07/09/2013 Live Update

[Cobra]

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Could be a little overshot after a small 3 push up therefore a little pullback here, which might be 2 legged? But certainly I don't see big pullback here.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2013/07 ... ay-update/

[joegamma]

For later , End of June saw SPY Daily Bar Completely Below BB Bottom (ie: candle body) which Snake history begins here http://stockcharts.com/public/1684859/c ... /241084052;


viewtopic.php?f=11&t=967 More examples in Investor Lounge

Going back to 2008, there were about a dozen examples, 1 never retested the lows, most headed south to retest lows at outside body in 4-7 days, a few did not go back down for 10-13 days, fwiw

[fehro]

SPX 60m

[Cobra]

members only update at 9:56 am
http://www.cobrasmarketview.com/2013/07 ... ay-update/

[joegamma]

these higher prices are not supported by tick, need to see this start trending higher soon or upside may become suspect

[Cobra]

morning hourly black bar again, so next bar should be red? $SPY
http://stockcharts.com/public/1684859/c ... /286407830;

[Me XMan]

Gone shorts for the day SPX +8.

[Cobra]

volume surge, biggest red bar (the bar before), so might see rebound here first which might be sold again, as this should be 2 legged pullback.

[Mr. BachNut]

Somewhat Long. Carrying Longs (R2K) and Shorts (SPX).
I have started reducing short at a loss.
I have a stop underneath yesterday's low for the long.

My summation index signals are up.
My composite trend indicator signal went to neutral after the close yesterday.

The thesis for my short was that the rally was a corrective move in a downtrend and that there would be a revisit to the low without breaking trend.
The thesis was pretty well supported by pretty weak technical internals in my trend signal.
However, price sailed through natural resistance, and my trend signal is reversing.
Unless things tank today, my trend signal should go positive.

My long is per a summation index signal setup.
As the R2K got overbought Friday, the trade is under a tight stop tied to the prior day low.

My gut is that we'll have a nice downdraft sometime in the next week, but per risk mgt. the short has to be reduced and perhaps closed.
I imagine there are also a bunch of stops above the June 18 high that may need to get taken out.

It is unusual for a downtrend with the technical profile we just saw to not pay a visit to the lower Keltner band.
So, I will hold that as unfinished bear business for down the road.
Lastly, given the weak internals I have been seeing, I fear we could get some whipsawing signals ahead, which would be a pain in the arse.

[fehro]

SPX 5m

[BullBear52x]

Top BB + trend line resistance for an early bird

[BullBear52x]

5 min chart on /ES looking to sell LH right about here if 1639 breached, it's good sell me thinks

[uempel]

Strong time signals for today, but so far the response is kind of tepid. Everybody waiting for tomorrow's FOMC minutes? Nobody wants to be caught on the wrong foot

[BullBear52x]

here is where I go evil, hope for lower 1639

[Mr. T]

"We're never going down again!!!"

[Cobra]

volume surge, biggest green bar, so might see pullback here first. but looks like there's no 2nd leg down anymore.

[Omnilayer]

11 AM: A slight negative divergence with a short signal under 163.28 on SPY, but I would really like to see a bigger divergence

[Mr. BachNut]

Just guesswork, but the market seems drawn to the June 19 high.

That was 1649 in the ES future. Now 3.5 points away.
Assuming there is a bolus of stops above, 1652-1655 makes an interesting target.

[fehro]

some lines... turn down at green dotted?... or pop up to green solid? slight divergence on the MacD