11/10/2016 Live Update

[uempel]

Thanks Al_Dente

'U 'da man boss
As you well know, BP only gives us % participation. When many stocks are not participating in the love fest, it can be a frustrating measure for me.
We’ve seen it so many times before: weak participation, zoom upward nonetheless, then BPs catch up...

Yeah Al_Dente, they are slow and they are not very precise. But in general they give an indication of the direction.

[fehro]

SPX resistance.. RS .. kinda sorta .. if a higher low holds.. and 2150 goes to the downside.. if not 2193.81 ATH

[Al_Dente]

P-Bar SPY down to 216.09

[JFR]

Up and down. Up and down. Active but not too crazy.

Small overnight gap up. Filled quickly.

So far, the world of finance is not collapsing with Trump's victory.

Methinks his more extreme supporters are going to be very disappointed with his not following through on campaign rhetoric. The Wall. Mass deportations. Locking up Hillary. And others.

[Cobra]

pullback probably would be bought.

[Mr. BachNut]

So, another up target got hit today at the SPX 2181.30 gap.
One more gap target above at SPX 2186.16.
After that ATHs and then blue sky.

I was looking for a pullback to test overnight election lows with a positive NYMO divergence to get bullish.
Instead, we are getting notably higher price highs with a mildly negative NYMO divergence.
The price thrust is strong to the breadth thrust.

Perhaps things keep marching along, but two possible scenarios come to mind:
1) price and NYMO pullback/consolidate in the days ahead within this up cycle to set stage for higher highs; or
2) this thing is a faker, and those overnight election lows will get tested when the surge flames out.

Next week is OPEX too.
If this surge hasn't cleaned out all the pre-election hedging, OPEX should finish the job.

So, I think some caution is advisable for swing traders.
I am still flat.

[fehro]

SPX

[Al_Dente]

IWM P-Bar down

[fehro]

SPX 5m.. VIX 15m possible sloppy diamonds.. not marked.. but you can see them = 30 point move SPX = 2.75 VIX

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2016/11 ... ay-update/

[Cobra]

well, guess that's it for today. Friday tomorrow has been bear 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

[uempel]

Checking this 120 min cycle on SPX:

[QED]