12/17/2014 Live Update

[fehro]

RUT over 20d SMA

[Daniel]

SPXEW, which Cobra da so kindly updates on his Yong Pan intraday chart, has broken above yest. HI, while SPY still struggles to do so. Equal weight index RS over basic index is bullish.

[cletus]

CLETUS LIKEY

First major accumulation day in over 1 year! (16:1, huuuuge breadth)

VXN closes red on a wide range bar! (Need another down bar tomorrow to confirm)

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2014/12 ... ay-update/

[Cobra]

well, guess that's it for today. Thursday tomorrow has been very very bull friendly. thank you guys, I'll see you tomorrow.

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

[DellGriffith]

Now, this could be the day that breaks the downtrend line. So wave A ends today? Then we'd need to set a new low before looking for a bottom.

[fehro]

VIX daily

[Daniel]

NYSE advancers 2780 fresh hod.

[DellGriffith]

I see people comparing what is going on now to August 2011. From my view, the structure today is different than it was back then. The 2011 correction actually started in early July. We had an initial wave A down for much of July, then a bounce to a lower high, then the waterfall event down to the lows. That was your ABC pattern. We don't have that today. Today ended wave A down and we have started on wave B up. It could just be one day, but we still need at least a wave C down before this is over.

[nysefloortrader]

there are lots of inexperienced in here, and other forums, claiming that this is the top again.

What you must look is the VIX, and the PMO and sources that are reliable. Us here down on the floor
believe that santa just got dressed in his suit, and winking at the bears, and wishing them luck.

Its not what we think its what the CHARTS are saying!

If you keep losing money in this market, I ask you, to ask yourself, say...."self are we in a bull market or bear market?"

its not about the answer, its what you do with the answer, that can make you HUGE amounts of money next year!

As of this current market action :-- Its all about the VIX here, go back 3 or so years on the VIX, and see what it has been doing!
trade off that, and you will do well.

Happy trading.

[DellGriffith]

there are lots of inexperienced in here, and other forums, claiming that this is the top again.

What you must look is the VIX, and the PMO and sources that are reliable. Us here down on the floor
believe that santa just got dressed in his suit, and winking at the bears, and wishing them luck.

Its not what we think its what the CHARTS are saying!

If you keep losing money in this market, I ask you, to ask yourself, say...."self are we in a bull market or bear market?"

its not about the answer, its what you do with the answer, that can make you HUGE amounts of money next year!

As of this current market action :-- Its all about the VIX here, go back 3 or so years on the VIX, and see what it has been doing!
trade off that, and you will do well.

Happy trading.

I don't see this as a top. I won't call a top until we get an inverted yield curve. I see this as a correction.