Cobra's Market View

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Higher low or not, wait and see.

Inside day, anything goes....same playbook different day.

Not much action so far. I don't like the range days with outside in trading because the suddenly break out on news or something else unexpected.

Wave count says we are heading down for a bit lower to complete a five wave set. Then assuming better war news next week and good earnings a nice ABC up. The market will tell us if this is right.

We can see bulls were rejected several times at the resistance (blue line). If they can try again, then breakout would be more likely as the more test the less likely the resistance would hold.

Looking like text book trading range with price action centered on VWAP and reversing at 2 standard deviations.

A pivot back into the chop zone?

Looking at the 3x chart (6,000 ticks) today's text book continues. Fourth touch of the opening range high moved on up for a breakout, but it stopped at the overnight high which was also the 3 sigma deviation of VWAP, a level that is usually only touched once or twice a day, if at all. According to the experts that is.

Now testing the yesterday's high. I think this bull shall have legs.

The pullback is too sharp so probably has legs.

Swing setup: new sell new box. make or break.

Bigger picture, line in the sand. weakies weakie.

Fearful market going into the weekend. the oversold conditions are working out its pressure. next week, will tell, I am leaning bearish until this fearful condition subsided. Peace!

Fun and games on a derivative expiration day. Slammed it hard up to yesterday high then drifting back down into the range.

Dropped down to VWAP, gave us a bounce, then on down on it's way to doji land for the daily bar.

If the close is neutral maybe they will try anther launch on Monday. But right now the 401 K crowd will not like what they see when they look at their accounts this weekend.

Will we or won't we bounce for the third time? Bears big chance to set the tone for the weekend!

The rebound so far looks like a bear flag so probably still another leg down.

SPY 15 minutes.

Very active market. Hyperactive.

Volatile. Crazy even. Sharp moves up and down, like someone's moods.

Like some leaders.

Definitely playable, although erratic as hell.