12/30/2014 Live Update

[Cobra]

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Touch the blue line again, it'd break it, wait.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2014/12 ... ay-update/

[fehro]

SPX mind the morning gap & lower gap.. first support.. VIX maybe breaking out...

[Out of Bounds]

Russel breadth is positive

[merryme]

Interesting OIL Chart:

http://www.nowandfutures.com/images/oil_trend1970on.png

[Cobra]

not a good start, where those aggressive dip buyers?

[Out of Bounds]

5 day SMA is at 208.16 and bouncing a bit for today. This is a favorite support/resistance level for many short term (and day-) traders.

EDITED to fix mistakes

[fehro]

SPX trying to fill the lower gap..

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2014/12 ... ay-update/

[fehro]

SPX gap fill.. possible support near here / a tad lower.. VIX over 16.10 then not so much..

[cletus]

As Nas 100 surges off the lows, it's worth noting we're 8 vols above the p-bar at 9.66. No real telling how much it will gain after hitting that from here.

[cletus]

JNUG is approaching the 20 ma at 26. A close above that is a buy/accumulate signal. Buy maybe small blocks over the course of several weeks to avoid getting a bad price.

[startap]

cletus, just curious why you still mentioning the p-bar at 9.66 even vix is holding its 200 DMA (actually above its 50 DMA now), you still think we will hit 9.66 first before vix spikes up? thanks

[cletus]

The market is falling after a David Tepper bullish view for 2015. Interesting change. In prior years that had caused some melt ups.

[cletus]

cletus, just curious why you still mentioning the p-bar at 9.66 even vix is holding its 200 DMA (actually above its 50 DMA now), you still think we will hit 9.66 first before vix spikes up? thanks

I think even if the vix spikes up you want to be buying dips until it gets hit. Notice how on the last huge spike in the VIX, the market didn't even make a lower low. The bulls are still in control anway. The VIX is still contained within its 10-25 range pretty well. A close above 30 will have me a little worried.

[fehro]

INDEXes dailies

[Cobra]

doesn't look like selling was over.

[DellGriffith]

to reiterate my own criteria:

1. indicators can turn bearish but price keeps rising. no need to turn bearish.
2. indicators are bearish and one day price breaks the uptrend. still no need to turn bearish. many tomes it breaks down one day and follows it up with a huge white candle the next day.
3. price confirms the breakdown on day 2. now you could turn bearish but waiting until day 3 sometimes is needed.

we are at #2. today looks like it might be a price breakdown, but its still just one day and these can whipsaw a lot.

[fehro]

highly speculative… SPX 60m.. should this hour hold.. here.. may have chop "RS" until tomorrow close..of a minor H&S ..if not look for lower gap fill

[Out of Bounds]

to reiterate my own criteria:

You tend to be more cautious. I tend to rush in.
Who makes more money?



I bet you do!