Cobra's Market View

Up 1 week, the next week has 55% chances to close up, 77% chances to make a higher high.

So more up.

SPY daily.

Not good, to state the obvious.

Down to the EMA 50.

Next target below is the EMA 100.

There was a bounce 5 days ago. It did not reach the top, as a lower high.

Down to the EMA 100? Could be.

Back all the way to the top? Not likely at this time.

In an extensive trading range? Seems like to me.

What is a fund manager to do? Ha ha. That is why they get paid the big bucks.

Shorter time frame. Longs and shorts (inverse ETFs and some vulnerable stocks), Money markets. Municipal bonds. Dividend stocks. Batten down the hatches for a rough ride.

" It is what it is Department" what is time frame of your trade? keep it simple.

A daily trend following setup: in the buy still, buy until it fails.... Price action, I posted this same chart last week. well,.....it's pretty much a self explanatory here. Swing setup: sell, new box, make or break. Intraday: new swing low, it is bearish bias, a trade below 38.2% will resume the selling. this chart can change on a dime so.....be nimble on the buy side. overall short time is bearish until the new swing high prints. keep it simple and trade well. Peace!

Bonus chart: Bulls are so stingy, all we want is 5-7% correction. SPY

ORI.

Gawd.

Nice stock.

I bought it after a nice run up, on October 6. Ha ha.

''You're too late! You missed the run.'' I had a stop in place, but not a GTC. Yes, very sloppy buy of a very nice stock.

Out of spite or stubbornness, I held it. It came back. I just sold it for a slight profit. Bad time to sell? Nah. I have more reasons to think it is done once again, than otherwise.

Note to self, once again, and others. Don't buy at the top unless you get a little pullback. Hang on stubbornly? That is up to you.

If it makes a good breakout, it could be a good buy.

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