08/31/2012 Live Update

[toddcobbmd]

5 minute macd about to go to sell-side, and descending price channel pointing to bearishness? Along with pre-labor day bear bias?

[Al_Dente]

System has its drawbacks - but it's worth having a look. Still far away from a reliable buy real buy signal:

1.png

thanks uempel i've been watching that regularly and waiting waiting waiting
gl2u

[Cobra]

again, this bull should have legs. what a day, I shall say.

You are the man, Cobra. This is my first post on the message board. I saw your charts and began following your postings during the days and found your information to be helpful so I paid for a yearly subscription. I made enough money off of one trade to pay for your service. Absolutely worth the money. For everyone wondering, I have never talked to Cobra through any form of communication so this is a free endorsement for his service. Good job, Cobra.

Thanks and welcome aboard.

[Al_Dente]

Professor Miyagi returns Tuesday

IT IS POWER HOUR

press to reset.png (198.56 KiB) Viewed 3731 times

[Cobra]

nice. now forget about "this bull has legs". wait to see.

[Mr. BachNut]

TLT booming. Outperforming equities by 2x at the moment.

[uempel]

This 60min is streched and not very precise. But there is a strong signal - I'm not sure if it's this afternoon or Tuesday . Signals on the daily SPX chart and BPSPX chart point to Tuesday

58.png

Thanks, any guesstimate on the direction?

My best guess is that the market will try to break out to the upside and that the move will eventually fail. This scenario would also be great to trade. But it's only a guess. Ellipses only indicate a move, not the direction.

[Cobra]

guys, before the long weekend, take a little time to vote for me, thanks. http://stockcharts.com/public/1684859

[skittlesmds]

Is the theme of the day? "Revenge of the Whipsaw Algos"

[noob]

This 60min is streched and not very precise. But there is a strong signal - I'm not sure if it's this afternoon or Tuesday . Signals on the daily SPX chart and BPSPX chart point to Tuesday

58.png

Thanks, any guesstimate on the direction?

My best guess is that the market will try to break out to the upside and that the move will eventually fail. This scenario would also be great to trade. But it's only a guess. Ellipses only indicate a move, not the direction.

Most traders went on vacation already today. Tuesday will be the interesting day to watch.

[Cobra]

now it's ambiguous, I have both bull and bear target and no clue. wait.

[uempel]

Bulls don't want to push SPX higher prior to long weekend, that's for sure.

[Al_Dente]

longer 60 minute view:
Options traders are bear spy (third panel down, inverted vix)
While the futures volatility traders are not yet convinced (fourth panel down, xiv and inverted vxx)
They are inverted (or not in the case of XIV) so they should all move in the same direction of spy, ONLY for easy-on-the-eyes viewing

[TraderGirl]

Merely speculation...

but could be in the process of completing wave 3 as I posted before (not quite done yet), to form a wedge??

Plenty of resistance in the 32-33 area to contend with....

[Cobra]

maybe it's triangle. I don't pretend that I know everything. I'm clueless now.

[EvilTrader]

Last 2 years (2010,2011) jacksons hole trading days were :

1 - gap up
2 - dip in the morning pre-speech
3 - drift higher into close.

They changed the script slightly this year ?

I expected a lot of volatility today as i said in the morning.

If you plot an intraday trendline from yesterday prices, you will see a positive drift, so the script is the same, maybe with higher volatility.

I call for Cobras attention to a potential equity BUY signal today given VIX will close inside BB, after closing above yesterday .

If overseas market goes up monday (US-holiday) , maybe SPY will gap very high on tuesday.

[vikasrao]

My first post here Am a new subscriber.

Quick question, looks like VIX closes inside/within the upper BB today after closing outside of it yesterday, this is a buy setup right? Also, one thing to note is that it looks like $TRIN closes below 0.6 which usually is also a good probability sell setup. Thoughts?

Cobra, hope I'm not breaking any rules by quoting myself :p Would really like your thoughts on this. Thanks.

[noob]

maybe it's triangle. I don't pretend that I know everything. I'm clueless now.

Maybe SPY is trying to pin 141 for the weekly?

[Travelfrog]

FTSE100 looked to be getting stronger towards the end of day then tanked in last 5 mins to close near low of the day.

[Cobra]

triangle lower boundary.