12/06/2016 Live Update

[BullBear52x]

SPX a retest on the top this time is not 2x top it's now a third time charm move.

[te_fern]

[quote="Al_Dente"]Stopped out, too soon

Al, what are you looking for to get back into the trade?

[te_fern]

I'm out, thank you for your guidance!

[Al_Dente]

HAPPY HOUR

[Trades with cats]

It is what it is.

[Al_Dente]

Al, what are you looking for to get back into the trade?

tomorrow
bye bye

[te_fern]

tomorrow
bye bye [/quote]

Have a good evening!!

[Trades with cats]

This game of forcing the market higher by squeezing the high beta stocks has worked well for several years. However right in line with long term borrowing for buybacks you should know intuitively that some how and some where this will end very very badly. In fact the legend of Merrill Lynch Bob Farrell had a couple of things to say about thinly supported over bought markets in his 10 rules. Yes I am very aware that I am just howling into the wind and today is not the day that the house of cards falls, but fall it will.

[Trades with cats]

And the closing hour sell down begins.

[Cobra]

HAPPY HOUR

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[BullBear52x]

Too late but another one here.

Clockworks,

[Al_Dente]

Al, what are you looking for to get back into the trade?

tomorrow
bye bye

Here’s what I will be looking for tomorrow
Today was a LUCKY day

[BullBear52x]

Chart for the road: Short term is bullish bias. A breakout with support of positive histogram is credible, it will not surprise me to see an attempt gap up tomorrow. Peace!

[Trades with cats]

Tomorrow we get the Government oil inventory report. If it is normal for this time of year it will show an increase in supply. It will also be a good day to reflect on how through the power of a simple narrative widely re-told by media experts OPEC and the US Shale patch have managed to increase production for the last several months to an oversupplied market while also increasing prices. I want to see how they handle the narrative going forward as those pesky inventory reports help people understand that so far this is all talk.

[te_fern]

Al, what are you looking for to get back into the trade?

tomorrow
bye bye

Here’s what I will be looking for tomorrow
Today was a LUCKY day

126one3.png.png

Gotcha, and if I had followed your indicators initially, it would have been an even nicer day!! LOL! thanks!

[Cobra]

exceeded the mini pullback target, maybe the pullback this time has 2nd small leg.

[Cobra]

members only update at 3:30 pm
http://www.cobrasmarketview.com/2016/12 ... ay-update/

[Cobra]

well, guess that's it for today. Wednesday tomorrow has been generally bull friendly but down 4 of the last 6. 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