02/20/2015 Live Update

[Cobra]

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It's ascending triangle as long as no sharp down from here. Another test of the upper blue line, a breakout is very likely then.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2015/02 ... ay-update/

[champix]

GM,
Another new high on Stoxx50 and dax in Europe this morning because of Greece. News was sold off right after.
Seems that we saw the high on Dax @ 11160.
Good trading to all.

[champix]

I would expect a support at about 2082 on ES (MM9).

[fehro]

SPX near support, possible 2nd neckline of another H&S.. should we get a weak bounce.. cover another partial from yesterday's short

[Cobra]

might be a rebound here then probably another leg down.

[uempel]

GM,
Another new high on Stoxx50 and dax in Europe this morning because of Greece. News was sold off right after.
Seems that we saw the high on Dax @ 11160.
Good trading to all.

Champix, I guess you meant to write 11080 ....

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2015/02 ... ay-update/

[champix]

GM,
Another new high on Stoxx50 and dax in Europe this morning because of Greece. News was sold off right after.
Seems that we saw the high on Dax @ 11160.
Good trading to all.

Champix, I guess you meant to write 11080 ....

You are right for the dax cash index, but look at the future one (and so my CFD index), there was a spike @ 11160 that lasts 2 minutes)...

[fehro]

INDEX days.. NDX barely moves.. still inside day.. others not so much..

[fehro]

SPY 4hr. moon phases.. new moon

[CaStorm]

Boss. What does hourly bar look like? Anything special today?

[Mr. BachNut]

Still early in the session to judge charts, but I have to run out this morning.

NYMO below zero at the moment. Down cycle appears to be ongoing.
Benchmark price for the down cycle is SPX 2050.30.
Perhaps the move to the benchmark price is initiating.

The currency tell made an inside day yesterday and broke down today.
There is a bit of a rising wedge visible.
It is hitting a support zone. So, have to see how it behaves from here.

The end of the week close (when traders reveal what they are willing to take home for the weekend) will as usual be important.

My setups are not there yet, but the case for a short is building. Maybe this afternoon or Sunday.
Have been doing day trade longs but I am out later so nothing doing today.
It is OPEX and there is huge event uncertainty over the weekend. Tricky trading.
Also, the trend has been strong bull.

[champix]

I would expect a support at about 2082 on ES (MM9).

On ES, low was 2082.25... now at resistance. I will go long when/if price is ready to go through yellow line and stay above it. (about 2089 currently).

[fehro]

SPX.. VIX possible triangle.. should upper resistance hold

[Mr. BachNut]

Bonus chart.

DAX popped an ascending wedge this morning and is now looking like a shooting star.
Breaking the bottom of the wedge would now be a failure IMO and bearish.
Given the width of the wedge, support at the 26 day MA might prove temporary if it gets there.

I have no clue what will happen. These are just chart observations.
The wedge may simply be widening itself...
There are others on this board, like eumpel, who know a lot more about the DAX than I.

[daytradingES]

yest:

"then the correction starts (later part of today or tomorrow)
so looking to sell peak of today 2098 to 2100."

made an update error and had 2103.75 and 2083
then corrected it and now 2100 and 2087
so I was waiting for 2083 (incorrectly) and 2087 in place with L2087.50at 8:36
argh!

beta test model has up today with a peak and then the correction starts (later part of today or tomorrow)
so looking to sell peak of today 2098 to 2100.

(Gann 2107 still unfulfilled so nagging doubt in above - always a wrinkle!

[Cobra]

rebound may have legs, not sure if the low was in.

[Daniel]

SOX, semiconductors index, keeps hitting one intraday high after another.

Same can be said for IYR.

[Daniel]

With Greece and banks all on edge, am watching FAS today.

Strong rebound here off the morning low.