Cobra's Market View

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Don't know whether the rebound overnight means the low was in or not. My feeling is down, kind like head and shoulders top.

"Oil hits highest level in 10 months"
Performance chart, 60min, 20 days:
USO is dashed lime

Possible double bottom, the low might be in for today.

Decision time. Are wew setting a range for the day or will we break out?

Still waiting for a decision.

ES daily.

Small candles. In a range. Above the EMA 20.

ES 60 minutes.

A choppy little roller coaster ride.

ES 5 minutes.

Chop and spikes. Beware the stop outs.

4910 area seems to be the magnet today. As JFR commented lots of spikes, not a good environment for longer term swings. But when Monday comes on Tuesday, especially with all the stimy the Chinese unleashed over the weekend, well what do you expect.

Bias is down and down a little more to exceed the tinted area then it'd be 100% measured move down which usually means another leg down is likely.

More tan 100% measured move down so likely there's another leg down.

Swing buy failed, next rips will be sold.

Intraday: another swing low, weakness to continue.

Daily trend following triggers sell the rip today. Peace!

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

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/ ... /533449381