08/21/2014 Live Update

[BullBear52x]

Stops are in......Emotions are out.

I am going for a walk, before I fall asleep. bear stop 1989.25

[Al_Dente]

Internals are roughly 1-to-1 today
Chop/range day
Bull bias is by default, not by strength

[fehro]

GLD weekly, GOLD monthly.. possible triangle on GLD weekly... long long term green line key support... monthly H&S a little iffy.. but if the USD continues it's climb... possible

[Al_Dente]

BAC agreed to pay $16.5billion in “historic Justice Department settlement for financial fraud leading up to and during the financial crisis.”

As the late Senator Everett Dirksen famously said on the floor of the Senate: “A billion here, a billion there, pretty soon you’re talking about real money.”

[JFR]

SPY is relentless.

As a wise old trader recommended, buy every dip on the way up, and be prepared to be wrong once at the top.

[grandeG]

Man ... it certainly feels like someone is priming the pump.

[DellGriffith]

SPY is relentless.

As a wise old trader recommended, buy every dip on the way up, and be prepared to be wrong once at the top.

The caveat is Japan, which spent 20 years going down in the 90s and 00s. Impossible to say for certain if/when that will ever occur to the US.

[MrMiyagi]

IWM is joining in the frenzy now.

[JFR]

Not me. Waiting for the crash. Just filling idle time.

[Al_Dente]

Fidelity’s chart on “The Dow Theory” confirmation
https://www.fidelity.com/bin-public/060 ... theory.jpg

[EvilTrader]

"Nothing can prepare you to trade the last third of a move. You must live it." Paul Tudor Jones

[Al_Dente]

[Cobra]

updated guess. push up still strong, so might be another push up.

[fehro]

Fidelity’s chart on “The Dow Theory” confirmation
https://www.fidelity.com/bin-public/060 ... theory.jpg

fwiw... INDU / TRAN*

[JFR]

When does the market run out of gas?

Part of the spectacular rise seems to be that people feel there are no better alternatives to the stock market. And as long as it rises that is true. Forget geopolitics. Forget risk off. But no euphoria at the top yet. No exhaustion.

[MrMiyagi]

Advancers keep piling in, from 1200 when I woke up to 1800+ now.

[Al_Dente]

Fidelity’s chart on “The Dow Theory” confirmation
https://www.fidelity.com/bin-public/060 ... theory.jpg

fwiw... INDU / TRAN*

[Cobra]

consolidation, bias still up.

[quientuves]

When does the market run out of gas?

Part of the spectacular rise seems to be that people feel there are no better alternatives to the stock market. And as long as it rises that is true. Forget geopolitics. Forget risk off. But no euphoria at the top yet. No exhaustion.

Sorry, but I can't buy that argument. I hear it a lot, yes, but look, if that was right then we'd see bigger and bigger volumes entering the market, and fueling the raise... and we have exactly the opposite, less and less volume... and even less now on holidays...

For me, the reality is that people is more and more concerned about mister market. And they keep outside all this. So the market is run by fewer and fewer people with more power over it than ever. And obviously they do what they think is needed to do.

NO offense, just my opinion. If i'm wrong I'll be happy and thankful to be corrected.


ANd there is a last question. With this anorexic volume... what's going to happen when this people tries to take his money back?

[Al_Dente]

Chair Yellen’s presentation is tomorrow morning at Jackson Hole.
I think the time will be 10:00 am ET