06/02/2015 Live Update

[Unique]

Chart for the road. Now the market god knows everyone is looking at this, lets do the gap setup gap tonight? peace!

A large gap (not the small gap like today) would be the most evil scenario since a lot of complacent traders
are stuck buying and shorting the SPY which is closing basically flat every day.

[Al_Dente]

Here’s the VIX INVERTED

[uempel]

Bulls will try to push SPX above 2112 to end the day

[fehro]

Chart for the road. Now the market god knows everyone is looking at this, lets do the gap setup gap tonight? peace!

Gap up?.. we close at LOD ... GAP down and go.. imho. SPY 15m

[Out of Bounds]

GAP down and go.. imho. SPY 15m

I was just thinking the very same thing.

[Al_Dente]

Correction/update on the “meandering”
It’s actually a descending triangle on SPY, which is a “continuation” pattern that breaks downward 64% of the time (per Bulkowski)

[fehro]

market "feels" heavy.. VIX 1m .. messy invs H&S .. at neckline.. target near HOD.. be on your toes in the last 20m..

[Cobra]

members only update at 3:36 pm
http://www.cobrasmarketview.com/2015/06 ... ay-update/

[Unique]

ES Update:

Tested the 2094 daily 50sma overnight, first try stick saved. Now price at retest of resistance zone.
Stick save continuation up or just a bear re-entry zone and lower low we go? This morning is fairly important, we shall know very quickly.
Hopefully, it's not a small range day to trap more complacent traders, that would be very boring.

Bear: 2094- > 2080
Bull: 2112 - > 2115 -> 2117

Don't get trapped and be mad today boys

Looks like a first try SPY double bottom so far, see if bears reject heavily at 5m 8ema/20ema. The hourly candlestick close should be telling as well, in 3 minutes
Remember, it's in a tight price channel until it isn't. Breakout/breakdown didn't happen yet. Trap day?

ES Update:
Yup, it was indeed a trap day of range-fest to lure in complacent traders looking for bear follow through.

ES bulls and bears still respecting the hourly price channel almost flawlessly.
Range is getting tighter and tighter everyday, so be on the lookout for imminent breakout.
Today is double bottom sticksave at 50DMA 2094 ES. Wanna see if there's 2nd leg up on hourly time frame overnight/tomorrow morning

[Out of Bounds]

UVXY moving up for no apparent reason.

Curious

[Unique]

NQ Update:

NQ still trading inside the hourly channel. Sticksaved overnight at support line just like ES

NQ Update:
NQ has been a tad easier to trade compared to ES since it is reacting perfectly on the hourly channel supports and resistances
It works till it doesn't, stick with the easy hourly trades with great R/R

[uempel]

Bulls will try to push SPX above 2112 to end the day

SPX9.png

Looks as though they are too weak

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2015/06 ... ay-update/

[MrMiyagi]

I can't trust this market either way.

[Cobra]

well, guess that's it for today. Wednesday tomorrow has been bear friendly. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

[fehro]

maybe AAPL will set it off.. gap down.. 60m.. at neckline.. . this top.. on the daily triple top.. looks ripe for a gap

[fehro]

Full moon... SPY daily

[MrMiyagi]

BA Weekly, is this a Bull flag?