12/27/2012 Live Update

[rc1269]

Around a 7% swing in XIV today. Lot of hope put into this weekend session.

market setting up for a horrible open next Tuesday. the headline about the weekend session was the worst possible thing for the market as it will suck all the shorts out before the weekend - as has clearly already started.

[Daniel-David]

SPY 20day sma ca 141.90-- can it close above?

[Cobra]

members only update at 3:48pm
http://www.cobrasmarketview.com/2012/12 ... ay-update/

[Cobra]

another overshot, so hopefully a pullback of some kind here. a red close would be perfect for bulls.

[Al_Dente]

look at the $VIX daily candle
not yet closed, but BIG shooting star, still outside upper bolinger

[Petsamo]

We don't need to finish higher than this. We're gapping up anyway.
Some big boy saw my spreadsheet when he decided to press the big buy button that kick started Rudolph.

yes, probably had nothing to do with the Boehner headline at the same time

EWZ, EEM, & ILF were trending higher more than an hour before the SPY spike.

Also, how many times has the market gone the other way when good news or bad news came out ?

[Mr. BachNut]

Shorts won't want to hold over the weekend...

[rc1269]

look at the $VIX daily candle
not yet closed, but BIG shooting star, still outside upper bolinger

unfort don't think that has been very accurate in vol upswings in the past. in other words, there have been many times we've had similar "topping" stars on vix daily and it just kept on powering to the upside. just my two cents

[rc1269]

Shorts won't want to hold over the weekend...

that's precisely why they should

[Mr. T]

Shorts won't want to hold over the weekend...

No one will.......

[Cobra]

well, guess that's it for today, looks promising for bulls but I really doubt if those law makers can make any deal before the year end (maybe a temporary deal that simply kick the can down the road). 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

[Cobra]

this is really funny.

[rc1269]

We don't need to finish higher than this. We're gapping up anyway.
Some big boy saw my spreadsheet when he decided to press the big buy button that kick started Rudolph.

yes, probably had nothing to do with the Boehner headline at the same time

EWZ, EEM, & ILF were trending higher more than an hour before the SPY spike.

Also, how many times has the market gone the other way when good news or bad news came out ?

is that a trick question? the answer is... 12. hah i assume you mean, "how many times has the market gone the opposite direction from how you thought the news would be interpreted?"?? well, plenty. but not nearly a fraction as many times as the market goes the same direction as the news would indicate.

all those funds were trending similarly to the SPY,NDX and most other domestic indices and funds one hour prior to the announcement. not tick for tick, but most made their lows around 12:30. sold back off a little to retest then got a nice headline to boost them back up and give a successfull retest of the low. not a mystery. and doubtful it was your spreadsheet either, i'm afraid.

[Petsamo]

Shorts won't want to hold over the weekend...

There's 6.5 more trading hours before the official start of the weekend.

[Cobra]

a perfect red close for bulls. (no typo, it's bulls)

[Petsamo]

We don't need to finish higher than this. We're gapping up anyway.
Some big boy saw my spreadsheet when he decided to press the big buy button that kick started Rudolph.

yes, probably had nothing to do with the Boehner headline at the same time

EWZ, EEM, & ILF were trending higher more than an hour before the SPY spike.

Also, how many times has the market gone the other way when good news or bad news came out ?

is that a trick question? the answer is... 12. hah i assume you mean, "how many times has the market gone the opposite direction from how you thought the news would be interpreted?"?? well, plenty. but not nearly a fraction as many times as the market goes the same direction as the news would indicate.

all those funds were trending similarly to the SPY,NDX and most other domestic indices and funds one hour prior to the announcement. not tick for tick, but most made their lows around 12:30. sold back off a little to retest then got a nice headline to boost them back up and give a successfull retest of the low. not a mystery. and doubtful it was your spreadsheet either, i'm afraid.

You know what's on my spreadsheet ?
I'm glad to be of service.

[rc1269]

We don't need to finish higher than this. We're gapping up anyway.
Some big boy saw my spreadsheet when he decided to press the big buy button that kick started Rudolph.

yes, probably had nothing to do with the Boehner headline at the same time

EWZ, EEM, & ILF were trending higher more than an hour before the SPY spike.

Also, how many times has the market gone the other way when good news or bad news came out ?

is that a trick question? the answer is... 12. hah i assume you mean, "how many times has the market gone the opposite direction from how you thought the news would be interpreted?"?? well, plenty. but not nearly a fraction as many times as the market goes the same direction as the news would indicate.

all those funds were trending similarly to the SPY,NDX and most other domestic indices and funds one hour prior to the announcement. not tick for tick, but most made their lows around 12:30. sold back off a little to retest then got a nice headline to boost them back up and give a successfull retest of the low. not a mystery. and doubtful it was your spreadsheet either, i'm afraid.

You know what's on my spreadsheet ?
I'm glad to be of service.

well, i'm at one of those "big boy" shops you mention, so according to you, yes i do

[Mr. BachNut]

S&P closes almost unchanged for the day.

More fog less clarity ahead.

[Petsamo]

You know what's on my spreadsheet ?
I'm glad to be of service.

well, i'm at one of those "big boy" shops you mention, so according to you, yes i do

Wonderful. If I need to ask a big boy question, I'll remember to ask you. I just need to get by the trust issue whenever you give an opinion.

[BullBear52x]

The SPY charts:

TA with Washington:

TA without Washington, Hmmm....looking the same are they?