11/30/2012 Live Update

[Wallstreetrader]

Daily ES seems formed an H&S and Rising Edge Hourly

D


H

[Mr. BachNut]

A little short. Starter position.
Put it on overnight.
This is not per a studied setup for me (probably a mistake then ).
I have left room for some drawdown if the S&P has some higher highs from here.

The argument was based on McClellan Osc. getting into overbought territory while indexes, certain currencies and volatility reaching resistance zones.
There are good arguments for higher highs and additional resistance zones beyond the current area, but this neighborhood has decent potential for a reversal too.
So, worth a shot.
I also have a thesis that there will be some tax related distribution in the first half of December.
Usually there is some tax loss selling, but this year we may also get some tax gain selling as rates are scheduled to go up.
So, the scenario is some bouncing around next few days perhaps with some additional highs and then a decline.
Assuming we get a trip down, I'll be watching the action around the 200 day MA closely.

My trend indicator composite is still down.
If this flips to up next week or the index goes on a tear, I'll stop this thing out.
My summation index indicator is bullish. So, I don't have much conviction about this trade.

[Al_Dente]

What to expect on a chop day = choppiness… for now
1min

[uempel]

Looks like boring day - but each time I quit my trading station to do something else on a boring day like today I miss some wild move Anyway, I'm going to take my eyes off the screen for an hour or so...

[Aussie]

Hi Everyone, My wife and I have just returned from a 2 week holiday in Bulgaria - it was fantastic. Google "Rila Monastery" - it was about a 2 hours drive south of the capital, Sofia.
While in Sofia one of my favorite singers, Macy Gray, performed at the NDK. For 60 Lev (about $40) I got to stand a few feet from her while she performed - amazing.
Anyway - have I missed anything while I've been away?
Glancing at my charts it seems that there has been a significant divergence 1) between the bond market and the sharemarket, 2) between the Shanghai index and the sharemarket and 3)
the currency markets and the sharemarket. There are 2 ways that this could correct - either by dramatic shifts in bonds (lower prices and higher yields), Shanghai index (up) and
Currency markets (higher AUD) OR by a significant fall in the sharemarket.

[KeiZai]

gold nearing support

[Al_Dente]

Relative strength
Dow and banks and tran are weak links

[BullBear52x]

A little short. Starter position.
Put it on overnight.
This is not per a studied setup for me (probably a mistake then ).
I have left room for some drawdown if the S&P has some higher highs from here.

The argument was based on McClellan Osc. getting into overbought territory while indexes, certain currencies and volatility reaching resistance zones.
There are good arguments for higher highs and additional resistance zones beyond the current area, but this neighborhood has decent potential for a reversal too.
So, worth a shot.
I also have a thesis that there will be some tax related distribution in the first half of December.
Usually there is some tax loss selling, but this year we may also get some tax gain selling as rates are scheduled to go up.
So, the scenario is some bouncing around next few days perhaps with some additional highs and then a decline.
Assuming we get a trip down, I'll be watching the action around the 200 day MA closely.

My trend indicator composite is still down.
If this flips to up next week or the index goes on a tear, I'll stop this thing out.
My summation index indicator is bullish. So, I don't have much conviction about this trade.

Yeap yeap MO day it is, down market today will confirm my MO sell signal.

[Royal Flush]

Hi Everyone, My wife and I have just returned from a 2 week holiday in Bulgaria - it was fantastic. Google "Rila Monastery" - it was about a 2 hours drive south of the capital, Sofia.
While in Sofia one of my favorite singers, Macy Gray, performed at the NDK. For 60 Lev (about $40) I got to stand a few feet from her while she performed - amazing.
Anyway - have I missed anything while I've been away?
Glancing at my charts it seems that there has been a significant divergence 1) between the bond market and the sharemarket, 2) between the Shanghai index and the sharemarket and 3)
the currency markets and the sharemarket. There are 2 ways that this could correct - either by dramatic shifts in bonds (lower prices and higher yields), Shanghai index (up) and
Currency markets (higher AUD) OR by a significant fall in the sharemarket.

Hi Aussie, Great to hear about the wonderful time you and your Shiela had on holiday. I don't know about other currencies but the Canadian $ has been trading sideways the last few days while the SPX has worked it's way higher.

[Al_Dente]

30 min

[Claudio.dicorato]

Hi,
Your vision is ever bullish?
Isn't strange that sp500 don't go with force upper?

[Cobra]

members only update at 11:26am
http://www.cobrasmarketview.com/2012/11 ... ay-update/

[L_T]

Someone here uses 13 and 1 settings for their Bollinger bands correct? Can you please explain to me why those settings are better than the 20 and 2 settings that are the standard? Also why does that work better for you than say Keltner channels? Thanks in advance.

[Cobra]

3rd test of the support, key time, wait.

[Cobra]

looks like the support won't hold.

[Cobra]

possible target.

[KeiZai]

A little short. Starter position.
Put it on overnight.
This is not per a studied setup for me (probably a mistake then ).
I have left room for some drawdown if the S&P has some higher highs from here.

The argument was based on McClellan Osc. getting into overbought territory while indexes, certain currencies and volatility reaching resistance zones.
There are good arguments for higher highs and additional resistance zones beyond the current area, but this neighborhood has decent potential for a reversal too.
So, worth a shot.
I also have a thesis that there will be some tax related distribution in the first half of December.
Usually there is some tax loss selling, but this year we may also get some tax gain selling as rates are scheduled to go up.
So, the scenario is some bouncing around next few days perhaps with some additional highs and then a decline.
Assuming we get a trip down, I'll be watching the action around the 200 day MA closely.

My trend indicator composite is still down.
If this flips to up next week or the index goes on a tear, I'll stop this thing out.
My summation index indicator is bullish. So, I don't have much conviction about this trade.

Yeap yeap MO day it is, down market today will confirm my MO sell signal.

C´mon gimme your stuff

[Claudio.dicorato]

Hi cobra,
But the pull back ( in member session) is not the starting of red WAWE? Why you don't Think that we can start the movment that you have says?

[Aussie]

I'm just back in Australia after galloping around Europe and so still jet-lagged. I've attached a comparison of the AUD and SPX which would suggest a target of 1395. Have a look at the ticker - CRB - the commodity index. It is also showing a fall which would reinforce the China signal.

[Petsamo]

I don't think IWM busted yesterday's high. SPY didn't bust yesterday's high. If the bears mean business, they need to bust yesterday's low.