Cobra's Market View

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Lower high or not (red arrow), wait and see.

Momentum, nothing to see for the bears. bullish and overbought, expecting a relief rally pull back. daily RSI(14) for a bigger picture.

Price action, there's a reversal bar, suggesting lightening up on the longs. early bird may sell here with good stop at ATH.

let's trade, inside day, anything goes. above 61.8%, bullish leaning.

Swing setup, this rip will be sold, first thing first. will see, not trigger just yet.

SPY 5 minutes.

Gap and go so far.

So does that mean bull trend day?

Not that simple these days.

But the bias is bullish.

SPY 15 minutes.

Slightly bearish bias.

SPY daily.

On the daily it is flat.

But it is tapping on the ceiling, in an effort to breakout.

Couple of questions that affect the market ...

Is the bockade of Hormuz on? Yes, It would seem so.

Is the cease fire still on? Yes, it has been extended.

Take out a popcorn, make or break. keep it simple.

Reporting on the state of the war, err, the market.

The SnP is flat. USO is up a bit.

Nothing to say, assume it's a range day bounded by blue lines.

The blue zone is 1 standard deviation around VWAP This is pretty much a text book flat chop. But the range is pretty tight for outside in trading. I am going to do yard work!

Turned on distance in ticks and number of bars for Price Action Swing. With an 11 tick ATR it makes it rough to get in and out of a scalp. After all the volatility over the last many months this is a real head scratchier.

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