Cobra's Market View

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I see a price channel, now near the channel lower boundary so about to move to the upper boundary? This market is insane.

Watch MA support, LL here we might have a look above and fail situation.

It's a morning hourly filled black bar

SPY 5 minutes.

A zigzag kind of day.

Overall, up a bit.

A little weak, but it will take a lot of selling to turn this around.

This is it, the start of something. Haha...

This bear shall have legs.

First thing first, this dip will be bought, until then.......

It is what it is. let the process plays out. new box, make or break. Peace!

Rebound then another leg down to test the previous low so bear leg has been fulfilled. Now let's see whether bulls can make a double bottom here. I give it 51% chances since so far still can be seen as a range day unless a decisive breakdown here.

Another chance of double bottom. I say 50%.

SPY 5 minutes.

Realty hits.

Overhyped market.

SPY 5 minutes.

The bulls are trying to put in a bottom.

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

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/ ... /533449397