05/02/2014 Live Update

[Cobra]

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Blue line above seems being tested 3 times, so if bulls can make another test, then we'll see a breakout.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2014/05 ... ay-update/

[gappy]

Vote Cobra. glta

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[fehro]

SPX5m still in a range ... but surprise.. no gap this morning.

[gappy]

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[nightwolf]

Got a P-bar at 189.32 for SPY. Anyone else?

[1der]

Got a P-bar at 189.32 for SPY. Anyone else?

I do not think that was a PBar as ES traded 1886 pre-mkt 8:30 ET

[Cobra]

members only update at 9:44 am
http://www.cobrasmarketview.com/2014/05 ... ay-update/

[nightwolf]

Tks 1der.

[Mr. BachNut]

Neutral. No position.
Worked a small long yesterday for some pocket money.

My summation signal is neutral. Trade a few points above this morning's NFP spike high would turn it up for the SPX.
My composite trend signal is up with the three critical trend indicators down. Pretty house, weak foundation.

I have to be in meetings most of the day today.
Thus, per my Big Days Happen When You Are Unavailable Principle, it could be a great trading day.
NFP days sometimes work both directions pretty good.
I don't know what will happen as usual.

The SPY traded big volume as high as 189.30 on the payroll announcement.
There were a few last old P-Bars a little over 189.
While it wasn't in the open session, they could be considered tagged given the volume.
However, a tag in session would be official me thinks.

As with yesterday, the choices seem to be pop the neckline above and run stops or fall back into the heart of the heinous trading range. (Perhaps both.)
Given how close we are, if the bulls fail to clear this neckline it would seem to me like a sea change in the tone of the market.
Bears have gotten use to their regular spankings and may feel temporarily disoriented.
We shall see.

[fehro]

SPX 5m.. into resistance minor divg MacD

[fehro]

VIX 15m.. possible support.. slightly higher low, as SPX makes a slightly higher high Apr 22

[Al_Dente]

[Cobra]

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

[Cobra]

vol surge, hopefully it means pullback. the pullback likely would be bought though.

[fehro]

SPX 5m popped a little higher to the red trend.

[uempel]

The red Andrews suggests SPX 1895 is resistance, and we all know the previous high is at 1897...

[fehro]

NDX, COMPQ lagging a tad.. below yesterday's highs.. SPX, INDU, etc above them... Index 5m

[Al_Dente]

“SEC fines NYSE $4.5m for breaking rules”
http://www.ft.com/intl/cms/s/0/578b5124 ... z30UwKmso7

[Cobra]

my guess for fun. each rebound shall make a new high until the last one.