Cobra's Market View

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Head and shoulders top (or diamond top) or not, wait and see. Both patterns are more likely continues pattern instead of the name suggested though.

Swing setup: bulls earned a buy dip coupon here. one more buy before the lady sings.

This bear shall have legs.

Asia pacific tried to go up and failed. London tried and failed. Regression channel from the London high is a pretty good fit. Selling was hard enough to touch the 3 sigma deviation line of VWAP.

Talking heads saying Korean market is the canary in the coal mine for every major sell off the last couple of decades. Korean Government announced a new suicide hot line for stock traders. Market dropped twenty percent in 2 days. That has to weigh on Fed governors.

I can hear a pin drop, that's how quiet and careful it is on the market. resistance level is clear, looking down. there's always the third hand, will the Fed save the market today? remain to be seen.

Algo channel is still selling, no end insight.

SPY 15 minutrs.

Down sharply.

Reality imo.

Why is the market down?

Swing setup: new buy new box, make or break.

JFR wrote: ↑Wed Jul 29, 2026 12:54 pm Why is the market down?


Screenshot_20260729_094812.jpg

I use copilot lately, Ai style...https://www.bing.com/search?q=us+market ... 1&hsmssg=0

Ai is good for after the fact, but for the market trading early entry is wrong, later entry is also wrong. stick to TA is best for me.

Strong break of EMA20, maybe the low was in for until 2 pm roller coaster show.

BullBear52x wrote: ↑Wed Jul 29, 2026 1:07 pm

JFR wrote: ↑Wed Jul 29, 2026 12:54 pm Why is the market down?


Screenshot_20260729_094812.jpg

I use copilot lately, Ai style...https://www.bing.com/search?q=us+market ... 1&hsmssg=0

Thanks, BnB.

I subscribe to MarketWatch for details and opinions.

That was a quick Google search.

Google is taking over the world. Ha ha.

Agree re charts. Just play the charts. Sometimes we want to know the Why.

Intraday POC dead on /ES7400.

know where your money is...I can smell volatility.

Pivot point atm.

Looks like the market wants to go up. I don't think it'd be a double top here.

This bull shall have legs.

The FOMC day tends to close weak but this is a little too much. For now still think the pullback would be bought, the question whether it'd be a higher high or a lower high.