Cobra's Market View

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Don't know whether the rebound means the low was in or not. Looks like a reaction to a good news.

First breakout failed. Not sure if OR low at 4176 will hold if this second try at breakout fails.

I don't see support for qqq until 338 and then better at 319. qqq needs 351. Transports are just a falling. amazon tonight, maybe they save, or not.

Revisit the day low, let's see whether bulls can make a double bottom.

Mr Softy hit the ball out of the park with cloud services. Waiting to see if Amazon can match their performance.

This is my newest version of my price action set up. I added comments as to what the lines are. I have been using as much black and white as possible to make my charts unemotional but then I decided red and blue is easier to see. Please note that I am using the so called solar neutral palette. I have liked the Directional Indicator positive and negative components but I find the ADX line useless for price action on a 2,000 tick ES chart.

SPY daily.

All systems bearish.

Target below at 400 in May, and then 380 below that in March (not shown).

ES 60 minutes.

Huge down day Wednesday.

Today is all chop. Especially the last 4 hours.

Look at internals today, we should closed stronger. Intraday bears be nimble today.

ES 60 minutes.

Strong push down in the last hour.

Down beneath 4170.

Well down beneath the EMA 20.

This is counter trend kind of hope, but if I short the market, short term I will give a respect to any over sold with positive divergence. just a head up for the Penny maters traders.

ES 5 minutes.

Finding an anchor of support at 4155, just above S2.

Moving average visit: this is 200MA, ie. MA pointing up see 1 and 3 the dips buyers will fight the fight, so is the rips seller will find excuse to sell at resistance when MA is pointing down see 2. so at this junction only WWIII will take us straight down, but we do have smart FED and Politicians on our side do we?

Diamond hands move, knife catching expert. Haha.

Swing setup: rips will be sold, trend following, so know where your money is....and time frame of a Trade maters, Peace!

SH daily.

The market is down since July-August.

Go to the shorts. SH is an excellent example. The inverse of SPY.

All systems Go.

But trade carefully. This trader focuses on Day Trades at this time.

A little more than last time so some chances the low was in or near as typically there's a revisit of the low before the actual rebound as illustrated by dashed blue lines. p.s. I was outside for lunch, just back. Glad didn't miss anything.

The pullback probably will be bought. For a moment I even thought there'd be no pullback anymore until the moon.