04/10/2014 Live Update

[Cobra]

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The current rebound can be seen as the 3rd test of the rebound high, so should it fail then the rebound might be over, so key time.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2014/04 ... ay-update/

[DellGriffith]

SPY has now closed between 184-189 for 33 trading days. April 2nd-April 7th was most impressive. On April 2nd, the high of the day was above 189, but it closed just under 189 at 188.88. Then price fell until on April 7th the low of the day was just under 184 at 183.96 (my "WHOA" comment") and it turned out that was the low with price closing at 184.34. Price has been rising since.

One could have just traded the 184 and 189 points and been a perfect top and bottom caller...for a cycle at least!

I prefer to wait for a true breakout of this range to do something. Which may be a mistake. Maybe we stay here for months!

[gappy]

fx.PNG

spx.PNG

glta

[fehro]

SPX 15m.. mind the interday gap.. 5m 1870.1ish

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2014/04 ... ay-update/

[Mr. BachNut]

Small short. No change.

My summation signal is neutral. If bulls can keep the advance decline up, it could possibly turn up tomorrow.
My composite trend signal is down. There has been a progressive deterioration under the hood and yesterday made only minor repairs.
Bulls need to engage in sustained buying at this point to reverse trend. Not seeing it yet but maybe next week, which is OPEX.

Price rules, and yesterday was a good day, but my technicals didn't reflect the same enthusiasm.
My trend signal may be getting whipped again but yesterday was not enough to declare a fail.
The position is sized, at the moment, and the stop is placed to accommodate a vigorous retest of the high.
If the rebound reveals itself to be a corrective bounce in a downtrend, I'll size up.
Otherwise, I'll close out, ideally prior to the stop. My summation signal perked up yesterday, which could make things interesting.

[uempel]

The nice thing about this chart is its reliability. It shows resistance and it shows support too. Support is the blueish grid line. If SPX would dip now this grid line is at SPX 1862ish.

By the way, I have left this chart unchanged since ...

[fehro]

SPX 5m.. filled inter day gap at 1870.2.. a tad messy nothing clean pattern wise

[Vaamsy]

Is that a bull flag or H&S on SPY 5 min?

[Cobra]

pullback so far mostly overlap, so my guess it'd be bought.

[L_T]

Sectors so far today.

[Denali92]

Rare event next week - market closed for Good Friday so NO OPEX day trading!

Put together an extensive comment on this fact plus early April weakness and April Opex.

It is posted here:

http://www.cobrasmarketview.com/2014/04 ... pce-again/

-D

[fehro]

SPX 5m.. possible H&S .. another inter day gap.. 1869.2ish

[fehro]

Rare event next week - market closed for Good Friday so NO OPEX day trading!

Put together an extensive comment on this fact plus early April weakness and April Opex.

It is posted here:

http://www.cobrasmarketview.com/2014/04 ... pce-again/

-D

http://www.cboe.com/tradtool/expirationcalendar.aspx

[uempel]

Intraday Bullish Percentages: BPNYA up 0.35%, BPCOMPQ down 0.01% - all the other BP indices are flat.

[uempel]

Update:

[Out of Bounds]

That's a break. Support is weak.

[Mr. BachNut]

Rare event next week - market closed for Good Friday so NO OPEX day trading!

-D

Completely did not have that on the radar. Thank you.

[fehro]

SPX 5m