07/09/2012 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks!

If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday: http://stockcharts.com/public/1684859, thanks!


Flat open, so any gap will be filled.

The Global ES may have formed a small double bottom so hopefully a rebound of some kind here, otherwise it'd be really bad news because break down would be a Bear Flag or at least a Symmetrical Triangle.

[coralla]

Cobra, does the stockcharts vote number shrink every day? I vote your charts everyday, but I think it is not increasing!

[ronrico]

Nobody cares about the lowly grains only up near limit in corn today.

[SWalsh]

FWIW T-Theory had 23 days between bars and hit IWM on Friday amd is back in the channel with a stoch cross on the daily and a touch of the neckline. So I would think by Friday we will move away from this level. Not sure da boyz are out of money yet:

[SWalsh]

The Global ES may have formed a small double bottom so hopefully a rebound of some kind here

Great plan, Cobra....let the blog bots think your bullish when you're not (that was a joke, btw)

[Cobra]

the open.

[Cobra]

Cobra, does the stockcharts vote number shrink every day? I vote your charts everyday, but I think it is not increasing!

The votes get expired every month, so you have to keep voting, that's the game. Sorry about that.

[ClarkW]

High Yields look ready to go down in my opinion. Trying SJB for the first time (NOT A RECOMMENDATION). Slow mover for most on here....
JNK Daily: ChiOsc highest in four years, trendline providing resistance.
[EDIT: HYG looks the same, ChiOsc highest in 4 years...]

[shaca]

Will IBM bounce one more time from the MA 50 as it has always done in the past? i dont think so.. this time is different imo.
189 is a key trendline level to watch.

[Cobra]

bouncing from support.

[TraderGirl]

We got the wave lower I was looking for last week on FAS... could use a little lower, but we will see if we retest....

[Cobra]

Friday's low, key time.

[TraderGirl]

A break below that trend line support on NUGT doesn't look too bullish...

[CognitiveDissonance]

Not getting super excited about the VIX yet. That might be a good contra indicator for the pro traders out there

[TraderGirl]

I use TMF for treasuries....break above resistance today...

[Cobra]

RSP and IWM already lower low, so this means the heavy weighted stocks are holding the index, generally not good.

[uempel]

I posted this chart yesterday on Cobra's blog - main point of interest now is the center line at 1348. A break of 1348 (without a rally into the close) would signal further weakness this week

[heavenskrow]

vix

[Cobra]

this is at least 2 legged pullback, so GENERALLY the 1st rebound shall fail.

[ClarkW]

Interesting chart on http://blog.kimblechartingsolutions.com/ regarding $SSEC