06/20/2013 Live Update

[Me XMan]

Who stuck the fork in this pig?

[Cobra]

what a back to back major distribution day means: http://www.cobrasmarketview.com/2013/06 ... ay-update/

[Unique]

APPL...make or break time, see my previous post....5 waves down gives a potential scenario seen here: viewtopic.php?f=2&t=950&start=60#p133114

Now, if it breaks this level we could have the potential to see a lower low...5th wave? that's impulsive to the downside... that could mean a rebound and another leg down...

Big money, 420->400->385->?

viewtopic.php?f=2&t=950&start=60#p133117

[Cobra]

first target met.

[TraderGirl]

Now, no pos d on RSI on 5 minute...maybe not done...

Like I said, not done...coming down to test the breakout of 2000 & 2007 highs...can count 5 waves for wave v of 1 or C....

[jademann]

power hour

[gappy]

4 hour chart.

spya.png

[Cobra]

volume surge, so hopefully a rebound here first which probably would be sold.

[Al_Dente]

VIX UP 23%

[MrMiyagi]

!!!!!!!!!! POWER HOUR !!!!!!!!!!

[joegamma]

power hour

[KeiZai]

ES: first time below weekly MA13 this year, on daily we have a cross 13/34 first time since mid october 2012 FWIW

The Washington will come out with new deal don't worry

Houston, we got a problem here, over....https://www.youtube.com/watch?v=ajCYQL8ouqw

Haha they are late now we are going for these two "open" bars imo others in the chop were all met those are the only open ones

smalls

[Unique]

Bulls or Bears, either side counter trend is no easy entry. well still way oversold however I look at it. dead cat bounce that's all I am asking for.

Careful if they embed the oversoldness signal then next Major support area is 1575-1578, which is the 100DMA

ES Update, both ES and SPY are at Extreme Oversold signals on hourly now. Price no reversal yet still. Major support 1575-1578, patience pays well.

SPY filled the 5/2 gap now.

Almost time to back up the truck Please Mr.Market

[surrogate]

power hour

[TraderGirl]

Key area...testing breakout of 2000 & 2007 highs...now might find support temporarily....but failed breakout??

Edit: RSI not in an oversold area yet...

[surrogate]

pbar on interactive brokers? anyone else see it?

[Cobra]

mini rebound target.

[MrMiyagi]

[Denali92]

what a back to back major distribution day means: http://www.cobrasmarketview.com/2013/06 ... ay-update/

Some perspective OB Big THURSDAY down days during opex - it would be interesting to see if any of those cases are in opex.

Today is not the LARGEST Day before opex correction since Jan 2007, but it is in the Top 6.

What happened next:
Nov 2008: Minus 60 pts – MAJOR BOTTOM on opex Day – 11 pts below Thursday close - we had been selling off for quite some time. Opex Day was +40pts
Aug 2011: Minus 52 pts – Major Bottom on the Monday After – 21 pts below Thursday close. Opex day was -18pts
May 2010: - 42 pts – Major Bottom on Tuesday after 32 pts below Thursday close (though there was a BIG Friday to Monday bounce!) Opex Day was +16pts
Mar 2008: Had already bottomed on the Monday before, but we fell 36pts on Thursday before (Opex day was +18pts
Jan 2008: Fell 35 pts and bottomed post holiday on the Tuesday after 74pts below the Thursday close. Opex day was -14pts

Just to note – as we did top on Tuesday, in November 2007 we topped on the Wednesday of opex week. We fell 23pts on the Thursday and did not bottom till 12 days and 87 pts after the Wed of opex week top.

-D

[TraderGirl]

It's there... 5 waves down means a rebound of some kind...