Cobra's Market View

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Usually a pullback won't last long, let's see whether this time is different.

It's a morning hourly hollow red

JHEQX is rolling their quarterly collar, The calls they are short are at SPX 5750. That is 40,000 contracts. They will be going out three months and 5% higher.Similar on the put spread that is the other half. So a big reduction in dealer gamma giving us increased volatility as earnings season begins. Don't forget the largest buyer this year (corporate buy backs) is in earnings season blackout.

Powell speaks at 1:55 Eastern. So be ready for volatility, or not.

Problem @ 38.2%

ES daily.

Price is slipping back a little bit.

At this time it is a pause, not a pullback.

In a trading range.

Well above the EMA 20.

Lots and lots of heavy lifting needed to get a breakout.

ES 60 minutes.

Down from the Pivot, and back up to the Pivot.

No progress, neither up nor down.

The stock indexes are relatively quiet and mixed in their results, to this point.

S&P up. Dow down. Nasdaq up. Russell up.

Back later. Have a good day.

Need break the pink area in order to mean something, otherwise simply the pullback got weaker and weaker.

Swing setup: no change. in the box going nowhere.Peace!

Bonus chart: no fear no bears, there is bear today, fearful market is kicking back in again, buyers beware!

Powell said something something market tanked, he shut up, market bounced. Wait to see real direction.

Maybe bears were over.

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