Cobra's Market View

Up 2 weeks in a row, the next week has 54% chances to close up, 75% chances to make a higher high.

So more up.

SPY daily.

It is not going south. It is not going north.

IMO it does want to go north, but, understandably, there is much resistance.

It moved up 1% today.

Some details that I watch ...

Price moved up since April, but has been flat since May 12.

Sto and MACD are flat, and of no use at this time.

Volume is flat, and even down a bit today.

The EMAs 20, 50 and 100 are up, and in the correct order, but are also mostly flat.

Huge resistance is building up, as seen in the Volume by Price on the left axis.

The "Bollinger River," my term ha ha, is up and then flat.

So, no progress, buy my bias is up and up. And of course that can change in a flash.

Mostly day trading and scalping at this time for this trader.

Have a good weekend.

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

Thank you, Cobra and the board.

The following article might be of interest to some readers:

https://www.marketwatch.com/story/a-pro ... y-f54d583a

A professor testing ChatGPT’s, DeepSeek’s and Grok’s stock-picking skills
Published: June 7, 2025

BlackRock Inc., American Tower Corp., were the two picks by all three Ai models tested.