09/16/2022 Live Update

[Cobra]

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Maybe bias is down.

[JFR]

ES daily. Look out below.

[JFR]

ES 60 minutes. Down beneath S1. Approaching S2.

[JFR]

ES 5 minutes. Sharp move down an hour ago.

[Al_Dente]

UoM consumer sentiment at 10:00 a.m. ET

[Trades w 2 Cats]

Warning, Futures Trader 71 said everybody out of the pool for U of M survey results.

[Al_Dente]

FDX is dominating the news
down -23% at the moment

UPS is down -5.4%

[Al_Dente]

Obviously puts are popular today

[brokebybernacke2]

Warning, Futures Trader 71 said everybody out of the pool for U of M survey results.

[merryme]

Old lines still in play.

[merryme]

Now and older chart. Maybe a bear trap. Maybe not. Like Cobra says: "Probably not the end of the world!"

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2022/09 ... ay-update/

[marcueus2]

Now and older chart. Maybe a bear trap. Maybe not. Like Cobra says: "Probably not the end of the world!"

even 60% drop from the top is not the end of the world Market is still extremly overbought with PE standards. Do not fight the FED or go broke

[brokebybernacke2]

Now and older chart. Maybe a bear trap. Maybe not. Like Cobra says: "Probably not the end of the world!"

even 60% drop from the top is not the end of the world Market is still extremly overbought with PE standards. Do not fight the FED or go broke

60% drop not end of world? are you Cathy Wood?

[marcueus2]

Now and older chart. Maybe a bear trap. Maybe not. Like Cobra says: "Probably not the end of the world!"

even 60% drop from the top is not the end of the world Market is still extremly overbought with PE standards. Do not fight the FED or go broke

60% drop not end of world? are you Cathy Wood?

AMZN fell 96% from the top and go than 50000% up This is just normal bear market thats all. Bulls should love bear markets as it is best time to buy assets

[Al_Dente]

THE BIG THREE

[brokebybernacke2]

Now and older chart. Maybe a bear trap. Maybe not. Like Cobra says: "Probably not the end of the world!"

even 60% drop from the top is not the end of the world Market is still extremly overbought with PE standards. Do not fight the FED or go broke

60% drop not end of world? are you Cathy Wood?

AMZN fell 96% from the top and go than 50000% up This is just normal bear market thats all. Bulls should love bear markets as it is best time to buy assets

LOL yes, I remember! But, Waitin is the hardest part, Tom Petty. rip. part 1 of your sentence , agree with, the big discount in process. part 2, up 50000%...that is gonna be a bit of a challenge:)

[Cobra]

It's the bear's last chance here at the EMA20. I think bias is up though.

[Mr. BachNut]

Just a quick update...

NYMO hitting the lower Turn Zone this morning.
Also, we have big positive divergence with price making lower lows but NYMO well above prior low.
Perhaps a tradeable low develops in the days ahead.

Price has broken the rising bottoms line. Bad.
There is a down gap or two not far below today's low that may act as magnets (3830.85, 3790.38). Bad.
Price has not broken the June or July low. Good if they hold.
Bears kinda need to keep pressing at this point and get another tag of the lower keltner band (3764.50). Bad if they do; good if they don't.
The market generally doesn't like to make a low on Friday. Lower lows ahead?
We have 9 up gaps above. That is a lot. A move to close some of those should not surprise.

I am still flat. Just have not been ready to trade since summer vacation.
Still think my next trade may be a long.

[merryme]

This is a WEEKLY chart. It is a very big chart so you can't see the volume which adds a lot of context. The red box and the breakdown in May below the #5 gives an incredible target of $320.76. If we were to break below the June low of $364.50, then the target is lower as noted. The targets are negated with a close above $466.56. None of this has to happen...it's just a possibility. To me, the chart looks like we are in for a long, sideways slog.