10/16/2013 Live Update

[uempel]

I had not noticed this: long term SPX ellipse shows the significance of today's high at 1721 - a break higher into the close suggests a new paradigm. Why? If SPX shoots higher the ellipse i.e. previous resistance becomes support. In ellipse terms: If SPX jumps up to 1734 or even higher it won't easily correct below 1721 next week and reenter the ellipse - unless it's a bull trap

345.png

If you make the grey eclipse a lil thinner, it prob already penetrated it, just kidding. BTW. nice looking chart

Wayne, I draw them thin, but then I fatten them so that old men like you can see the ellipses. By the way, I noticed that the new iPhone OS 7 has a feature to make the characters more visible - bold instead of thin. Well that's what I did with that ellipse

thanks for being thoughtful

You're welcome!

[wayne0708]

Don't tell me that was a bear trap

[Daniel-David]

SPY pullback did not even reach Cobra's first, modest target (tinted area); TLT hovering near another fresh HOD; SPY again above VWAP. Bears are reluctant to commit, with risk of a deal completion so near.

[stlwater]

My take: Market up on hopes of defunding or at least delaying Obama-care. When all hope of that is lost, market tanks.

And this makes me laugh!

Well if you took your partisanship and put it aside for a moment you might realize that the only unknown hanging over the market was the funding or delay of Obama-care. A debt deal was going to be struck either way. We certainly weren't going to default. So what "?" remained? The delay or defunding of Obama-care. What else is there?

[MrMiyagi]

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

[Al_Dente]

** WEIRD STUFF ALERT **

“Researchers … threw some lab rats into a maze, stacked one side with rice cakes and the other with Oreos, recorded their reactions to each…”
“We found that the behavior they exhibited was equally as strong for Oreo cookies as it was for cocaine or morphine….”
http://www.washingtontimes.com/news/201 ... cientists/

Huge AAPL 'spaceship' campus is approved
http://www.mercurynews.com/business/ci_ ... us-liftoff

[stlwater]

This market will find support on anything. I swear it just bounced off a smudge on my screen...

[Heck]

My take: Market up on hopes of defunding or at least delaying Obama-care. When all hope of that is lost, market tanks.

And this makes me laugh!

Well if you took your partisanship and put it aside for a moment you might realize that the only unknown hanging over the market was the funding or delay of Obama-care. A debt deal was going to be struck either way. We certainly weren't going to default. So what "?" remained? The delay or defunding of Obama-care. What else is there?

Market sentiment peaked at 11:30 AM EST with 226% EQ opening long calls/puts after 9:50 AM 16:1 opening ETF/Index calls/puts, stocks overvalued and indices undervalued with VIX down -20%

http://www.ise.com/market-data/isee-index/

In any event, ain't over til House votes toward 11th Hour tonight, after Senate this evening, an unConstitutional event like 0Care, since House must originate all revenue bills

[Cobra]

possible double bottom. wait.

[RealMoneyIssues]

This market will find support on anything. I swear it just bounced off a smudge on my screen...

[Cobra]

double bottom target.

[wayne0708]

Horizontal line is support and/or resistance. If indeed it is resistance, VIX will head a lot lower

[Xian]

My take: Market up on hopes of defunding or at least delaying Obama-care. When all hope of that is lost, market tanks.

And this makes me laugh!

Well if you took your partisanship and put it aside for a moment you might realize that the only unknown hanging over the market was the funding or delay of Obama-care. A debt deal was going to be struck either way. We certainly weren't going to default. So what "?" remained? The delay or defunding of Obama-care. What else is there?

Market sentiment peaked at 11:30 AM EST with 226% opening long calls/puts after 9:50 AM 16:1 opening ETF/Index calls/puts, stocks overvalued and indices undervalued with VIX down -20%

http://www.ise.com/market-data/isee-index/

In any event, ain't over til House votes toward 11th Hour tonight, after Senate this afternoon, an unConstitutional event like 0Care, since House must originate all revenue bills

Where do you guys get this stuff?

Oy.

[MrMiyagi]

So... is this deal as good as done in Washington?

[fehro]

SPX 15m.. possible minor H&S, neckline major support.. so not so sure.. otherwise.. green channel.. plus daily SPX

[wayne0708]

IWM new high every other day?

[TWT]

$TLT: Likely kickoff of a wave (C)

[Xian]

So... is this deal as good as done in Washington?

Yep.

[Heck]

My take: Market up on hopes of defunding or at least delaying Obama-care. When all hope of that is lost, market tanks.

And this makes me laugh!

Well if you took your partisanship and put it aside for a moment you might realize that the only unknown hanging over the market was the funding or delay of Obama-care. A debt deal was going to be struck either way. We certainly weren't going to default. So what "?" remained? The delay or defunding of Obama-care. What else is there?

Market sentiment peaked at 11:30 AM EST with 226% opening long calls/puts after 9:50 AM 16:1 opening ETF/Index calls/puts, stocks overvalued and indices undervalued with VIX down -20%

http://www.ise.com/market-data/isee-index/

In any event, ain't over til House votes toward 11th Hour tonight, after Senate this afternoon, an unConstitutional event like 0Care, since House must originate all revenue bills

Where do you guys get this stuff?

Oy.

Personal attack on any board members won't be tolerated.

[Cobra]

members only update at 3:40 pm
http://www.cobrasmarketview.com/2013/10 ... ay-update/