Cobra's Market View

Up 7 weeks in a row the next week has 60% chances to close up, 90% chances to make a higher high.

So probably more up still.

Higher yields, higher inflation, higher oil, ongoing issues with the Middle East etc … and the Market doesn’t care. SPX gaps down on Friday and likely gets filled on Monday. We continue to see higher, highs and higher lows … until that changes, which may be soon, I’m just looking to buy the dips. Have a great weekend everyone!

SPY daily.

Up, up and up.

Then a pit stop.

After which, the race resumes.

"It is what it is Department" Is the moon trip over? there is no fear to point to but a little relief rally pull back, fresh new swing low, negative price action on Friday. The summation index is point to sideways to down. I am leaning bearish, until 61.8% area to see if there will be a support or not, that's the crystal ball view. Swing setup is on the buy side, new buy new box, make or break. the pivot on the yellow highlight level is clear. this level is critical. keep it simple. Intraday: Negative price action on Friday, da bears will have to push down harder, same playbook, different day. trade well, Peace!

Bonus chart: No fear to call out to, it's lurking, but not so much of roaming the field just yet. Monday will tell.