08/26/2013 Live Update

[L_T]

What just happened?

Secretary of State John Kerry says the President will make an informed decision in the coming days. Related to Syria...

http://www.bbc.co.uk/news/world-us-canada-23842867

Really? How this affects stock market? World War III?

Syria has threatened to retaliate against Israel. So, maybe.

No Zerohedge and perma-gold bugs can't have been right all this time!

[Richarab]

How to play this? Get in quick up? Or another leg Down? Or....?

[L_T]

How to play this? Get in quick up? Or another leg Down? Or....?

Richarab I thought you would be all over this one: OIL!

[L_T]

From CNN:

Damascus, Syria (CNN) -- [Breaking news update, posted at 3:06 p.m. ET]

(CNN) -- U.S. Secretary of State John Kerry said Monday that evidence "strongly indicates" that chemical weapons were used in Syria, adding that "we know the Syrian regime maintains custody" of such weapons and has the rockets to use them.

He said President Obama "will be making an informed decision about how to respond" and "believes there must be accountability" for those who use them.

[Heck]

TSLA marked the Top

[Cobra]

members only update at 3:35 pm
http://www.cobrasmarketview.com/2013/08 ... ay-update/

[BullBear52x]

Guys, just another excuse to raise debt ceiling. it show on the chart, raise debt level = raise SPX level. GLTA

[ALdaytrade]

$VIX

Was trading below 50 and 100 ma all day, now above these two.

http://stockcharts.com/h-sc/ui?s=$VIX&p ... 5171381897

[Richarab]

How to play this? Get in quick up? Or another leg Down? Or....?

Richarab I thought you would be all over this one: OIL!

Yes.. Love the black gold.. But what of this s&p pop drop crap.. What in ever does it mean?

[fehro]

I'd be careful with AAPL. I would not be surprised to see a gap break the neckline. Which may cause a 2nd wave of selling.

[seemore]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

Really needs to break up. other wise retest the 50 day?... it's up over 100% from the lows.. (Gold up 30%) that's a pretty huge move in a short period.. mind you any Syria news involving cruise missiles could change all that. Also not being a gold bug what are the seasonal moves usually in gold? summer vs fall? .. Anyhow just another look. That daily candle will probably be a doji, or a gravestone. fwiw.

I'm relying on others for this, but supposedly September is the most bullish month for gold, around 2% gain on average. Remember the huge move down in gold and vdx earlier this year, so I think easier to regain. As for Syria news, I think any negative world event will only help gold, e.g. bad housing data was good for gold last week.

(and thanks Al for the MA info)

and now gold is over $1400 (again, it was last night US time) with GDX starting the follow move.

[Daniel-David]

USO challenging its hod. Crude is concerned about Syria.

[fehro]

Guys, just another excuse to raise debt ceiling. it show on the chart, raise debt level = raise SPX level. GLTA

Until China says.. pay up, and no you are not going to bomb Syria.

[user13]

IF we bomb Syria we are really idots....I just don't get how that is even an option

[fehro]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

Really needs to break up. other wise retest the 50 day?... it's up over 100% from the lows.. (Gold up 30%) that's a pretty huge move in a short period.. mind you any Syria news involving cruise missiles could change all that. Also not being a gold bug what are the seasonal moves usually in gold? summer vs fall? .. Anyhow just another look. That daily candle will probably be a doji, or a gravestone. fwiw.

I'm relying on others for this, but supposedly September is the most bullish month for gold, around 2% gain on average. Remember the huge move down in gold and vdx earlier this year, so I think easier to regain. As for Syria news, I think any negative world event will only help gold, e.g. bad housing data was good for gold last week.

(and thanks Al for the MA info)

and now gold is over $1400 (again, it was last night US time) with GDX starting the follow move.

Just throwing it out there, say there's a big move into US dollars for "safety" gold and oil another move down after this little scare spike? Crazy?.. I still think needs to retest it's lows, or make a higher low. IMHO.

[user13]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

Really needs to break up. other wise retest the 50 day?... it's up over 100% from the lows.. (Gold up 30%) that's a pretty huge move in a short period.. mind you any Syria news involving cruise missiles could change all that. Also not being a gold bug what are the seasonal moves usually in gold? summer vs fall? .. Anyhow just another look. That daily candle will probably be a doji, or a gravestone. fwiw.

I'm relying on others for this, but supposedly September is the most bullish month for gold, around 2% gain on average. Remember the huge move down in gold and vdx earlier this year, so I think easier to regain. As for Syria news, I think any negative world event will only help gold, e.g. bad housing data was good for gold last week.

(and thanks Al for the MA info)

and now gold is over $1400 (again, it was last night US time) with GDX starting the follow move.

Just throwing it out there, say there's a big move into US dollars for "safety" gold and oil another move down after this little scare spike? Crazy?.. I still think needs to retest it's lows, or make a higher low. IMHO.

Yea I have been think that too, but V bottoms seem to be more common lately...

[Cobra]

well, guess that's it for today. overreaction or not, we'll have to wait for tomorrow. statistically tomorrow bulls have a little better chances. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. http://stockcharts.com/public/1684859/tenpp

[wayne0708]

from recent low to today high is 50% swing. Maybe just a small consolidation to 50% retracement then up it goes again. Just throwing it out there as rarely this leg is one legged up. Just saying...

[MrMiyagi]

QQQ

[seemore]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

Really needs to break up. other wise retest the 50 day?... it's up over 100% from the lows.. (Gold up 30%) that's a pretty huge move in a short period.. mind you any Syria news involving cruise missiles could change all that. Also not being a gold bug what are the seasonal moves usually in gold? summer vs fall? .. Anyhow just another look. That daily candle will probably be a doji, or a gravestone. fwiw.

I'm relying on others for this, but supposedly September is the most bullish month for gold, around 2% gain on average. Remember the huge move down in gold and vdx earlier this year, so I think easier to regain. As for Syria news, I think any negative world event will only help gold, e.g. bad housing data was good for gold last week.

(and thanks Al for the MA info)

and now gold is over $1400 (again, it was last night US time) with GDX starting the follow move.

Just throwing it out there, say there's a big move into US dollars for "safety" gold and oil another move down after this little scare spike? Crazy?.. I still think needs to retest it's lows, or make a higher low. IMHO.

could be. I'll see if I can find what happened with prior middle east crisis times. If anyone already knows, please share.....