Cobra's Market View

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Lots of long lower shadow and slightly lower low so still could be the low was in or near.

ES daily.

Day 18 in this trading range.

Down to the EMA 20, bearish candle.

No man's land.

ES 60 minutes.

Down. Down. Down.

Now resting on S1. Beneath the EMA 20.

ES 5 minutes.

Crashing down beneath support.

The bears are running.

Note FRC ...
last night earnings ...
reaction

Note UPS
earnings reaction

looks like retest of financial sector from March 27th hit the low and it is accumalating now. let's see if the market goes up for now.

mixed bag of economic releases just now. Richmond Fed down, consumer confidence down, new home sales up.

60 min of the short QQQs, did it hit the limit for the day?? So maybe down is over and we can start rallying??

Nope... Down started some more as I posted that!!

Serenity wrote:looks like retest of financial sector/ Bank from March 24th hit the low and it is accumalating now. let's see if the market goes up for now.

Bank sectors struggling 10 points above March 24th. Liquidity needs to come to the market to push the market up.

Daily swing low and close low will confirm down trend until daily RSI(5) hit <30. south bound train.....

This is a chart of the SHORT QQQ. I would think we would need a couple or 3 bars above this line. However, it does give me pause for playing on the long side....

/ES 4127 again, I don't see this will hold, looking down to 4030 from here on.

Bearish crossed. buyers beware.

Bear Porn warning:
Long term Big Picture is not good here. Quarterly. Market needs 4200+ by june 30. Market is on the clock. Lower bollinger in play if she don't. imho. very important times.

I see early sign of a downtrend day.

EMA20 now is the bear's last chance to make another leg down.

Same playbook, until it fails...