Cobra's Market View

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The key is to see whether the morning up is sold again.

My prediction on this market. more vacations.....LOL

It's a morning hourly filled black bar.

Intraday: new swing high, it is bullish bias until a trade under 38.2%. same playbook....

Bearish piercing candle (look above and failed), loss support at line in the sand, under 38.2% intraday. can't get any more bearish than this.

Too bad, the selling still is there. Testing the Friday's low now, let's see whether bulls are willing to defend here. Overall, this bear shall have legs.

Gap closed.

Fast chart says time to bouce

Slow chart showing lots of targets for thr bounce. VWAP is always a good guess. Lower one is regular session. higher one started with Sunday night open.

Over the weekend I was reminded that I used tuse floor trader pivots. So I started using Lizard Traders again mostly because Harry's code labels the prior day lines. Between the pivots and the two standard deviation line off the regular session VWAP it seems to be nailing the levels today.

Need exceed the pink area without any visible pullback to confirm double bottom.

Fearful market, only the power that be doesn't care, 401k money is pouring in steady, both inside and outside of the US. in my corner, I will lean bearish until the fear subsided.

It looks like th wedge may be broken. We will know later this week. But I do have to say after Alphabets performance I doubt Meta and Microsoft can save the market.

Decision time, once again.

You would think break out or break down, with break down having the edge.