10/15/2014 Live Update

[TraderGirl]

Would not be surprised to see another leg down...

[grandeG]

capitulation means the short-term bottom was in.

OK, thanks. So massive selling to get to that point.

which means rebound will be controlled and short lived and go to the new low?

Choppy rebound means no capitulation. Impulsive means strong rebound. Currently it looks choppy and more like a bear flag.

now looking impulsive... bear flag negated.

[champix]

my last hope on a bullish move is still alive - update on eminis&p

[Cobra]

likely it is capitulation. exceed the tinted area decisively to confirm.

[uempel]

Ellipses show a time signal on daily SPX for tomorrow

[Out of Bounds]

no comparison to 1987
at 1987 levels, it was down -22.6% in a single day
at the moment the dow is down -2.6% today [now -2.3%]

That must have been just nuts.

I was a broker back then. It was quiet. There were a couple of highly leverage clients that we had called in and they were being forced to sell everything. Grown men who walked with a cocky swagger for years were slumped in chairs crying. The news came over the wire that there had been a shooting in a brokerage somewhere.

We locked the doors.

My manager pulled out a bottle of scotch.

The phones stopped ringing.

It all just stopped and no one moved while the ticks just kept flooding in red.

I updated my resume and checked my savings.

[Junior Buffett]

likely it is capitulation. exceed the tinted area decisively to confirm.

Cobra, if it is capitulation what could be the target? previous low or new low?

Thank you

[MrMiyagi]

spy

[uempel]

Last chart for today

[Junior Buffett]

3823.png

MrMiyagi,

only 5 sessions left I guess to fill those pBARs? how do you feel?

[tonghu]

wait for me, 196.75 !!!!

The attachment 3821.png is no longer available

[KENA]

3823.png

Yes a green day or 2 tomorrow.

[user13]

no comparison to 1987
at 1987 levels, it was down -22.6% in a single day
at the moment the dow is down -2.6% today [now -2.3%]

That must have been just nuts.

I was a broker back then. It was quiet. There were a couple of highly leverage clients that we had called in and they were being forced to sell everything. Grown men who walked with a cocky swagger for years were slumped in chairs crying. The news came over the wire that there had been a shooting in a brokerage somewhere.

We locked the doors.

My manager pulled out a bottle of scotch.

The phones stopped ringing.


It all just stopped and no one moved while the ticks just kept flooding in red.

I updated my resume and checked my savings.

Wow thx for sharing

[grandeG]

https://twitter.com/ukarlewitz/status/5 ... 4632069121

[fehro]

SPX 2m.. first resistance..

[EvilTrader]

hi powerful Cobra

im glad i sold last dip this week.

Do you see the possibility of a major short term bottom today ? capitulation selling ?


good trading all

[uempel]

Very last chart ....

[DellGriffith]

I guess next move is down to sept 2013 and SPY 170.

[Tutti]

https://twitter.com/ukarlewitz/status/5 ... 4632069121

See: recency bias
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Also, all this talk of '87 gets me thinking long here. too many twitter experts (LMBO) tweeting how the charts match up (LMBO)^2.

OoB:Great story about the 1897 crash btw.Thanks

[MrMiyagi]

only 5 sessions left I guess to fill those pBARs? how do you feel?

Today's have 10, the uber-high ones will probably end up forgotten, like old people.

sigh