01/08/2015 Live Update

[daytradingES]

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Fib 50%, still can be seen as bear flag. Sometimes the rebound can go as high as 80%.

Cobra,
when you say 80% are you not talking a multi-day move?
So re day-trading - ie today - are do you see a bear flag for today??

Yes, 80% is multiday move.

Day trading, right now all we think is find chance to long, forget about flag or whatever. I mean for now. Maybe later situation changes then we think other way...

thanks

[BullBear52x]

I am looking for an excuse to sell today.

[BullBear52x]

20/50 DMA resistance will be a key talking point for TA world.

[cletus]

Double red bar on VXN from an extreme level confirms a buy signal for the intermediate term. Today won't close red unless something catastrophic happens.

[fehro]

SPX .. going for the gap fill..

[Cobra]

members only update at 10:02 am
http://www.cobrasmarketview.com/2015/01 ... ay-update/

[Cobra]

very strong start, this bull shall have legs.

[fehro]

Fed's Evans speech last night.. was market moving… vs the minutes… http://www.zerohedge.com/news/2015-01-0 ... hina-purge

[fehro]

VIX near some support….SPX 2060 level may provide resistance

[BullBear52x]

my first sell today at 2054.

intraday is counter trend.

longer term is sell at resistance.

Know your time frame and keep it simple, it is what it is, until it fails.

Peace!

[Eddie]

A lot of swing trade setups like this right now. FB put in higher low on 30 min chart, and has a dome shaped decline in the most recent move lower with a higher low. 5 DMA is flattening. Breaks about $77.50 and should be back off to the races.

[fehro]

just stopping short of the open gap.. necklines subject to revision… if we fill the gap first.. then RS

[fehro]

INDEX dailies… TRANS lags a lot! … NDX into 20d/50d.. everyone else above

[BullBear52x]

using $VIX to see an overbought an resistance.

[Mr. BachNut]

I remain sidelined.
As a turtle, my signals are moving slower than price at the moment.
Once again, air from a central bankers mouth triggers the move.
Gun was loaded though.

NYMO heading back to the zero line is not a surprise, but the blast above is strong.
If the prior NYMO high is exceeded, I expect to mark a low for the cycle.
The wedge thesis remains plausible, but other possibilities are coming to the fore too.
I put a purple line up high to mark the limit of the wedge scenario.
I borrowed from Elliott Wave (confession), which says the 3rd wave cannot be the shortest.

At the moment, the currency tell is not particularly supportive of this bounce. Hmmm...
On the other hand, TRIN VIX is saying the low is in IMO.

My equity setups have been cancelling before they launch. So I wait for now.

[L_T]

Al how do you read our T2104? If waiting for the index to cross above the 50 MA we aren't quite there yet (hourly).

[champix]

Are bears dead again (154th time since 2009)? Do not know.
Here is a chart of continuous ES future. Bull target = 2100/2125 for the end of the month if we fo back to the top of the black channel.

[fehro]

SPX .. hourly candle close will be of interest.. into ma's

[TraderGirl]

The wave count of 5 waves up suggests at least another leg up....

We got another leg up....hit my p-bar at 205.50....

[brucekeller]

Nice Flowergirl. I need to start playing UVXY/SVXY. They seem to do greatly with percentages, just the high option premiums always scare me off I guess.