Cobra's Market View

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Bull flag, so bias is up.

ES daily.

Up off support, to near the high of March 21.

Well above the EMA 20.

Hard to suppress the bulls.

ES 60 minutes.

In a range for over 15 hours.

One failed breakout attempt.

But up from Wednesday's action around S1.

ES 5 minutes.

Chop. Chop. Chop.

Seems like a house of cards. Vulnerable.

But the money wants a place to park itself.

The indexes are in the green, but right on the edge. Green-red-green, etc.

https://www.marketwatch.com/

End of month window dressing, entering sell the rip zone on a swing setup.

Something to think about when you are on the ship heading to the Key bridge with good GDP Unemployment based on TA, we are still heading to a recession, see 2007-2008 slow moving container ship, 2020 pandemic was an abrupt situation, and now with a slow moving ship. it's long term thing but no fixed per TA point of view. another wave of unemployment hit the market, Dell announced 6000 layoffs this week.

Job per National debt clock. same number of work force since 2000, who pay the tax for all this Trillions of government spending, I wondered. FA is no fun, Only price pays (TA)

Failed at the very first attempt to make a new high which is normal, if bulls are able to try again touch the blue line then breakout would be more likely.

NVDA, 2x top? back inside No man's land, consolidation phase.

Swing setup: sell triggered today, new box, make or break. Intraday: new swing high, bullish bias, today is transitional day between swing and day trade. be nimble. Internals: bullish bias atm. trade well, Peace!

Valid breakout finally, bias is up.

For the long weekend. Seems like everybody agrees we are in a wave five up. Thats where the agreement stops. Some thinking we will take off for another 600 points this spring and summer, others thinking this next little wave up will complete a long sequence culminating in the B wave up from the Covid lows, so a 20 to 30 percent huge selloff this spring and summer.

Everybody enjoy the long weekend. I am gone for a month, you can catch me at the eclipse in Texas!

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

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/ ... /533449377