Cobra's Market View

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Let me guess, CPI must be down less than expected even increased? The significant part of CPI is salary which increases at 5% annually, how could the CPI reduces to 2% quickly? Anyway, I'm sure bulls will buy this "dent" right at the open...

ES daily.

PB to the Trendline.

EMA 20 just below.

ES 60 minutes.

Down through R1, through the Pivot, through S1, through S2,

all the way to S3, where it finds some support.

ES 5 minutes.

Sharp move down at 530.

Support at S3.

EMA20 now is the bear's last chance to make a 2nd leg down. Strong breakout here then bears are over again. So far the market still is in buy any dips mode.

ES 5 minutes.

Support level, Pivot S3, holding the day so far, for the bulls.

Bears want more action down. Bulls holding on for dear life.

ES 5 minutes.

No gap fill today.

A "Stun Gun," as one "guru" called it. Gap then flat.

ANF. Abercrombie and Fitch.

Even on a down day, some stocks are swimming upstream, against the current.

I posted this one on here last April.

A down from open to close day has been rare so the current sharp rebound is normal. The key is tomorrow, whether fox the 6th time the day after a big down day is again followed by a big up!

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

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/ ... /533449381