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12/08/2023 Live Update

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Cobra
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12/08/2023 Live Update

Post by Cobra »

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Let me guess the job data is good so the market initially down then on 2nd thought maybe not that good so rate cut is still possible the next year so up again...

Anyway, stuck in a range, maybe it's a triangle which means bias is a little bit up as triangle usually is a continuation pattern.
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JFR
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Re: 12/08/2023 Live Update

Post by JFR »

ES daily.

Day 15 in the very wide trading range, at the top of a long move up, in November.

The EMA 20 has moved up to just beneath today's candle, which is a doji.

2023-12-08_06-01-05.png
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JFR
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Re: 12/08/2023 Live Update

Post by JFR »

ES 60 minutes.

The roller coaster continues.

A scary spike last hour.

2023-12-08_06-11-39.png
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JFR
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Re: 12/08/2023 Live Update

Post by JFR »

In a range from 4580 to 4594 for 6 hours.

Just above the Pivot, as support.

Testing down to the Pivot.

Needs a breakout.

2023-12-08_06-15-17.png
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Cobra
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Re: 12/08/2023 Live Update

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Re: 12/08/2023 Live Update

Post by Cobra »

So far looks like a strong uptrend day.
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Re: 12/08/2023 Live Update

Post by Cobra »

This kind of sudden pullback happened frequently recently, something different than the "past" is cooking. So now looks like another boring day.
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Re: 12/08/2023 Live Update

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Re: 12/08/2023 Live Update

Post by Cobra »

Not sure whether the rebound means the low was in or not.
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BullBear52x
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Re: 12/08/2023 Live Update

Post by BullBear52x »

Swing setup: New HH, last buy the dips was a success, Money management side of thing, take half and let the other half run. dips will be bought.
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BullBear52x
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Re: 12/08/2023 Live Update

Post by BullBear52x »

Intraday: there's overhead ceiling, not as bullish until it's clear break out and run up, new swing high, it is bullish bias, find excuse to buy above 61.8% new day same rules.
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Re: 12/08/2023 Live Update

Post by BullBear52x »

Internals: not as bullish, A/D issues are negative, and $TRIN is under 1, so, this is a mixed signals. confusing market, so do I. stick to the system method that works, whatever that may be. Peace!
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Cobra
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Re: 12/08/2023 Live Update

Post by Cobra »

Testing the day high, I don't think it'd be double top here. Maybe a little pullback if bears are lucky but likely the pullback would be bought.
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Re: 12/08/2023 Live Update

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Re: 12/08/2023 Live Update

Post by Cobra »

Breakout is more likely now.
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Re: 12/08/2023 Live Update

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Re: 12/08/2023 Live Update

Post by Cobra »

Well, guess that's it for today. Here's what Monday looks likely: https://stockcharts.com/public/1684859/ ... /533449377

Thank you guys, I'll see you in another thread soon.

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