Cobra's Market View

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A little lower low but still could be a double bottom therefore hard to say whether the rebound now means the low was in.

ES daily.

Slipping down out of the range, beneath the EMA 20.

Just above the 4300 support level.

ES 60 minutes.

Down and down.

And now a little push up towards the Pivot.

Above the EMA 20.

ES 5 minutes.

Finding some resistance at 4353.

It's a morning hourly filled black bar

Been in this channel the last 3 days....

Let me try to call on the bear side which usually won't be right: Bias is down, unlikely it's a double bottom (green arrows) here.

High yield hasn't been helping the bulls....

J. Powell speaks sometime today, market is probably waiting on that...

Powell at noon eastern at an economic forum, I think the club in New York where he speaks every year.

It is his job to reverse the market!

Trades w 2 Cats wrote: ↑Thu Oct 19, 2023 11:20 am Powell at noon eastern at an economic forum, I think the club in New York where he speaks every year.

It is his job to reverse the market!

Totally agree! LOL!

Riding that lower rail down today...

Should have followed Cobra's advice and bought a put!! LOL!

te_fern wrote: ↑Thu Oct 19, 2023 11:27 am Should have followed Cobra's advice and bought a put!! LOL!

No comments, still waiting for the dust to clear. Maybe a rebound here first.

Swing setup: last sell was a success, will see how many more sell the rips to be had. stick to what works. rip will be sold.

Intraday: weakness to continue, another swing low today. (/ES may settle around 4309 today)

Overall momentum and internals are now confirming the follow through to the bearish side. Peace!