Cobra's Market View

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For now it looks like a bull flag breakout so maybe bias is up?

A daily trend following of mine is back to bullish, last sell failed. dip will be bought.

If you believe the talking heads this melt up is due to funds playing catch up.

Supporting the talking heads.

out of juice already? algos channel.

Speaking of Algos This is Julie Wade on X this morning looking for subscribers-
That yellow line at 7273.50 is the DYNAMIC ISOMORPHIC VIX ADJUSTED MEAN ON ES. Market Maker algos are going to test this level and use it for support. IF/WHEN it breaks lower, the structural means are between 7243.75 and 7245.75.

I use statistical calcs for my daily ranges and then run ES through VIX statistical daily calcs and isomorphically lay that on top of ES range. It has been working very well. I can see every day that the dealer algos do the same. They think like me.
I use 1 Period and 14 Period ranges.

1 Period = Realized Vol = RVOL
14 Period = Historical Vol = HVOL

Now you know everything. Well, almost. LOL Calcs are proprietary.

The last 3 Sundays the market has gapped down. Can we see 4?

It's Friday, range behavior. Peace!

Possible lower high (red arrow), need decisively break the blue line below to confirm as most bear patterns simply don't work.

SPY 5 minutes.

Bullish more than bearish.

If there is a breath of good news, I expect the market will climb the mountain.

I play the charts, whatever is in the news.

I think the optimistic casino players of the market are driving it.

I think they ignore the economy, the war, Hormuz, the price of oil, and the powder keg of geopolitics.

SPY daily.

On the daily, there is a breakout underway.

For me it needs more proof, a pause/pullback, and a resumption.

Maybe it's a price channel, now targeting the channel lower boundary?

Well, guess that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

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/ ... /533449377