Cobra's Market View

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Range or a rising wedge that still has lots of rooms to grow so basically no clear direction, probably waiting for the roller coaster show on 31. The market is pretending to wait since they've already decided for the Fed that they must cut rate in Mar...

ES daily.

Moving through levels of resistance.

Four day trading range at the top.

Hella move up since November.

ES 60 minutes.

Chopping along.

No progress.

All over the Pivot for many hours.

ES 5 minutes.

Choppy. Level to level, in the ranges.

Possible 3 push up (red arrows), so if the current 3rd push up cannot make a decisive new higher high then it'd be the bear's turn next.

So it's 3 push up indeed which normally would have a 4th push up to make a lower low (if higher low then there'd be a 5th push up) then finally a real pullback.

ES 5 minutes.

Moving on up.

Can't keep the bulls down.

Not yet anyway. Eventually they will be another sizeable pullback.

The push up still was strong so likely there'd be another push up before a pullback can be possible (if enough time though).

Must be "rate cut coming Wednesday" thing. Anyway, this bull shall have legs.

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

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/ ... /533449374