Cobra's Market View

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You can see the pullback overnight as the revisit of the previous low (before a solid bottom) but looks to me the pullback wasn't enough seen as a revisit, need a little more on the downside.

40% chances of double top here. More likely it's just a range, now testing range low, may somewhere rebound to range high.

More up form here then it's no longer a range, instead could be an uptrend day.

Some news after my post two days ago.

Price tagged the lower keltner band at SPX 4242.07 yesterday.
For me, this means bears have reclaimed the ball, and I will have a bear bias until the upper keltner gets tagged.
Seasonality turns bullish in the coming weeks, so we'll see what happens into year end.

NYMO closed in the lower Turn Zone on Tuesday and has since bounced.
So, we may have a low and be starting a NYMO up cycle. Time will tell.

I am neutral holding short and long.
I hedged yesterday when price hit a low outstanding P-Bar in the afternoon.
The long has a trailing profit stop. I will try to hold the short through a bounce but we'll see what the market brings.

The pullback will be bought.

Swing setup: last sell failed, there's early sign of trend change, dip will be bought. it's a strong move above 5 DMA now.

Intraday: same playbook, you know the routine. it is bullish with a new swing high and bullish reversal candle if we close here or higher.

Bullish reversal, see $BPSPX is also turning blue from red, well, where is yesterday's bar? stockcharts.com data. I am having 3 days weekend, see you next week,Peace!

The pullback this time although larger, probably would be bought again.

Breakdown to confirm lower high. And breakdown is more likely.

ES daily.

Searching for a bottom.

Support at 4300.

ES 60 minutes.

From S1 to the Pivot, and on to R1, where it finds some resistance.

Double bottom breakout. Tinted area is the text book target.

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

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/ ... /533449397