10/23/2018 Live Update

[Cobra]

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testing previous low, key time.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/10 ... ay-update/

[Cobra]

opens right at the Oct 11 low.

[JFR]

pbar on SPY early in the morning

[JFR]

Overnight gap down on YM, ES and NQ. IWM of course also, about the same.

[QED]

It looks as if the "Millennial History Majors" running Hedge Funds are taking a little heat this morning!

[Trades with cats]

Ready to test the overnight lows

[Al_Dente]

AD on the NY, 5min
Selling is 6x buying
Curiously, the selling volume on the nas is weak (bottom panel)
(be cautious of the AD numbers; stockcharts has been unable to keep them stable in the previous few days)

[brokebybernacke2]

sell signal was good late yesterday.
once below 2700sp,will start looking for bounce levels.

[JFR]

Testing support.

[Cobra]

members only update at 10:10 am
http://www.cobrasmarketview.com/2018/10 ... ay-update/

[brokebybernacke2]

Testing support.

2018-10-23_0706.png

hmm, might be the bounce level. lets see if bulls can wake up

[Mr. BachNut]

Update to 10/11 post:

We are printing lower lows with a positive NYMO divergence.
There is also a VIX divergence (at the moment) with VIX below where it was at the 10/11 price low.
So, I start to stalk a long now and get ready to flip.

All gap targets since the February low have now been closed except for at SPX 2689.86 and SPX 2671.92.
Closing the near gap would break the June low at SPX 2691.99, and I imagine could trigger some capitulation.
The second gap is also around the 2017 year close, which is technically significant.
There is nothing that says these gaps need to be closed, but we are getting close so they may have some magnetism.

Besides the divergence, NYMO is also getting near the turn zone below the thin green line.

We have a nice collection of gap targets above now too.

I don't want to see the rising bottoms line from the February low (about 2644 now) broken.

I am anticipating a long trade this week and will rely on shorter time frame charts to trigger entry.

[JFR]

Testing support.

The attachment 2018-10-23_0706.png is no longer available

hmm, might be the bounce level. lets see if bulls can wake up

Still probing the depths. Back later.

[Daniel]

At about 2pm yest:

Got a good sell signal on IWM

That was an excellent sell signal for any of the majors-- but today the Russell 2k in particular has been showing weakness (in terms of it's internal fresh lows for the day).

[MrMiyagi]

SPY headed for a re-test of the day's low, ONLY BABY JANET CAN SAVE US!!!

NYDEC at 2500. NYMO -65. Trump #LOSING.

[brokebybernacke2]

At about 2pm yest:

Got a good sell signal on IWM

That was an excellent sell signal for any of the majors-- but today the Russell 2k in particular has been showing relative weakness (in terms of it's internal fresh lows for the day).

actually was a confirmation on the xlk breakdown . watch smallies and fins in tandem, as they have been spot on with trend leading...
bulls trying to form bottom as we speak, see if it holds. not much time to watch today, back to cash. later.

[Daniel]

watch smallies and fins in tandem, as they have been spot on with trend leading...

I believe many of the smallcaps in the Index are financials, a fairly large section of the pie chart. Regional banks and such.

[Cobra]

down from here then it's downtrend day. rebound to test ema20 then down, it could be downtrend day. rebound to test ema20, break through strongly then could be range day.

[Al_Dente]

Recall coolbizone’s post from Friday 10/19:
“Expect a 100+ [SPX] points drop from 2797.77 by next week......”
And 10/22 “…….2797.77 is invalidation.”
And 14 hrs ago:
“ES low 2738.25 took out 2740, this bodes well for a move towards 2680-2695 in coming week in SPX”