10/13/2014 Live Update

[uempel]

For all those bulls out there:BPSPX down 8%, BPINDU down 9%, BPNDX down 15%, BPFINA down 5% - I'd be extremely surprised if this market holds above SPX 1900 these next few days.

http://stockcharts.com/freecharts/candl ... BPFINA|B|0

[MrMiyagi]

I'm tempted to go long SPY but afraid of being a sucker..

[fehro]

I'm tempted to go long SPY but afraid of being a sucker..

on top of a thin zone… feel safer at the lower line

[quientuves]

Double top?!?!? Sky's falling?

[Cobra]

not sure if it's double top here.

[fehro]

SPX 1m…seems like a bigger move (inter day) is close

[BullBear52x]

Bulls are so weak, no game unless they closed above golden number.

[Cobra]

breakdown blue line likely.

[jademann]

everyone seems weak today, shorts will need to cover though, as you say that put call ratio is nosebleed

[uempel]

In an updated 2015 edition of his "Technical Analysis of the Financial Markets" John J. Murphy might include the SPX action of the last few months. It's textbook. In my old copy of the book he writes: Broadening Formation generally appears at the end of a major bull market ....

Note that pivot 6 must not be on the same trend line as pivots 2 and 4. This suggests that should SPX dip down to 1840 these next days and then shoot up to 1945 - the pattern is still ok.

[Cobra]

members only update at 2:55 pm
http://www.cobrasmarketview.com/2014/10 ... ay-update/

[uempel]

Fehro, it's exactly the same megaphone. I show it on a linear chart - you drew it on a log chart

[MrMiyagi]

!!! POWER HOUR !!!

[fehro]

Fehro, it's exactly the same megaphone. I show it on a linear chart - you drew it on a log chart

thanks!

[BullBear52x]

What intraday RSI is telling? tool for your tool box, Peace!

[Cobra]

testing day low, key time.

[uempel]

Miyagi, did you write Power Hour?

[uempel]

Weakening into the close:

http://stockcharts.com/freecharts/candl ... BPFINA|B|0

[MrMiyagi]

Miyagi, did you write Power Hour?

yes... did it matter? no..

[uempel]

Miyagi, did you write Power Hour?

yes... did it matter? no..

Ahh, so the big red print should scare away the bears