02/19/2016 Live Update

[Out of Bounds]

SPXEW underperforming

[JFR]

Support holding.

[Al_Dente]

[daytradingES]

finished at the bottom for now
should rise and then fail
don't rush to sell

[Cobra]

possible double bottom.

[josephli]

internal seems strong.

[Mr. BachNut]

BachNut on Friday.

The NYMO cycle is up but the high may be in.
Wednesday's close was in turn territory.
We'll have to wait an see if this was the cycle high or just an interim high.

Normal would suggest a pull back of NYMO to the zero line neighborhood in the days ahead either as a corrective move or as the start of a down cycle.
We shall see.

My lowest target area for the up cycle was just shy of being tagged at Wednesday's price highs.
Perhaps this is unfinished business or it could be a bull fail. My guess would be the former, but Mr. Market might wait for the 50 day MA to come down a bit more before closing the move.

I have added a possible downside target to the chart that would retest a broken trend line and close an open gap. Just a thought for a corrective pull back if that is what we are getting.
There are other targets too.

Big picture, I think bears will defend the February 1st high. Closes above that complete a double bottom and open up the potential high upside targets on the chart.
Until then those targets aren't really on the table.
Note how price is coiling around the grey extension of the thick red line with lows about the October 14 low level. That extension is a neckline connecting the October 14 low and the September 15 low.
It would not surprise me to see price coil some more, perhaps morphing the chart into a rectangle before electing a 135 point move in one direction or the other after breakout.
Something to watch.

I am flat at the moment.
Because I am slow like a turtle and don't like to chase, I missed entries onto the recent rocket. Fudge.
I did catch a day trade long Wednesday and a short yesterday, both small. Should have held the short overnight but it was a gut trade not a setup in my trading plan.
I'll be stalking short for a NYMO move back to the zero line.

[Out of Bounds]

Hitting every support/resistance on the chart

[josephli]

yesterday LOD key, once breaks bull may try to test top again.

[fehro]

SPX resistance of sorts here

[KENA]

For those who like Domes, the 3 day 5min is showing a great make up and may go to 187.63. They don't always make it, but lets see.

[fehro]

SPY retests yesterday's LOD, breakdown level

[Out of Bounds]

Crude on new lows & the market doesn't care.

[josephli]

USDJPY box consolidation + possible falling triangle. bias still down

[josephli]

Crude on new lows & the market doesn't care.

opex day.

[daytradingES]

at Fri Feb 19, 2016 9:08 am
posted two scenarios
if strong 1898.25 to 1920.75

------------
9:36 AM 2/19/2016
fitting scenario 2 - 1892 to 1920.75 (so far)
actuals
19-Feb
High=1912.00
Low=1898.50
----------
Note:1918.50 level

[JFR]

Oil hitting the dumpster.

Back later.

[superxy]

For those who like Domes, the 3 day 5min is showing a great make up and may go to 187.63. They don't always make it, but lets see.

What is Domes?

[fehro]

Crude on new lows & the market doesn't care.

/CL USOIL my messy chart.. diamond still in play.. messy invs H&S re-write.. again on the neckline.. possible 28.50-28 range RS .. fwiw.. diamond daily edge.

[Cobra]

members only update at 11:03 am
http://www.cobrasmarketview.com/2016/02 ... ay-update/