01/05/2024 Live Update

[Cobra]

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No bottom pattern yet, such as double bottom, 3 push down etc, so maybe the selling isn't over yet?

[Trades w 2 Cats]

The lower than hoped for but still within forecasted range for services PMI at 10 Eastern spiked the market up. Fed rate cuts for 2024 went from 135 to 140 basis points.

[Cobra]

Members only update at 10:20 am
http://www.cobrasmarketview.com/2024/01 ... ay-update/

[Trades w 2 Cats]

Well we sure got a second leg up. I added the smoothed On Balance Volume and it sure says no shorts for now.

[Cobra]

50% chances of double top here. Normally I'd say 40% so already bear biased.

[JFR]

SPY daily.

Third day of sideways action.

Riding the EMA 20.

At the bottom of the range it has been in since December 14.

[JFR]

SPY 60 minutes.

Sideways for 3 days.

The market is waiting, and watching each other. Ha ha. Who makes a move, the bulls or the bears?

[Cobra]

Members only update at 12:06 pm
http://www.cobrasmarketview.com/2024/01 ... ay-update/

[JFR]

DOW, IWM, QQQ, SPY.

10 minute charts.

The Four Horsemen of the stock market.

Three up somewhat. One flat.

Back later ...

[BullBear52x]

Swing setup: Last sell was a success. take half and wait for new setup. stop or add on. same money management and a position sizing concepts.

[BullBear52x]

Intraday: started out inside day, now we have a swing low, bearish bias. same playbook.

[BullBear52x]

Internals: bearish bias, for this, the fat lady will sing at close, after it all said and done to say where the buyers/sellers are. Peace!

[BullBear52x]

We are entering daily trend following buy setup, so, Bears need to realized that, there is come2papa bulls waiting down here. GL

[Cobra]

Still some chances of double bottom here, bears need push down more otherwise it'd classic breakdown then (sharp) reversal up.

[BullBear52x]

day trade made simple, if you are a dip buyer, I will wait for HL setup if next dip is too deep, watch out. fun Friday. Peace!

[Cobra]

So far it's a classic breakdown then sharp reversal up. Typically the low was in.

[JFR]

ETFs.

After ups and downs testing, GLD, SPYG, SPYV, and UUP are flat.

DBC, USO up.

IYR, TLT down.

[BullBear52x]

50% chances of double top here. Normally I'd say 40% so already bear biased.

This is why Cobra is dangerous. when he goes bearish. Nice called!

[Trades w 2 Cats]

Early start on weekend comments.
The wave counters I follow are pretty much in agreement that a wave 4 down is either done or close to it. They are looking for a five up to pretty much complete the sequence off the October lows. I am thinking that we need to get through an FOMC meeting and January OpEx before we can get a real feel for things.

[JFR]

CRBG. Financial. Founded in 1957. HQ in Houston, TX.

It has been on a good run. Financial statistics are good, imo.

Just sharing information, not recommending.

Corebridge Financial Inc.
2919 Allen Parkway
Houston, Texas
http://www.corebridgefinanc...
Sector: Financial
Industry: Specialty Finance
Employees: 7,700
DESCRIPTION
Corebridge Financial, Inc. engages in the provision of retirement solutions and insurance products. It operates under the following business segments: Individual Retirement, Group Retirement, Life Insurance, Institutional Markets, and Corporate and Other. The Individual Retirement segment consists of fixed annuities, fixed index annuities, variable annuities, and retail mutual funds. The Group Retirement segment is composed of record-keeping, plan administrative and compliance services, financial planning and advisory solutions offered to employer defined contribution plans and their participants, along with proprietary and non-proprietary annuities, advisory and brokerage products offered outside of plan. The Life insurance segment's primary products include term life and universal life insurance. The Institutional Markets segment offers SVW products, structured settlement, PRT annuities, and corporate-and bank-owned life insurance. The Corporate and Other segment consists of corporate expenses not attributable to other segments, interest expense on financial debt, results of consolidated investment entities, Institutional asset management business, and results of insurance lines ceded to Fortitude. The company was founded in 1957 and is headquartered in Houston, TX.