Cobra's Market View

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Now we have a good looking double bottom and perhaps is trying to make a clear breakout.

Jail break. Fed or no Fed

The pullback will be bought. And if no sharp pullback in the next couple of bars then it'd be an uptrend day until the 2pm roller coaster show.

Not sure whether the current pullback would be bought again or not as roller coaster show is at 2 pm, maybe the "going nowhere until then" already started.

Today HH marked the end of down trend, HL will be bought from this classical chart pattern. It is what it is.....

Swing setup: last sell failed, next dip will be bought, it's clear and well above 5DMA today. Intraday: New swing high, it is bullish bias. only the FED can mess it up, what is the chance of that? Internals:bullish bias, the deep buyers smelled the bear blood since yesterday. Peace!

Bonus chart; Monthly closed, it must be green, now it makes sense why indices are so bullish overall today, window dressing come to mind.

Market likes what Powell said. I guess. They liked it before he opened his mouth.

ES daily.

Huge marubozu candle.

Breaking above the EMA 20 and the long time support level.

Good one for the bulls. But they have a ways to go to get back to the high of July. And even more heavy lifting to break out above that high.

ES 60 minutes.

Helluva move up.

Through the Pivot, and R1 and R2,

To the Moon, of course.

ES 5 minutes.

Two strong moves up since the open. (And more before that.)

More heavy lifting needed to get back on a bullish track, imo.

But it is all good. The bulls have hope.

Hitting resistance at 5588.

FOMC day usually close weak, today so far is different.

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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/ ... /533449387