Cobra's Market View

Posted: **Fri May 10, 2024 4:44 pm**

Up 3 weeks in a row, the next week has 54% chances to close up, 81% chances to make a higher high.

So more up!

Posted: **Fri May 10, 2024 6:12 pm**

Bias is up.

Eyes on the top.

Candlesticks show marubozus on the way up, and a hammer to start the move.

EMAs 20 50 100 up, and in the correct order.

MACD and its Histogram are up.

Sto is maxed out, and yet to turn down.

Price is pushing the outside of the envelope on the Bollinger.

Economics, news, earnings reports and ratings matter, but for this trader it is mostly in the charts.

Back for now. My enthusiam for posting has waned as I age. But when I post it will always be on Cobra's site.

Thank you Cobra for the culture you create, your management style, patience, tolerance and reliability. As discussed over the years I would have been much faster with the boot for disruptive, annoying posters. Ha ha. But we get there. And we are honored to post here.

Posted: **Fri May 10, 2024 6:22 pm**

Over the weekend, please take a little time to vote for Cobra, thanks: https://stockcharts.com/public/1684859/ ... /533449377

Been traveling, glad to be back! Agree with JFR, Cobra runs a great site!!

Posted: **Fri May 10, 2024 6:42 pm**

WFC. Wells Fargo. Banking.

Founded in 1852. HQ in San Francisco.

I posted this one on here back in February of this year. Still doing well.

Not recommending, just sharing information.

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally.

The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses.

Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services.

The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies.

Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products, and treasury management services.

The company was founded in 1852 and is headquartered in San Francisco, California. -- StockCharts

Posted: **Fri May 10, 2024 8:51 pm**

Thank you, Cobra, JFR, and other members of the forum.
Cobra's StockCharts pages and JFR's chart are well designed.
https://stockcharts.com/public/1684859/tenpp/1

Posted: **Fri May 10, 2024 9:21 pm**

I'm trying to learn how to use Cobra's charts better. I think the following mght suggest a short-term pull back coming.
https://stockcharts.com/public/1684859/tenpp/1
https://stockcharts.com/public/1684859/tenpp/3 0.8.6A PPO MA200

Thanks again, Cobra.

Posted: **Sat May 11, 2024 2:25 pm**

From It is what it is department" 2x top zone, daily trend following is entering sell the rip zone, stick to what you know, your chart is your only friend.

Sell this rip.RSI <70 = sell. bias kills.

Negative price/Volume divergence. stock market of only few.

Swing trade setup, dip will be bought, until the next buy entry will I know the new leg higher will sustain or not for this setup.

Intraday: new swing high, it is bullish bias, but we closed with a negative price action, I would expect a weaker trade into Monday, but then again, intraday signal can change on a dime, Fibo is my friend.

Internals: Friday the bears were roaming, but it is common to see counter trade at double top area, some wish you were in, and some wish you were out

. next week will tell, risk reward ratio is good on bulls or bears position from this level going forward, I have one more sell on the daily sell setup, until then I can go fully bullish on position trade. for now day trade and swing until that locks in. Good luck, did you see northern lights in the lower 48 last night? good luck trading . Peace!

Posted: **Sun May 12, 2024 7:44 am**

Cobra's Market View

05/11/2024 Weekend Update

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