01/13/2017 Live Update

[Trades with cats]

Pretzel Logic on his Elliot wave blog posted at the end of the year that we are experiencing the very rare triple zig-zag pattern. He now refers to it as "the Algo zig-zag". His count is that Jan 6 was the B until proven otherwise and the primary count is working on a very complex c to end the ABC pattern.

The other wave counter who actually trades, Coolbizone is essentially in the same camp expecting a lower low before breaking out for new all time highs. But he isn't trading the index today, instead he is taking positions in DXY and Gold.

[fehro]

/CL /CL has a micro H&S on the 60m.. at the RS of 8 week H&S ... careful on oil.. could start a cascade down .. if not minor triangle.

W/D/60m.. those daily /weekly candles not pretty <20d SMA buckle up over the weekend 60m at neckline fwiw.

London open Monday.. so Tuesday "could" be a shocker open.. mind your oils.

[Mr. BachNut]

Here’s the old bb52x “Paper Scissors Rock” chart applied to IWM daily...

I am with you on this Al.
There is, however, something interesting going on under the hood.
While the NYMO I posted earlier has been keeping itself above zero (bullish bias), the equivalent for the R2K has been keeping itself below zero (bearish bias).

Thanks for posting that boss
I’ve never been able to find a stockcharts equivalent for NYMO on the R2k
And their AD line is for SML which is just 600 S&P small caps
Anyone have a symbol on stockcharts for R2k nymo and AD?

I calculated the oscillator myself. Stockcharts probably has AD data.

Here is one last chart before I head out.
The TF contract for the R2K has a pretty clear volume profile on the hourly chart (see horizontal lines).
The "box" is bounded by the red and green lines. The "slop" is above and below, looks like false breakouts to trap folks.
The red line is a legitimate sell for a trip to the green line, but given the range expansion, the risk reward profile is more favorable above the magenta line... if price ever gets there... as long as last week's high holds etc.
So, maybe there is a trade lurking here somewhere. I don't know. Let's see what happens. A close today near the VWAP at 1370 wouldn't surprise.

[Trades with cats]

ES and TF both made lower high now moving toward lower low. Assuming overnight morning run up is a low volume air pocket that will drop markets fast once they move back into it. On the other hand yesterday's highs and the lower Keltner could offer support again like they did a hour and a half ago.

[Al_Dente]

I calculated the oscillator myself. Stockcharts probably has AD data....Here is one last ...

thanks boss

[Trades with cats]

Smalls went through yester high now pausing at the 61.8 fib on the RTH days range.
ES ignored yesterday high but so far bouncing on today's open.

[BullBear52x]

Chart for the road: follow the money, Peace!

[Al_Dente]

HUMOR BREAK
Yesterday during the marathon voting session to take down Obamacare, the senate ordered 100+ pizzas and 200+ wings,
delivered from their local joint: “We, The Pizza” [True story]
Reportedly one delivery guy was tipped “a hundo” for a single delivery. We're told the Senate dropped about $5,000 for the evening's grub.

[Cobra]

maybe the low was in for today.

[Al_Dente]

HAPPY HOUR

cat dobies.png.png (199.07 KiB) Viewed 3043 times

[Cobra]

HAPPY HOUR

The attachment cat dobies.png.png is no longer available

[Cobra]

members only update at 3:33 pm
http://www.cobrasmarketview.com/2017/01 ... ay-update/

[Trades with cats]

ES VWAP at 2270.25. No stats to prove it but it does seem that on rangy down days we almost always reach VWAP for a couple of bars just before the close. For me with such a tight afternoon range that is only 3 points above my volatility line in the sand stop which means not much profit at all, so at least for me it is useless knowledge.

[Cobra]

members only update at 3:52 pm
http://www.cobrasmarketview.com/2017/01 ... ay-update/

[Cobra]

well, guess that's it for today. Tuesday has been very very bull friendly recently, thank you guys, I'll see you in another thread soon.

please don't forget our weekly sentiment poll which will be posted right after the close.

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

[Cobra]

our weekly sentiment poll is here:
viewtopic.php?f=9&t=2326