Cobra's Market View

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Possible double bottom (red arrows).

Intraday; line in the sand is clear, right at 38.2%, I will use it as a pivot point for now.

Note that the blue fill is between one and two standard deviations of the regular hours VWAP. Not always the case that it tracks so tightly.
Methor service free stuff on X this morning saying we are very much in negative gamma with dealer s selling declines and buying rallys which is contributing to the higher volatility. They are saying SPX 7,420 is the line in the sand for the Gamma flip.

BullBears line in the sand returns several R after making a double top with a failed test. Always amazes me how the 21n EMA interacts on the 2,000 tick chart a great deal of the time.

Drop back below VWAP implies chop for now but it could get ugly. Markets don't like price wars!

Bigger picture: bulls got all the reason to bounce up at this level. let it falls to a new swing low from here will be really bad really fast to the next support zone.

Not a good trend for the Bulls.

Finally the free chart got posted. They are saying 7,200 is put support.

Well, looks like a new try is on the work. all the bulls need today is >38.2%. good enough to welcome SPCX tomorrow.

So far it's a range day so nothing to say. Maybe it's a triangle in the making which if indeed would have a slight down bias.

Something happened! Will it be enough for the bulls to flip the script?

Someone said something and apparently the market still buys it.

All attacks on Iran cancelled by Trump.

Stopped (for now) at the top of yesterdays 1 sigma volume area, the top of the value range. So I am guessing the algos are influencing this. Emotional day traders in mass saying uh oh we are at the top of the range just doesn't seem true to me.

Kind of ascending triangle, breakout is more likely.

You kind of known it that it will turn somewhere but don't know when, haha

If you think the SPCX will put the bottom in, then this is bullish going into tomorrow. daily buy signal is not yet trigger. get your powder dry tomorrow. Peace