Cobra's Market View

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Very strong overnight rebound, so some chances it's a (slightly) lower low trend reversal pattern (i.e. kind of double bottom, the low was in).

ES daily.

Down beneath key support. Ouch. Ouch.

ES 60 minutes.

3 down days.

Today it bounced up from S1, all the way to the Pivot, where it met some resistance.

ES 5 minutes.

A good day, so far.

Up for 5 hours.

Down to the EMA20, and just below.

pop to 4296.75 and then drop?
(just guessing - not on system

ES Dec

Double bottom? The low was in for today? Not sure.

One of the great things about spending time in national parks, both Canadian and American, is no internet or cell phones. Makes for a serious vacation from the market!

Anyway, the market has chosen what had been the alternate count from three weeks ago. The ABC pattern is looking pretty accurate with a 5, 3, 5 lesser degree wave count. Point being we should be there either now or soon. If we don't get a major bounce into year end then this count has to be replaced with a much more bearish count.

Swing setup: Last sell failed, now we have an early sign of change in trend. dips will be bought from here.

Intraday: inside day, Harami candle formation, it will be a bullish Harami if we can closed above 61.8% any thing lower will have to be not so bullish. in any cases, bulls can breath a little easier today.

The pullback probably will be bought.

Market is very oversold in may internals measurements, we are in a very critical pivot point overall. make or break for both bulls and bears alike. stay nimble until the dust is clear. Peace!

probably a pullback here first which likely would be bought later.

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