Cobra's Market View

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Possible price channel, now near the channel lower boundary so maybe rebound.

ES daily.

It is still trend up.

Well above the EMA 20 and the trendline.

But it is lower open, high, low and close.

It still has eyes on the top.

And tariffs still put a cloud over everything, like a low-level, constant toothache. Ha ha.

ES 60 minutes.

Up, up and up, and now down.

Rocky start to the week.

Down from R1, through the Pivot, through S1, all the way to S2.

And at S2, it finds some support.

ES 5 minutes.

Just chopping along.

Trading ranges, level to level.

Trying to breakout at the bell.

Dow 30.

Mostly red.

Led downward by AAPL, Dow (holdings) and CVX.

UNH leading the green.

The indexes, ETFs and Futures, are all in red.

ES 5 minutes.

Aiyahh. "To the Moon, Alice."

Those dayum bulls. So greedy. Ha ha.

Scalper country. Ride 'em, Cowboy,

It's a morning hourly hollow red.

Too small to be anything yet. The Fib levels are all saying time to pullback, but market says not yet.

30 minute chart showing the unusual Friday night sell off and Monday dip buy.

Panda Master Wu calling for a return to selling by Wednesday.I have no idea when retail dip buyers will run out of funds, but this could be the one, or not!

The pullback probably will be bought if not already.

ES 5 minutes.

The rocket launch ran out of fuel.

In a run like that, you don't know when it will run out. But if you are in, you just hope you get out in time. I see it as a gamble. And sometimes we do that, right? Ha ha. Target and stop? Maybe. But more like Buy, and keep the finger on the Sell button. A fun game once in a while.

Back later ...

Yes, it does pretty much look like it is over for today.

Possible 3 push up (red arrows) so a pullback might be due soon.

Pretty clear at this point the attraction of 6,000 can not be denied. Market clearly saying Moodies is a nothing.

So found this over the weekend. History of the nation's largest options collar the famous JP Morgan hedged fund.
Month end expiration options. Sell calls buy puts then sell puts at the lower level. Net cost is zero. But the options market makers sweat bullets if market gets close to one of the strikes.

The pullback probably will be bought again, although it could be 2 legged before being bought.

The 2nd leg down as expected, now let's see whether bulls can make a double bottom.