10/24/2014 Live Update

[Heck]

100% mm already reached, might not much meat for bears.

Investors Intelligence 47% Correction Camp (page 5) highest since 1987

http://www.yardeni.com/pub/peacockbullbear.pdf

[Heck]

from yesterday http://www.aaii.com/sentimentsurvey/sent_results

In the past this was a lagging indicator,
while II a contrary.

[Eddie]

Thanks, Unempel, for your reply earlier.

[fehro]

Good morning. Thanks to those who comment on my posts and provide feedback. Agree or disagree, I appreciate those who take the time to reply. For Stockcharts.com members - Martin Pring has an interesting article he posted recently. I feel his analysis has been a valuable addition to their team, and find his insights to be interesting and well reasoned. He seems to think the market is in the process of putting in a significant top. There are a lot of experienced traders/investors here, and I am curious if anyone might share their thoughts on his article.

another top call, fwiw. http://www.chrisperruna.com/2014/10/23/ ... arket-top/

[Tutti]

Good morning. Thanks to those who comment on my posts and provide feedback. Agree or disagree, I appreciate those who take the time to reply. For Stockcharts.com members - Martin Pring has an interesting article he posted recently. I feel his analysis has been a valuable addition to their team, and find his insights to be interesting and well reasoned. He seems to think the market is in the process of putting in a significant top. There are a lot of experienced traders/investors here, and I am curious if anyone might share their thoughts on his article.

another top call, fwiw. http://www.chrisperruna.com/2014/10/23/ ... arket-top/

...and another: http://www.marketanthropology.com/2014/ ... him-9.html

[Eddie]

Thanks, guys. Good stuff.

[Cobra]

testing day high, key time. My guess is rang day today, now close to rang top.

[fehro]

from yesterday http://www.aaii.com/sentimentsurvey/sent_results

In the past this was a lagging indicator,
while II a contrary.

Looking mostly at it as a contrary.... high/low levels seem to correlate to turning points for a few weeks usually

[uempel]

Let's see if this helps

[cletus]

Could be a triangle break but testing previous high. Triangle targets 4070 on NQ, big move up predicted if it holds.

[Cobra]

testing yesterday's high, key time, but this bull may have legs.

[Eddie]

SPX Weekly. While my trendline penmanship may not be the greatest, it looks like a major test around 1980ish will be upon us soon. Kiss the trendline goodbye?

[finman66]

Looks like the SPY pbar at $196.75 is in play either today or Monday with POMO ...... then I guess we see where "they" want to take the market.

[jway888]

time to short the SPY again, wfc.

[uempel]

DAX didn't want to spend the weekend above 9000, it closed slightly lower. DAX is up 42% since the low after the decline from the September high. Whereas SPX is up 70% since last week's low.

[flumanchu]

.

It appears more POMO (from yesterday) is being deployed today, so this grind up will probably continue thru the EOD.

Keep in mind, Mon / Tue is the last day for POMO. There's enough to keep the market even / up on one of those days. After that, we might be out of the POMO game (QE3).

Warning! - With No POMO next week, if the Fed does not sooth the market with forward guidance, there could be a violent reaction.

At which point, last week's lows might get retested next week.

Be Careful...

.

[Cobra]

members only update at 12:12 pm
http://www.cobrasmarketview.com/2014/10 ... ay-update/

[uempel]

Three previous patterns suggested a reversal at SPX 1945 (dashed blue, didn't work out). This system suggests that next reversal is due at approx 1990 (solid red line)

In 3 past occurences the bounces showed a reversal at a specific gradient - 3 occurrences is statistically irrelevant, but this is TA and not science.

[cletus]

.

It appears more POMO (from yesterday) is being deployed today, so this grind up will probably continue thru the EOD.

Keep in mind, Mon / Tue is the last day for POMO. There's enough to keep the market even / up on one of those days. After that, we might be out of the POMO game (QE3).

Warning! - With No POMO next week, if the Fed does not sooth the market with forward guidance, there could be a violent reaction.

At which point, last week's lows might get retested next week.

Be Careful...

.

No POMO...but it ends the day before a Fed meeting where they've been jawboning QE4. Besides housing and stocks, there isn't much inflation (thanks in great part to oil), so why not inflate more? Who else is going to buy treasuries but the Fed? Of course they must continue QE.

[Trades with cats]

The Federal Deficit is too small for effective QE. They dare not moniterize 100% of the debt, Republicans would be angry! Also there isn't enough collateral left for the banks. I assume you follow the "special" reverse repo days at quarter end when the banks window dress the collateral they hold.