10/16/2013 Live Update

[Cobra]

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Symmetrical Triangle, so the bias is up but it also could mean it'd be the last push up (before a sizable pullback).

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2013/10 ... ay-update/

[Zane]

this is going to be worse than leman crisis....raise limit is not the way to solve this

[Tutti]

this is going to be worse than leman crisis....raise limit is not the way to solve this

...and yet, somehow, despite this EOTWAWKI scenario, all long trades in my book are up this morning.

Take it easy. Lets see how it plays out before the doom & gloom of CNBC & Bloomberg make its way through the spine. Scared money never wins.

[Zane]

this is going to be worse than leman crisis....raise limit is not the way to solve this

...and yet, somehow, despite this EOTWAWKI scenario, all long trades in my book are up this morning.

Take it easy. Lets see how it plays out before the doom & gloom of CNBC & Bloomberg make its way through the spine. Scared money never wins.

im also in the green~i guess this would be another lifetime chance to becoming rich

[wayne0708]

Bulls are in cruising mode regardless of what is going on in Washington DC. If you are purely a technical person, news should not effect your bias on price action. Well the chart speaks for itself.
Most importantly, if price closes above 1712 by Friday, Bears are toasted one more time and should wait for next short opportunity after new high.

[uempel]

Signal is wrong - drawing not precise

Good signal at 11:00 a.m.

PS: These ellipse time signals indicate a good move - they do not indicate the direction, which can be a reversal or an acceleration. For the direction: pls check systems which show momentum, stochastics, ticks, advance/decline lines....

[wayne0708]

Yellow areas represent overhead space that price can go.

[fehro]

SPX 60m

[fehro]

SPX 5m

[Zane]

daily chart looks like a bull flag to me, holding on to the buy side

[Daniel-David]

Opening weakness in XLI and XHB; strength in the financials and small/mid-caps.

[Mr. BachNut]

Neutral.

My summation index signal is up.
My composite trend signal is up.

I have been traveling this week.
Given fast and furious moves with Washington events, VIX expiration this morning and OPEX later this week, I have been reluctant to put on trades from the road that I can't monitor.
So, I have kept to the sidelines.
Given the signals, I should have some long on, but I am going to take some time to get reacquainted with the tape now that I am back before pulling a trigger.
The elevated VIX and the high SKEW suggest caution in spite of bullish trade near all time highs.

[Tutti]

this is going to be worse than leman crisis....raise limit is not the way to solve this

...and yet, somehow, despite this EOTWAWKI scenario, all long trades in my book are up this morning.

Take it easy. Lets see how it plays out before the doom & gloom of CNBC & Bloomberg make its way through the spine. Scared money never wins.

im also in the green~i guess this would be another lifetime chance to becoming rich

a lifetime in this market is making it to 3:59:59 in the black

[Daniel-David]

Financials surging to fresh HOD, leading the general market higher... always bullish in headline driven markets when they are strong, since they are the most sensitive to twists and turns of news.

[uempel]

I have cancelled the 11:00 a.m. signal - my drawing was not precise

[Zane]

this bull got legs, i dont think the previous high would be a resistance....i think the momentum carries on and going to the 1760s or 80s

[Anaconda]

For those interested, yesterday's pbars to SPY 170.94 have been bulldozed.
A

[fehro]

SPX 60m

[fehro]

XLF weekly. fwiw.