Cobra's Market View

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Not a very clear falling wedge so maybe still some down room (until the wedge near the end)?

Looking at yesterday's down move. The effort to push up in each structure got weaker and weaker until EOD when there was buy to cover. (Opinion only)

Failed breakdown, auction house theory.

Santa is not real? don't tell that to the traders.

No time for usual bla bla post today.

Just want to point out that NYMO closed in the lower Turn Zone yesterday.
Can go lower, but time to be watchful for direction change.

Short SPX runner with BE stop.

Last leg up pull back to 50%, not bearish until a trade under 38.2% in a bullish view. see last one a pull back were all the way to 38.2% then rebound but only failed back, strong bulls should start buying in this area. daily trend following is waiting for a good reversal to trigger a buy. so...find excuse to buy. internals are also bullish again atm.

Mr. BachNut wrote:
Short SPX runner with BE stop.

Flat.

A trade over yesterday's high will lit up the fire works for bulls.

Breakout to the new day high here with a good looking bar in the next couple of bars then it's an uptrend day.

ES daily. Today's test down failed. But still beneath yesterday's high.

ES 60 minutes. Down. Down. Down. And now testing for a breakout above the Pivot.

ES 5 minutes. A pause in the move up. Now testing down beneath the Pivot.

Swing sell setup triggered. I am not selling today, buy dips and hope this sell will fail, good momentum, if bulls want this, it should be easy today but.....until then.

Back down to support. Will it hold?

Intraday buy setup, last buy, if this buy fail, I will call it a day, there shopping to do

The pullback at the magic time means it's just a range day. Now seeking range low which I assume is the day low.

History need not repeat:
During the last 2 large corrections (dot com/real estate), the fed started reducing interest rates in nov 2000 and aug 2007 (fed funds chart) - average bottom tag was 2 years later and 50%+ more downside following the 1st reduction. One can ballpark how much more we gotta go IF this a similar deal ( March this year start date) - That is the last Coal post for naughty listers. Amidst the gap fill and waiting on bounce for Santa.

Last 20 days
BIG TECH isn't helping the bulls