10/01/2013 Live Update

[jack black]

Gold futures have tanked. Down to 1297 now from 1331 2 hours ago.

Very much so indeed. I wonder why?

[fehro]

One gap filled, one to go.. some new trend lines... still pressing into a resistance area ... SPX 60m

[jack black]

JNK and HYG not confirming equity bullishness today.

All bonds are tanking now. JNK:TLT is not doing too badly.

I think it will take at least a couple of days of buying in equities to offset all that selling lately. Who knows, maybe even new high? Major topping is a painful process to everyone (bulls and bears).

[Cobra]

might see pullback here which likely would be bought later.

[fehro]

Gold futures have tanked. Down to 1297 now from 1331 2 hours ago.

Very much so indeed. I wonder why?

we broke out of a mini bear flag... GLD.. $GOLD is not updated until end of day..

[Mr. BachNut]

Someone was asking about gold the other day.

Trading range broke to the downside.
Moving averages are sloped down.
There is a head and shoulders pattern that is completing (lavendar neckline). The target is a trip to the June low.
The red line at $1276.60 is 61.8% Fib support. Avoiding a close below that may be last stand for bulls.
Signals on last/first days of month can be deceptive (may be initiation of a move, may be a trap).

Looks like were on our way to the June low for a test.
Follow through, particularly the weekly close, would be confirming.

[RealMoneyIssues]

This market is NEVER going down...

[Cobra]

consolidate instead of pullback, bullish, now 100% mm target met. my guess is another pullback here which likely would be bought again.

[MrMiyagi]

This market is NEVER going down...

And no one cares if there is a government in the USA!!

[Cobra]

members only update at 11:54 am
http://www.cobrasmarketview.com/2013/10 ... ay-update/

[Cobra]

very tiny pullback, so the bias still is up.

[TWT]

$SPX: Instead of an ED price could be unfolding a wave (B)

[Cobra]

now 3rd attempt to pullback, this time might be a little little bit larger which of course would be bought later.

[fehro]

SPX 15m.. another area of resistance.. Gap is still open in this area.

[Cobra]

indeed larger pullback.
h1 on ema20, not sure.

[fehro]

closer view SPX 15m... Obama speaks at 1:30 EST?

[MrMiyagi]

QQQ

[Cobra]

H2 on ema20. let's see.

[Anaconda]

1694.png

...also pbar on the SPY, down to 168.01, fwiw.
Sayonara.
A

[fehro]

possible minor H&S on SPX 5m