09/04/2013 Live Update

[Cobra]

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The chart can be either up or down, so I'm neutral. My guess is up then down, just a guess, no reason.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2013/09 ... ay-update/

[gappy]

Hightower morning blurb. GLTA.

gold.PNG

[Out of Bounds]

Shorted this morning at 164.25.

[fehro]

SPX 15m, 5m, .. possible triangle on 5m... keep in mind long term trend line support from Nov 2012 around 1635-36ish SPX 60m

[Daniel-David]

15min bars, SPY 50period and 20period MAs converging around 164.15--20 or thereabouts, area has acted as support so far this AM.

Similarly w several other broad index ETFs, confluence of 20 and 50 acted as support.

[Daniel-David]

IWM and QQQ breaking above their first 15min bars. With $RVX and $VXN hitting fresh LODs, this portends a successful breakout.

[fehro]

SPX 5m ... open interday gap from yesterday.. just below overhead trend line

[Daniel-David]

EEM continues its short term RS advantage-- challenging yesterday's multiday high, as it is the first major ETF so far today to hit its upper 15min timeframe trading band.

[L_T]

BullBear your MU gapped up today and looks pretty good on the daily. Is it time to move above $15?

[uempel]

Next target is that red grid line...

[Cobra]

members only update at 9:58 am
http://www.cobrasmarketview.com/2013/09 ... ay-update/

[Cobra]

this bull may have legs.

[fehro]

SPX 5m Gap fill.. possible trend line resistance

[Daniel-David]

QQQs testing yest high

[rhight]

If we see some serious up volume today, I'm long on weakness.

[daytradingES]

looking for 1648.25

[Out of Bounds]

Shorting more here. Yeah, I'm doing that. 165.15

[uempel]

This was posted in the early morning in Cobra's blog: BPSPX suggested a big move for today and it looks as though it's to the upside

[Mr. BachNut]

Short. No change.

My summation index signal is neutral. A strong rally could turn it up today!
My composite trend indicator signal is down. Flat on the mat as low as it can go.

I have been anticipating a pain trade for the bears before a downtrend continuation but it has not hit yet. Hmmm...
Nor have the bears been able to break the back of the rising bottoms trend from the November low.
Perhaps it is progress for the bears to flag along the trend line rather than tag and V bounce, but that isn't going to make them any honey.

The tone of my summation index model continues to improve and kinda looks like it wants to break upward.
The technicals in my trend model suck, but price is holding up.
Really seems like the market could go either way or both but hasn't made up its mind yet.
My position may work or may not. If my summation signal fires, I could end up with mixed signals and mixed positions.
Funky is the word that comes to mind.