09/18/2013 Live Update

[Tutti]

I see most of the blogs are bearish. It would be interesting if the markets blasts off upward after the FOMC meeting.

Really? Most of the bloggers and twitter "experts" are insanely bullish on my stream. Those traders are still buying breakouts (not day trades) and carrying leverage right into the meeting...

[Vaamsy]

I don't see any immediate positive divergence in VIX/VXX, neither UUP. Likewise I dont see -ve div in spy or RUT. Looks like there is one more good push up and then down.

[stlwater]

I see most of the blogs are bearish. It would be interesting if the markets blasts off upward after the FOMC meeting.

Is that right? I thought all bears were slotered?

"slaughtered" Yeah, we are. Quivering pieces of raw meat. Bloggers don't count because they rarely tell you what they are trading in RT. I'm going long here and selling here would actually be helpful, but no. It's usually I WENT long here and SOLD here, aren't I smart?

[jack black]

not sure if higher low was formed, wait.

Not in XIV, IWM, or QQQ. Looks like there are some leaks from Fed.

[Cobra]

no higher low, the pullback still has small legs at least.

[SigmaEcho]

no higher low, the pullback still has small legs at least.

europe futures boucing up strong since 10.30.

spx, run stops before the pop?

[MrMiyagi]

two for one

spy

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spy5

[Cobra]

double top target met. the pullback may still have small legs at least.

[Al_Dente]

The Axis of Evil
[edit: RSI=14]

[stlwater]

If the Fed begins a planned withdrawal from the market (tapering) however large the initial taper is, the signal to the market is that market forces will reinstate themselves. Since the fed began QE this correlation has been laid to waste.. Everyone knows that the commodity correlation with the market ended in 2011.. Commodities are either cheap or the market is overbought. Since commodities are bought and sold for real purposes (not necessarily as "investments") they should and likely do represent true valuation. So, step back and look at the market vs commodity prices. So will commodities rise and the market rise further? Will commodities continue to trade in range or even fall with the market? Or will they rise to meet a falling market? That's why I see this turbulence (volatility) as traders adjusting to the new paradigm. The big institutions are likely selling to bag holders.. The market is where it is right now because of the Fed.. it's another bubble... Europe has been quite but how long before another european implosion? German election at the end of this month... could have a big effect on the euro.

[quientuves]

German elections at the end of this week, not the month. Exactly, Sunday, September 22.

[jack black]

If the Fed begins a planned withdrawal from the market (tapering) however large the initial taper is, the signal to the market is that market forces will reinstate themselves.

There is no if, there is only when and how much. Contary to the popular belives and propaganda, QE actually makes the bond yield go up. High yield kills mortgages and this very indepted country too. Bennke is no fool and he well knows that. This country (as well as Japan) cannot tolerate high yield and QE will have to interrupted to bring the yields down. That means equities go down, and eventually will meet the commodidies price wise, mistery solved.

[Al_Dente]

nydec = 1959 (stockcharts) or 2000 (schw)
VIX agrees

[FlowerGirl]

New pBAR says a lot about Algoes plan. Thanks for sharing.

two for one

1610.png

1611.png

[fehro]

moment of truth for ascending triangle... but upward channel broke...SPX 5m

[stlwater]

If the Fed begins a planned withdrawal from the market (tapering) however large the initial taper is, the signal to the market is that market forces will reinstate themselves.

There is no if, there is only when and how much. Contary to the popular belives and propaganda, QE actually makes the bond yield go up. High yield kills mortgages and this very indepted country too. Bennke is no fool and he well knows that. This country (as well as Japan) cannot tolerate high yield and QE will have to interrupted to bring the yields down. That means equities go down, and eventually will meet the commodidies price wise, mistery solved.

Yes, the question is will commodities break out and rise to meet falling equities are wait at these levels.. and what will equities do once the prices are in line? Still some mysteries to solve.

[fehro]

SPX 15m.. mind the gaps if the we start to move down...

[stlwater]

P.S. Jack Black is great. Would love to hang out with him.

tenacious-d-in-the-pick-of-destiny-1.jpeg (13.27 KiB) Viewed 8548 times

[Al_Dente]

Transports are weak, even though FDX reported better-than-expected eps and gapped up today
IYT hourly

[MrMiyagi]

Zee bottom?