04/09/2014 Live Update

[L_T]

Sold longs 185.67

Seems kind of range-ish <- not a real word

Agreed. Looks like a range today (so far).

[Out of Bounds]

BOT more SPY 185.12

Nice timing.

Well, if you buy and it drops and you keep doubling down, you are guaranteed to find a bottom.

[L_T]

BOT more SPY 185.12

Nice timing.

Well, if you buy and it drops and you keep doubling down, you are guaranteed to find a bottom.

Hmmm how about nice timing interesting strategy......

[fehro]

SPX 5m.. rising bearish wedge.. possible minor double top.. could evolve into triangle.. a few options.. mind the trend lines / gaps *20d SMA 1862ish

[FlowerGirl]

Team Green Target achieved
Now you see how correct reading of pBARs could a very profitable venture.

This concludes pBAR reading session. The reader will return some time in future

[Mr. BachNut]

Small short. Starter position.

My summation signal is neutral. A solid break of yesterdays lows could turn it down.
My composite trend signal is down.

I honored my trend signal with some short near the highs yesterday.
Will add higher if things don't whipsaw. However, recent history argues whipsaw.

I anticipate some short covering before FOMC minutes are released. Then who knows...

Seems like three probable scenarios to consider:
1) Friday was a high and a downtrend is beginning. Yesterday's lows will be broken eventually with a move at least equal to the width of the recent trading range.
2) We're finishing an extended sideways correction, and yesterday's low is the low. Buying the 50 day MA has consistently paid over the last year + and will do so again.
3) Trading range continues with minor violations of top and bottom. The worst case scenario IMO.

My trend signal says scenario 1. My summation signal can accommodate all three scenarios.
I honored a short setup for the trend signal but will manage cautiously as I have done over the course of this heinous range trade.
It could get whipped by the Fed this afternoon, but it is the setups you don't take that often go big.
So, take the setup and manage the risk.
There is a saying that no stops go untouched. There is an opportunity for the bears below yesterday's low.
That said, over the last year, the bad news bears have never missed an opportunity to miss an opportunity.

[Out of Bounds]

Short 185.37
Looks to be falling apart now.

[Heck]

+164% undervalued opening long Index calls/puts suggests Market Up today
Tough trade
http://www.ise.com/market-data/isee-index/

[Cobra]

go as expected. now if turn up then it'd favor bulls, so key time.

[Cobra]

vol surge, hopefully it means rebound.

[fehro]

FOMC minutes 2:00 pm ET http://www.investing.com/economic-calendar/

[fehro]

VIX 15m.. closer view.. could eke out a lower low still.. and still maintain the bullish wedge...as the SPX maybe tags 38% retrace *1860ish, 20d *1862ish. FOMC @ 2:00pm maybe the catalyst for a bigger move.

[Vaamsy]

SPY 5 min, Ascending triangle?

[Cobra]

3rd test of day high, now the chart favors bulls a little bit. officially it's still in range though.

[TWT]

$SPX: Possible s/t count

[BullBear52x]

GOOGL is going on #4 rip. while FB is entering another rip that about to trigger sell at any hour from here. mid to long term entry setup.

[Cobra]

possible ascending triangle.

[BullBear52x]

Intraday Cash SPX = Buy

The rebound might push up as high as 50% fib before bears awaken.

[Sleeperz]

FED minutes coming up.

The Fed is expected to release the minutes from its March 18-19 meeting at 2 p.m. (1800 GMT). The Fed needs to be more specific about what economic conditions would prompt it to raise interest rates from current rock-bottom levels, a pair of top Fed officials normally at odds on policy said on Tuesday.

[uempel]

Chart with red Andrews has been quite reliable lately