04/23/2014 Live Update

[Cobra]

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Channel, I see nothing wrong, most likely this pullback would be bought.

[Cobra]

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

[fehro]

SPX 5m.. possible minor H&S ... take your pick of necklines.. shoulder in?.. or bounce and put RS in?.. mind the trend lines.. and the minor open gaps from yesterday afternoon ... see in zoomed area.

[EvilTrader]

This pig gonna bleed today

GTA

[fehro]

SPX 5m

[Out of Bounds]

TOS squawk just said the opening was like a "flea on crack - jumping all over..."

[Al_Dente]

New Home sales report is in a few minutes at 10:00 ET: estimate 450k
Existing home sales reported green yesterday: 4.59M vs estimate 4.55M

[Out of Bounds]

New Home sales report is in a few minutes at 10:00 ET: estimate 450k
Existing home sales reported green yesterday: 4.59M vs estimate 4.55M

Is good news bad for market or good? I don't know how to read news anymore.

[fehro]

VIX 15m... pressing resistance.

[fehro]

SPX 5m... filled morning gap.. neckline kinda restest.... target almost hit.. ...intial red channel support...

[Out of Bounds]

Housing 384,000

[fehro]

VIX 15m.. next resistance...

[fehro]

SPX 5m.. next support ..H&S target hit.. mind lower open gap..

[Al_Dente]

New Home sales report is in a few minutes at 10:00 ET: estimate 450k
Existing home sales reported green yesterday: 4.59M vs estimate 4.55M

Is good news bad for market or good? I don't know how to read news anymore.

New Home sales report came in red at 384k vs estimate 450k THAT’S BAD
Existing home sales reported green yesterday: 4.59M THAT’S GOOD

Also good: Stronger Europe Business Activity. The Flash PMI for the region hit a new 35-month high in April. Peripheral Europe saw its fastest pace of growth since May 2011, according to the report
Also good-ish (but China is down) China PMI Ticks Up. The reading for April hit a two-month high but at 48.3 is still contracting

[Cobra]

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

[Out of Bounds]

New Home sales report is in a few minutes at 10:00 ET: estimate 450k
Existing home sales reported green yesterday: 4.59M vs estimate 4.55M

Is good news bad for market or good? I don't know how to read news anymore.

New Home sales report came in red at 384k vs estimate 450k THAT’S BAD
Existing home sales reported green yesterday: 4.59M THAT’S GOOD

Also good: Stronger Europe Business Activity. The Flash PMI for the region hit a new 35-month high in April. Peripheral Europe saw its fastest pace of growth since May 2011, according to the report
Also good-ish (but China is down) China PMI Ticks Up. The reading for April hit a two-month high but at 48.3 is still contracting

I was referring to the market habit of rising on bad news as it may infer that the FED would continue support.

[Al_Dente]

I was referring to the market habit of rising on bad news as it may infer that the FED would continue support.

Good point, as usual
Also:
Hourly:
Failed at box resistance
Now back-testing the 4/9 high

[fehro]

SPX 5m... possible pink retest.. or this is it for the bounce.. another H&S 2nd blue neckline.. messy... but similar to the first one

[Out of Bounds]

LOW and HD giving back recent gains.
CREE getting murdered - very long term support at 42.9.
IBM resuming drop - BEAR
AMZN looks just awful. well below yesterdays low.

[Out of Bounds]

Overall though BULLS are holding in really well. -