Cobra's Market View

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Possible higher low.

B% dropped below zero yesterday, it's expected to be a good dead cat bounce if not bottom. so, yesterday's LOD is the most important level to put on your chart for short term trade.

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

Slow chart shows nested ones and twos. On paper it is not good, but as has been said need a ne low for it to have meaning.

Same pivot for bulls to have any meaning move from here, under the cloud still.

Fearful market. TOD is in, me thinks, Peace!

Don't ruin our good day. inside no man's land. GLTA

Assume we're in a range bounded by blue lines. Now near the range low therefore a rebound might be due. Sharp down after breaking the range low would be bad. My guess is a classical breakdown then reversal up.

ATR is running at 6 points on this chart. Overnight lows are 70 points away. That is a lot of distance unless volatility picks up. Supposedly wew are in negative gamma so options market makers are likly to pile on in which ever direction the market goes. Time will tell.

SPY 2 minutes.

What goes up ...

Testing range high, if it's really a range then a pullback should be due. I see bulls are strong, maybe it'll break the range.

Now we are four ATR's away from erasing the Fed sell off. Market must think Amazon will be like Microsoft instead of Meta when they report.

MSFT.

Information only.

For this trader the chart does not show what I like.

No longer term trend, although that might happen.

Thus far it is a one day gap up.

But it is a news item that caught my eye.

Its fundamentals look very good to my eye.

And MSFT stock has been good to me in the past.

Yesterday's high is the resistance which may reject bull's first try but probably bulls will try again as so for looks like this bull shall have legs.

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449397