06/12/2015 Live Update

[finman66]

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Beware Greeks promising counter proposals .......................... just sayin

[fehro]

INDEX days.. either ther RUT is leading or lagging....hardly moving . .I'll say it's lagging.. ugly candle configuration on daily RUT ... VIX back over 20d/50d.. NDX test 50d SPX/INDU <50d

[DellGriffith]

Unfortunately, my SPY update today is not timely....

Yesterday, SPY clearly closed above the downtrend line established by wave A down of the correction. That signals that wave B up has begun. By my book, that is a good short as long as you can get a price above that downtrend line. Unfortunately, wave B up can be brief....REALLY brief. As it turns out, we opened with a gap down below the downtrend line again. It IS possible that wave B up only lasted 3 trading days, terminating yesterday, and wave C down has begun.

Confirmation of wave C down will be a drop below the June 9th low (or tying it more or less). Until then, we could still be in wave B up with today representing a throwback under the downtrend line.

I didn't short because I was waiting for market open today to do so, and we got that gap down which makes it too risky for me.

Overall, I still prefer to measure corrections as ABC because most are ABC.

[uempel]

Update:

[Cobra]

members only update at 12:10 pm
http://www.cobrasmarketview.com/2015/06 ... ay-update/

[Al_Dente]

Yesterday, XIV hit seven cents shy of an all-time-high.
What’s next?
Since forever on XIV, the Vortex Indicator (top panel) has a perfect record of calling tops. Sometimes it’s a minor top, sometimes it’s a major top.
As this is a WEEKLY CHART, it can take a while to work out

[fehro]

SPX .. tagging bottom of triangle...

[BullBear52x]

tick tox tick tox it cliff warning.

[fehro]

Unfortunately, my SPY update today is not timely....

Yesterday, SPY clearly closed above the downtrend line established by wave A down of the correction. That signals that wave B up has begun. By my book, that is a good short as long as you can get a price above that downtrend line. Unfortunately, wave B up can be brief....REALLY brief. As it turns out, we opened with a gap down below the downtrend line again. It IS possible that wave B up only lasted 3 trading days, terminating yesterday, and wave C down has begun.

Confirmation of wave C down will be a drop below the June 9th low (or tying it more or less). Until then, we could still be in wave B up with today representing a throwback under the downtrend line.

I didn't short because I was waiting for market open today to do so, and we got that gap down which makes it too risky for me.

Overall, I still prefer to measure corrections as ABC because most are ABC.

Thanks for the update!

[Al_Dente]

The longer-term channels are still being respected here

[BullBear52x]

Continuation triangle or a right shoulder of IHS? Trend following is to bet on continue down.

[Cobra]

100% mm? not sure.

[joeynickels]

Yesterday, XIV hit seven cents shy of an all-time-high.
What’s next?
Since forever on XIV, the Vortex Indicator (top panel) has a perfect record of calling tops. Sometimes it’s a minor top, sometimes it’s a major top.
As this is a WEEKLY CHART, it can take a while to work out

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Interesting chart. Thanks for sharing Al.

[Al_Dente]

Interesting chart. Thanks for sharing Al.

[gappy]

Lunchtime lookin. Watching the Zweig/spy price divergence. It will sync after awhile. Just weak now, need to see more. Daily.

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[gappy]

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Beware Greeks promising counter proposals .......................... just sayin

Greece/Turkey embrace a bric umbrella affiliation...market produces a good dip.

[uempel]

This system suggests that if BPNYA is weak next week (weak next week - I like that ) SPX might correct quite a bit.

[fehro]

SPX .. weak triangle... can't even drift up to the upper side..

[gappy]

Back to the diamond auction. 15 minute.

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This is where the ponzi would kick in. Maybe the Fed does fear the inequality issue.

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[fehro]

TRIN > 2.0