Cook Investments
@CookInvestments
Market Analysis and Views Utilizing Mark D. Cook's style: 1992 U.S. Investment Champion, International Speaker & Stock Market Wizard. Father. Friend
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Bulls have shown they can still hold when needed. Now need to show they can push before news later in the week. Need a close above 3760-65 to build more confidence in the market. Bears may hit the sidelines until Thurs/Fri unless they can pressure this PM #ES_F #DayTrading $ES
Market's acting like a falling knife but Friday's spike low shows the bulls have some life in them, need to show it early this week. GDP and PCE reports will cast a shadow the closer we get. Bulls need back above 3734-41 to begin building Bears want June lows #ES_F #DayTrading
Something to keep an eye on is the 3652-57 area. That was the low for Jan '21 and Feb '21. Encompassing everything for that year would be a major weakness for the bulls and put more fear in the market. They should try to make a stand there if we see it #ES_F #DayTrading $ES
The overnight selloff shows the world isn't buying this "Soft Landing" we keep hearing about. Bulls now need to be deliberate in their pushes. If they cannot work back into the 3760-80 channel today then the slide down may be aggressive #ES_F #DayTrading $ES
The market is on edge with whether the Fed does a 75 or 50bp hike tomorrow. If they go with 75bp we may see everything from 2021 erased with a close below the open for that year. Bulls need to show they can push again with a close above 3807.50 today or tomorrow #ES_F #DayTrading
The bulls have gained a considerable amount of ground to end May but June will be a different animal with the next rate hike. Bulls need to keep building and get through 4200-13 soon or they may stall out again. Bears need to register a lower low on daily #ES_F $ES #DayTrading
The FOMC Minutes could make or break this market to end May. Fed maintaining course/lessening and the bulls should be able to push considerably. More aggressive policy discussed and the Bear Market Threshold may get tested again. Watch 3854-58 & 4048-51 #ES_F $ES #DayTrading
This is another big week for the bulls. After avoiding a close below the Bear Threshold they need to keep the push on with FOMC Min this week. Another fail and test of that area could still break the market open. Watch 4000-05 leading into the minutes #ES_F $ES #DayTrading
The bulls will have to be on their A game after the bell to avoid another testing of the 20 percent threshold. The more times it is tested the more likely and drastic it will be broken. Mar '21 opened at 3817 this should be a target for the bears to end the week #ES_F #DayTrading
The bulls had a good response Friday after testing the 20% area Thursday. They cannot stall out now. A One Day Wonder in this area could have the bears blowing through the 20% quickly. Bulls need to close above the 4056-65 area soon to keep building #ES_F $ES #DayTrading
We are on a collision course with the 20 percent threshold (3846-47) to confirm a bear market. The bulls have not found any help with inflation reports nor other outside factors. Until they can stabilize this market the bounces will be short lived #ES_F $ES #DayTrading
We are less than 3 weeks away from our next "Intro to the Cook Style" Webinar (Tues May 31st). Feel free to message here or visit pathwaytotrading.com/webinars for more info. In this type of market it's best to have a plan and stick to it! #ES_F $ES #DayTrading
"It doesn't matter where it goes, it matters where we close" -MDC. Bulls need to try and save face here this afternoon after that big rejection or the bears may try and shift this market back below the box range #ES_F $ES #DayTrading
With the 15 percent threshold touched yesterday and the spike down day locked in the bulls need to try and run this market. Last FOMC week we saw ~280pts from the Meeting start to end of the week. Bulls need to match or expand otherwise 👎 we go #ES_F $ES #DayTrading
This is a big week for the bulls. If they cannot turn this around after the meeting concludes then we may see the 15 percent threshold below. The first test will be the low from 2/24. Failing to hold that could cause a tailspin #ES_F $ES #DayTrading
The Bulls have managed to hold on and put themselves in a position to close above 4250. If the GDP report gives them another hurdle then the 4177-80 price area will need to be held to keep the building pattern, Otherwise we may see a similar dive like before the last hike #ES_F
The shift back into this 4150-4250 price channel has put the pressure on the bulls. If they cannot keep it together prior to the PCE Price Index they may lose their chance until after the hike. Any rallies need to be ironclad or the bears will punish #ES_F $ES #DayTrading
The 4355.50 low was untouched overnight. Now the bulls need to have a good response or that low will go out. Closing another week in the red will sap any confidence this market had earlier this week. A close back above 4444 would help, 4460 would look better #ES_F $ES #DayTrading
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