Cobra's Market View

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Consolidation overnight, bias is up.

By Aug 4th , 80% of the $SPX finishing their earnings.
7/17 was the first day that High Yeiled Index option adjusted spread hit the lowest part Bolinger band.
As long as sellers selling to retail traders, this Christmas in July contniues for retail traders. Market can not go up forever, SPX is 89.31 now. (My fuzzy thoughts)

Breakout would be more likely if bulls can touch the blue line above which if indeed, it'd be another uptrend day.

Need the smalls to push through this resistance...

Can't keep a sustained break....

Testing day low, normally would be breakdown then reversal up.

Swing trade, nothing change, dips will be bought.

Intraday: today trading with a negative price action. very overbought market as is.

Internals are very strong, complacency level on put/call ratio.

Look at the treasury yield charts, this rally will not sustain. Peace!

Swing buy setup, new box. GL

So indeed it's a breakdown then reversal up. Now let's see whether it pullback from the range high.

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449387

SPY 5 minutes.

Chop. Chop. Going nowhere.

I got caught once and took the rest of the day off.