03/21/2013 Live Update

[Unique]

Today is traders' dream come true scalping SPY round trips..beautiful

[1der]

Hope this isn't the Bulls firing yup the BBQ for some lunchtime Bear Burgers

[McEnroe] You can not be serious[/McEnroe]

OOB - Not seeing a strong enough effort by the Bears and NewHighLand is so close for the Bulls. Add a little more fuel with one more shake out (third push down) and then ES bounce to 1560 area. Just watching right now. I need to see a strong break of LOD.

dammit I closed my shorts too soon and for the very reason you cited. i also did not see enough downward push. oh well, still had a very good day

Glad the day has been good. Let's see what happens from here. Come on Bears !!!!

[Kato]

Is another cyclical period of deflation dead ahead?

The following chart is a reproduction of a chart developed by Erik Swarts at marketanthology.com

If one measures performance of the SPX vs the Silver:Gold ratio since the start of what many refer to as the beginning of the secular bear market in March 2000, you can see that when the weekly performance of the SPX exceeds the Silver:Gold ratio performance, a period of significant equity weakness ensues. The crossover represents an inflection point in the divergence of these two reflationary measures.

The study has no statistical veracity because of the single occurrence of a crossover in 2007. However, it is helpful in developing an overall perspective on where we are vis a vis the reflation/deflation debate.

[Cobra]

volume surge, biggest bar, may see rebound here first but this bear shall have legs.

[Unique]

Where is Unique with APPL analysis? Looks like it wants to turn up on the hourly time frame.

Busy trading today, didn't get a chance to post during PM. You can check blog if I don't have time to post here.

Here's AAPL, ES + GS Update

GS Update, this is fun

[Al_Dente]

Blue line/arrows = guess only, pending further pasta work…

New toy (new to me) stockcharts.com
Put date/time axis below any panel that needs it

[TraderGirl]

could see a low of some kind today...?? tomorrow is a turn day...

[toddymc]

$SPX: The Potential Zig Zag down from yesterday´s hod

So far so good but is there a possiblity of 3rd wave extending? this just doesn't feel- look done yet.
Updated SPY put chart for comparison:

[Cobra]

rebound as expected, way too strong than I'd like to see so once again bears have to pray.

[Tabby]

R2K 941.41 hits the second time ( first time 941.44 on March 18) and dip buyer Scheme worked again.

[Al_Dente]

[Denali92]

3 things:

1) Gravestone Doji candlestick possible today - looks very much like Feb 28th....

2) MDY was Hourly OB yesterday on an MFI basis - amazingly it is STILL MFI OB .... Lately, we have bottomed when we have been MFI OB on the candlestick where we exit the OB state (below 75) .... which is rare itself... but does happen.... anyway, looks like we still have more to go before we can bottom....

3) We were 10 min OS so a bounce is likely - possibly just like the 12:20pm bounce on Tuesday, as that hourly OB condition needs to be exited.

-D

[Cobra]

my guess and it's a common pattern anyway.

[TWT]

$SPX: the low of the day can be in place

[Mr. T]

"We're never going down again!!!!"

[Cobra]

members only update at 2:24 pm
http://www.cobrasmarketview.com/2013/03 ... ay-update/

[MrMiyagi]

"We're never going down again!!!!"

This week is Cyprus week. Next week it will be forgotten.

[kenttown]

"We're never going down again!!!!"

This week is Cyprus week. Next week it will be forgotten.

Yeah til more earnings disasters.

[Cobra]

members only update at 2:33 pm
http://www.cobrasmarketview.com/2013/03 ... ay-update/

[Al_Dente]

UEMPEL
http://www.youtube.com/watch?v=Hdlz6QzyAVA