If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.
Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.
Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.
Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.
I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.
Symmetrical Triangle, so the bias is up but it also could mean it'd be the last push up (before a sizable pullback).
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
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.
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....
Last edited by uempel on Wed Oct 16, 2013 9:54 am, edited 3 times in total.
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.
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.