Cobra's Market View

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Inflation must be gone, QE is imminent. Anyway, it's a bull flag breakout so could be a measured up.

CPI 4.9% was slightly cooler than the 5.0% YoY expected.
This was the smallest 12-month increase since the period ending April 2021.

All the major forecasts:
5.1% - Goldman Sachs
5.1% - Citigroup
5.1% - JP Morgan Chase
5.1% - Morgan Stanley
5.0% - Barclays
5.0% - Bank of America
5.0% - Credit Suisse
5.0% - Bloomberg Economics
5.0% - HSBC
5.0% - UBS
5.0% - Wells Fargo

It's a morning hourly filled black bar.

GOAT Stan Druckenmiller thinks the US economy is teetering on the edge of a recession, predicting a "hard landing", and warning that "there's a lot more bodies coming" with regarding regional banks and corporate bankruptcies.
"...when you have free money, people do stupid things. When you have free money for 11 years, people do really stupid things."
“If I liked the stock market, I would be exposed to it, and I’m not exposed to it
.... I could change my mind in a week or two folks"
https://www.zerohedge.com/markets/lot-m ... ing-people

skid row

Double rail caught it, time for a little bounce. Not acting too bullish since the open....

See if this little rally can turn into something bigger!!

Needs to break thru those 2 MA lines....

I said /ES 4127 will not hold this time, so far it held up twice over night and this morning, I still think we are going lower.

BullBear52x wrote:I said /ES 4127 will not hold this time, so far it held up twice over night and this morning, I still think we are going lower.

Hey Boss: Do you have an update on your REVERSAL TRACKER?

Al_Dente wrote:

BullBear52x wrote:I said /ES 4127 will not hold this time, so far it held up twice over night and this morning, I still think we are going lower.

Hey Boss: Do you have an update on your REVERSAL TRACKER?

Nothing much, sideways, see $BPSPX improvement.

Inside day, day trading only.

BullBear52x wrote:

Al_Dente wrote:

BullBear52x wrote:I said /ES 4127 will not hold this time, so far it held up twice over night and this morning, I still think we are going lower.

Hey Boss: Do you have an update on your REVERSAL TRACKER?

Nothing much, sideways, see $BPSPX improvement.

THANKS BOSS

After the bell: DIS earnings report

Another 100% measured move down (pink tinted area), so probably there's still another leg down.

Back inside no man's land.

Next big news is wait for Debt ceiling. we need to borrow more money to pay debt. (say what?) yes, need credit line to pay creditor. Haha.

internals are bearish with big bearish bar. Peace!

ES daily.

A doji, with large shadows testing both up and down.

The huge trading range continues, since late March.

Resting on the EMA 20.

ES 60 minutes.

It tried to go up today, through the Pivot, through R1, through R2.

And then it cam tumbling down, all the way to S1, and testing below that level.

Major chop on the hourly candles.

Getting a bounce in the last hour.