09/17/2015 Live Update

[Cobra]

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Breakout of blue line and consolidating above it so the chart favors bulls as the consolidation serves to solidify the breakout.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2015/09 ... ay-update/

[Unique]

ES Intraday Update:Classic bull sticksave region

Price retesting the 1HR 20EMA bull train right now. It's been an incredible 20ema bull train from Sept 15.
Key support right now is 1980 and 1974 for bulls to sticksave/re-enter longs.

Let the Fed games begin! May your odds be ever in your favor!

[fehro]

SPX .. wedging up.. still bear flag looking.. until it's not.. 20d 1961, open gap to the lower side.. 2020 to the upside for the FOMC fireworks.. near resistance here wedge wise.

[Unique]

AMZN + GOOGL + TSLA UPDATE:

AMZN: If able to trigger above 532.50, next target is 537 and 539

GOOGL: If able to trigger above 669.00, then next target is 670, 672, 674. Still trailing some calls from before.

TSLA: Alright, we're only $5 away from the final target of 270 which is the gap fill target as well. Still trailing some calls from yesterday. $265 is the minor resistance target.

[fehro]

SPX.. VIX punches out a new low compared to yesterday.. both RED in the opening minutes.. VIX crazy spike on the 1m

[TraderJoe]

Per ElliottWaveTrader;

Arguably, we are now entering what is viewed by the masses as one of the most important Fed day in years. What this means to me is that patterns will now become accelerated. This means the next 24 hours should see some significant market movement. And, as I noted earlier in the Trading Room, I would almost expect to see movement of 50 points or more, but not necessarily in the same direction.

With the market breaking over resistance yesterday, I have no immediate set up in a 1-2 structure to the downside. This means I am unable to take an aggressive downside posture. Rather, overnight, the market remained over the upper support region between 1975-1985SPX. On the upside, we have the 2000 region, which represents the .500 retracement of the August decline, and the 2008SPX level, which represents the .764 extension off the low. Clearly, this is resistance which can turn us down. But, until we see a downside structure set up, there is nothing that suggests to me the market will turn down at this resistance from a high probability standpoint.

Should the market take out the 2008SPX level, it opens the door wide open for us to test the 2031-2040SPX zone. And, as noted, should we strike that zone before turning down, I will have to consider the more bullish green count a bit more seriously. We would need to break below the 1988SPX level to turn the market back down from that region, otherwise, a bullish count would remain alive.

Juxtapose all this information with the fact that today is a major Bradley turn date, and it tells me that any spike up will, more likely than not, be reversed within 24 hours, just as has happened to most previous Fed day spikes.
Also, I would like to remind everyone that if we are heading down to the low to mid 1700’s, or if the market has turned bullish towards the 2500 region, none of it will happen in one day no matter how much the market moves today. FOMO (fear of missing out) at this time can hurt your account, on both the upside and downside.

[fehro]

http://www.aaii.com/sentimentsurvey/sent_results .. everyone back to the middle of the boat

[fehro]

Sharp pop on the VIX and reverse.. crazy 1m

[Cobra]

members only update at 10:00 am
http://www.cobrasmarketview.com/2015/09 ... ay-update/

[Unique]

AMZN is above 532.45, we are launching the rocket ship sir!

[fehro]

NDX, RUT new highs.. SPX lags.. TLT green.. but no new higher high .. GLD held down by 50d *VIX + SPX both green

[Tutti]

Per ElliottWaveTrader; FOMO (fear of missing out)...can hurt your account, on both the upside and downside.

For years FOMO was, and to a much smaller degree continues to be, a major impediment to my success. Such a gem buried in there...

t/y

[Unique]

GOOGL is above 669, all aboard the train! No failure allowed here bulls

[TraderJoe]

YES, there is always another day & another trade...

[fehro]

RUT new HOD, VIX still green.. AAPL red.. with new LOD

[Unique]

Didn't know you were an EWT member TradeJoe, what's your alias there?

[brokebybernacke2]

opinion on this market today
really like Cobra ascending triangle, like those mentioning whipsaw action on fed, like a quick scare dip first to test that ascending bottom border of triangle then a break up out of triangle as markets calm postpone rate hike and hear Yellen soothing talk....
think real problem/market mover will be debt ceiling in combo with declining earnings in next few weeks - see 2013. believe that will move markets more...

[Cobra]

ascending triangle? if so bias is up.

[mozart]

buckle up