07/24/2012 Live Update

[Cobra]

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Small gap down within yesterday's range, so the gap might be filled.

The Global ES still looks like a continuation pattern to me (Symmetrical Triangle?), so it might resume on the downside somewhere...

[CarlosDK]

Just a quick question:

When you refer to 61.8% fib target,, and you also charted the 100% target ? What are you looking for of those 2 ?

[joe-gamma]

Good morning most honorable board members:
getting even less comfortable holding shorts,looks like IWM will see less weakness/ possible ,,,,I think if it holds these levels this morning we will get a pop later today.but unsure of upside amount today..
here is midcap future 233 minute,look back 2 weeks-look similar?

[RobW]

I am looking to see if we can avoid a lower low today. The 61.8 from the current move held yesterday even though it was violated intraday

[Cobra]

the open.

[stucap]

I am looking to see if we can avoid a lower low today. The 61.8 from the current move held yesterday even though it was violated intraday

key for bulls is setting a higher low. however, not sure that the mid-term ball is in the bulls' court regardless.

[Cobra]

Just a quick question:

When you refer to 61.8% fib target,, and you also charted the 100% target ? What are you looking for of those 2 ?

it means 61.8% has higher chances. 100% also has some chance. Besides, the software I use, draws everything all together, so I cannot only draw fib 61.8%.

[RobW]

I am looking to see if we can avoid a lower low today. The 61.8 from the current move held yesterday even though it was violated intraday

key for bulls is setting a higher low. however, not sure that the mid-term ball is in the bulls' court regardless.

I agree that would be a good start and I also agree time frame is everything.
Just joined..We all just daytrade in here?

[ClarkW]

I am looking to see if we can avoid a lower low today. The 61.8 from the current move held yesterday even though it was violated intraday

key for bulls is setting a higher low. however, not sure that the mid-term ball is in the bulls' court regardless.

I agree that would be a good start and I also agree time frame is everything.
Just joined..We all just daytrade in here?

Personally my timeframe is more days-couple weeks. But this is a great venue to learn. Amazing contributors with King Cobra at the helm

[stucap]

I am looking to see if we can avoid a lower low today. The 61.8 from the current move held yesterday even though it was violated intraday

key for bulls is setting a higher low. however, not sure that the mid-term ball is in the bulls' court regardless.

I agree that would be a good start and I also agree time frame is everything.
Just joined..We all just daytrade in here?

yes pretty much a forum of daytraders with a focus on the SPY. some of us other products and share our knowledge. first rule of cobra's market view is cobra is the man.

[Cobra]

fib info. rebound from fib 38.2%.

[RobW]

Was just curious. I usually daytrade weekly options when I daytrade but do a lot of swinging as well

I jumped on SNDK this morning right out of the gate as it was above gap resistance.

[CarlosDK]

Cobra: In case SPY takes out yesterday lows , that would form a bullish divergence on 30min right ?

[Al_Dente]

Relative strength
The divergence between iwm and banks qualifies as honey-badger at the moment…

[Petsamo]

IWM is close to previous day's low

[Cobra]

green line the support, let's see.

[Cobra]

fib 50%.

[dr659]

fib 50%.

Do bulls need to prey?

[ClarkW]

Pure speculation, not a recommendation. Is SMN (2x Basic Mat bear) forming right shoulder of inv. h&s? Long SMN

[q2model]

AAPL earnings released after the close today and worth noting that the SPX has finished in the green on the day of AAPL's PM earnings release 11 of the last 12 quarters (and the one it failed to finish positive it was -10 bps in Jan12). Results below for AAPL and SPX returns the day of and day after earnings. AAPL represents 4.63% of the SPX as of last night's close (XOM 2nd 3.3%).

Date SPX Return SPX Return AAPL Return AAPL Return
Day of Day After Day of Day After
Apr 23, 2012 .37% 1.36% -2.00% 8.87%
Jan 24, 2012 -.10% .87% -1.64% 6.24%
Oct 18, 2011 2.04% -1.26% 0.54% -5.59%
Jul 19, 2011 1.63% -0.07% 0.82% 2.67%
Apr 20, 2011 1.34% 0.53% 1.34% 2.39%
Jan 18, 2011 0.14% -1.02% -2.27% -0.53%
Oct 18, 2010 0.72% -1.60% 1.03% -2.71%
Jul 20, 2010 1.14% -1.29% 2.54% 0.93%
Apr 20, 2010 0.80% -0.10% -1.01% 5.81%
Jan 25, 2010 0.46% -0.42% 2.66% 1.40%
Oct 19, 2009 0.94% -0.63% 0.96% 4.58%
Jul 21, 2009 0.36% -0.05% -0.92% 3.39%
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