Cobra's Market View

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Still in range, near range low and small double bottom so rebound?

ES daily. Same trading range, 9 days. Still above the EMA 20.

ES 60 minutes. Level to level. Down from the Monday high, August 8. Bounce back up above the Pivot.

SPY 15 minutes. Chopping around, getting nowhere. Gaps filled. Tricky trading.

ES 5 minutes. Nice move up from 4115. Riding the EMA 20. In a tight base between resistance at 4136 and the Pivot at 4131.

ES 5 minutes.

Breakout above 4136. Resistance at 4140. Forming a new range.

ES 5 minutes. Yowsuh. Sky rocket one hour before the open.

Any shorts out there? Ouch.

https://www.marketwatch.com/

I don't usually pay all that much attention to market news, but that rocket blast is attention-getting.

https://www.wsj.com/livecoverage/stock- ... lation-cpi

Cletus said "more up". Cletus said the CPI report was destined to be extremely bullish eventually due to crashing commodity prices. Some life lessons:

1) Don't bet against Cletus
2) If you said the CPI report was a reason to be bearish, you have failed as a trader
3) If you said the CPI report was a reason to sell stocks, you have failed as an investor
4) If you said the CPI report was going to be ugly, you have failed as a human being

Alternative assets, daily, since June.

Downers: DBC and USO.

Uppers: IYR, SPYG, SPYV, TLT.

Down then up somewhat: IAU.

Up then down somewhat: UUP.

Hi y'all, I'm baaaaack!! =D

That can only mean one thing.

Good to see all the OGs still hanging strong up in here

It's a morning hourly filled black bar.

Sit on hands, dip will be bought, not chasing here.

Big picture, not quite hit 50% retracement yet, today intraday dips buying setup will tell if we are going to push up to that or Doji here and reverse down.

The VIX has now fallen below 20. That was the area where the market might run into some headwinds. After the bullishness of today and probably into tomorrow, the market has a chance at pulling back. If the Vix can't stay below 20 for very long, the bear is still very much alive. If the Vix collapses to 15 or lower, the bull is back.

Dow 30.

A whole lotta green. Led by frequent leader-laggard BA. MRK trailing, all alone in red.

Back later ...

The pullback should be bought which if it's right now rather than lots of bars later then it's an uptrend day.