08/26/2015 Live Update

[Al_Dente]

The “Line” style chart filters out the seismic needle moves and prints closing prices only.
Here shown on the HOURLY CLOSE (with 25ma, pink, the rough equivalent of 5ma on the daily).
It’s not a very bullish picture just yet

[daytradingES]

Tent= 713 11:52

[QED]

1554.png

1555.png

1557.png

[marcueus]

Both Wedge (on Es.f) and little triangle on spx points at 1833/4 points - so we are going to retest Monday low on es.f and make new lows on spx

If Market Profile makes any sense in this mess then ES should test overnight low 1850.5 But it is called Market Profile theory. Who knows, after that we could visit your 1833 target

So how do you trade this?
Unless one has a really large amount of risk capital I don't know how to trade ES NQ even YM with any acceptable RR in this slot machine environment. 5pts SL is the minimum to stay in the trade. With the 2 contracts unless you catch one of those rips you are constantly exposed to $500 risk for what reward?
-

Well - I like to play on options as there is the best R/R normaly - but with this market prices it is completly senseless - Vix move option prices to an abstract levels And whats more my play setup was to enter long when SPX reach 2005 points (as there points Large Wedge + Fibo - last time Wedge target down do not hold was during 2008 ) but this market was way to weak - Target from Large triangle is around 1825/30 so we are close to the bottom now + we are going down in a large channel - which will lead consequently to strong move up - so when we will be ale to broke to the upside that channel would be great entry point - today top was exactly on the upper channel line.

BTW - if you want i can post photos about what i am talking about

But for now the best idea is to wait - market makes so many good traiding possibility that it is better to wait for the best possible setup

[Cobra]

3 push down?

[daytradingES]

low forming?

[Shaishen]

BTW - if you want i can post photos about what i am talking about

But for now the best idea is to wait - market makes so many good traiding possibility that it is better to wait for the best possible setup

Thx, appreciate, no need to post pics, I see what you mean.
Guess I should study up on my options knowledge

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[daytradingES]

low 75.50 in low zone

[daytradingES]

Both Wedge (on Es.f) and little triangle on spx points at 1833/4 points - so we are going to retest Monday low on es.f and make new lows on spx

If Market Profile makes any sense in this mess then ES should test overnight low 1850.5 But it is called Market Profile theory. Who knows, after that we could visit your 1833 target

So how do you trade this?
Unless one has a really large amount of risk capital I don't know how to trade ES NQ even YM with any acceptable RR in this slot machine environment. 5pts SL is the minimum to stay in the trade. With the 2 contracts unless you catch one of those rips you are constantly exposed to $500 risk for what reward?
-

perhaps SSO?

[Cobra]

here we go. the bottom call was a little too early but the overall direction is correct. this rebound shall have small legs.

[marcueus]

If this is inded Wedge than Mr Snake it points to 1980

[uempel]

The current correction reminds me of 1998 and 2011. I've posted close ups of 1998, here a close up of 2011: SPX corrected 296 handles. The close up shows how SPX rallied back to the 377 MA after 10 trading days.

This is a close up of 2011

But SPX had to wait approx 6 months before it managed to break MA 377 definitively and move higher.

Long term daily chart shows (so far) a similarity between 2011 and 2015

[BullBear52x]

Bottom could be made here but a regain above 1914.75 is a mandatory for intraday bulls today.

[BullBear52x]

I am leaning more bearish intraday today in comparison to yesterday, the fear is ticking up again today.

[BullBear52x]

need to make pass this kissing point.

[fehro]

SPY 5m. sloppy.. pattern.. take it and targets with a grain of salt..

[JFR]

For what it's worth, a sea of green on the DOW ...

[fehro]

SPX 60m descending wedge still in play. should we reverse here... VIX riding resistance lines

[Heck]

Two/Three ISE Indices BEARISH

https://www.ise.com/market-data/isee-index/

[BullBear52x]

very important juncture for fast hand.

crystal ball.