05/29/2013 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. 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.

• Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

• Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

• Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.

• I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.

========================================================================================================================================================================

Key time, since this is the 3rd test of the pullback low, so if bulls are able to make a higher low then bears are over. That said now bears control the ball and are attacking. 100% Measured Move target at 1619.75. In order to declare victory bears need do far more than 1619.75 though.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2013/05 ... ay-update/

[SigmaEcho]

ES hasn't traded below 60m EMA377 since april 23rd and has not touched it since.
Bounced up from EMA377 last thursday, friday and just now at 1641.75
Need to break it to get something started

[uempel]

End of month diamond...

[Cobra]

mm target.

[Cobra]

members only update at 10:04 am
http://www.cobrasmarketview.com/2013/05 ... ay-update/

[stlwater]

End of month diamond...

The attachment SPX.png is no longer available

The idea that we should hold here fits with my RSI trendline theory... That being that we make a monthly touch (by holding at these levels) then see a reaction... Will it be a "3rd times a charm" scenario, or a kiss goodbye? Clearly the monthly RSI is showing a divergence at this point. We are more than a bit extended. I think we shall see at least a correction or significant pull back here. I think it is interesting that all the shorter term divergences, over-bought conditions, and other sell signals in the daily TFs have been ignored by the market. In my experience there is usually a large target (prize) that is the end goal so backing out to longer term TFs is the next step... That brings us to the monthly RSI.. the last significant piece of TA left to look at.

[Mr. BachNut]

Partial short from last week still on.
Looked doomed yesterday morning but doing OK now.
All my extended time horizon bear signals have failed this year so expectations remain low for this trade.

My summation index signal is down for the S&P and neutral for the Russell 2000.
My composite trend signal is up.

Bottom line is my signals are mixed. It remains unclear if the trend is starting to change or not.

[uempel]

Diamond update:

[Al_Dente]

low EWJ

[joegamma]

doubletop + divergence on 30min and 1hr renko r2k hints to more down, (sorry can't load charts now)but

rough N vs N says bears need to do more today or upside consolidation comes next, hope iwm gets down toward 9780 for a buy maybe

[Al_Dente]

SRS breakout at double top

[Cobra]

2nd test of the day low, key time. wait.

[Cobra]

target met. I need see more bars.

[Mr. BachNut]

For education and reflection. FYI

Typically, when the McClellan Oscillator makes a bottom, the SPX will trade a level that is below where it was trading when the oscillator made its prior top.
Technically, this makes sense and would seem obvious.
What has been remarkable (extraordinary really) about this year's bull run is how the market has set lows at oscillator bottoms above or close to the highs at prior oscillator tops.

I have marked oscillator bottoms in 2013 at 1 and 2 on the chart. The index highs and lows have been connected on the dates of the Oscillator tops and bottoms.
Oscillator bottom 3 is getting set now, but look how well the index has been holding up.

[Cobra]

possible targets next.

[TWT]

$SPX: Moment of truth for the Triangle option

[joegamma]

Diamond update:

SPX1.png

nice chart, took some profit on some puts, looking for a level to buy and see a retest of your lower line....bot some tlt calls just for fun (in case we plunge, or some jpn bank fails, etc...)

[joegamma]

bigger picture seems downtrend may have begun, but need to see some p&f and the $BPs.....intraday, this is beginning to seem extreme, guess $4bln pomo was not enough....i/t supports approach 9740 r2k and 16424sps,
glta!

[joegamma]

Cobra and oldtimers: any intraday extremes (like nydec2700, $tick-1300) that hint at an area to bounce?
was thinking of intraday long at thesee levels BUT (all those that bought before have been quite wrong )
TIA