalping has been OK as the market is relatively calm. Always dangerous.

Back later ...

Excellent discussion on the weekend update with charts and ideas/comments about bear market timing and levels. Check it out!

According to RELATIVE STRENGTH: Money has been rotating into energy stocks (that's old news), materials and health care.
Daily

The breakout could mean it's an uptrend day.

@Mark Ungewitter posted chart this in twitter, I am wondering if Cobra (Please) can can help how to set this in stockcharts, and read this chart to understand the price momentum change using ?

This is what Mark said -

All bear markets come to an end, but there’s no telling how deep they will run. Fortunately, you don’t need to call a bottom, as price momentum typically confirms the next durable advance.

The very first touch of EMA20 in 2+ hours usually is buy, but sometimes it's only good for a scalp though.

TO: tkvprasad

Everything you need to know about setting up charts is in the chart school:
https://school.stockcharts.com/doku.php ... lators_ppo

And, stockcharts has a tech support that you could contact: https://support.stockcharts.com/doku.php

Finally, COBRA has a PPO chart for you to follow: https://stockcharts.com/public/1684859/ ... /740281064

C&H? Measured move to 400.50 on SPY?

Don't know whether it'd be a double top here or not, but if bulls can touch the blue line above then a breakout would be likely.

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

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/ ... /533449374