05/24/2013 Live Update

[Cobra]

members only update at 10:27 AM
http://www.cobrasmarketview.com/2013/05 ... ay-update/

[quatzl]

http://www.youtube.com/watch?v=GqH21LEmfbQ

Watching ES, this song keeps playing in my head.

[BullBear52x]

http://www.youtube.com/watch?v=GqH21LEmfbQ

Watching ES, this song keeps playing in my head.

I know what you meant, internals= bears

[jarbo456]

triangle here may mean more down.

[uempel]

I'm not sure how important this 11:00 a.m. cycle is...

[BullBear52x]

I'm not sure how important this 11:00 a.m. cycle is...

567.png

Thanks, I smell something too.

[joegamma]

Come on bears, look at europe ready to plunge!

[BullBear52x]

While everyone sitting on their hands, here is simple set up on hourly chart on /ES nothing to be bullish about.

[Al_Dente]

Descending triangle
Bulkowski says it breaks downward 64% of the time

[RealMoneyIssues]

No fear, too many in the media pumping the the market, and everyone just seems to be bullish... Wouldn't be surprised to see a close of the gap and a push up to make a positive market into the week-end. Buy the dip mentality is still too strong, again, no fear.

Bears are going back to hibernate...

[joegamma]

No fear, too many in the media pumping the the market, and everyone just seems to be bullish... Wouldn't be surprised to see a close of the gap and a push up to make a positive market into the week-end. Buy the dip mentality is still too strong, again, no fear.

Bears are going back to hibernate...

I was thinking same thing yesterday, but closed some calls, blew out rest this opening (horrible lever at first)
LOOK AT HOURLY CHARTS FROM 4/9-4/15.....we might close at lows today and it will be a good "tell" if intraday buyers are too reliant on pomo activity...
support spys near 16340/50 area, GL

[RealMoneyIssues]

No fear, too many in the media pumping the the market, and everyone just seems to be bullish... Wouldn't be surprised to see a close of the gap and a push up to make a positive market into the week-end. Buy the dip mentality is still too strong, again, no fear.

Bears are going back to hibernate...

I was thinking same thing yesterday, but closed some calls, blew out rest this opening (horrible lever at first)
LOOK AT HOURLY CHARTS FROM 4/9-4/15.....we might close at lows today and it will be a good "tell" if intraday buyers are too reliant on pomo activity...
support spys near 16340/50 area, GL

I would agree that the technicals are showing weakness in some areas of the market, but overall it is a mixed picture. Besides, on a longer term basis (I am not a day trader), the technicals have been horrible predictors of the markets for the better part of 6 months. It would just be easier to buy, buy, buy and just have a trailing stop (wish I had done this, I would be up 50% instead of 10%).

No POMO today, yet we are still crawling up on low volume. I guess only time will tell.

"Here black swan, here, here, black swan"

[wayne0708]

Bear Flag?

[Cobra]

testing the morning high (range high), so still nothing to say but wait.

[Denali92]

REMEMBER no POMO today!

so there is not that extra juice to kick in....

only 3 other days without POMO - May 1st (down big on IWM),
May 3rd - Employment day where we jumped but then faded from 10:30am when there was no POMO
May 13th (candle so far looks very similar to today)

The market is conditioned to making lows no later than 10:30 am thanks to POMO - so it will be interesting to see if this bounce fails.

-D

[BullBear52x]

I got my evil hat on, let see how many handles will I get from 1641/es

[joegamma]

I got my evil hat on, let see how many handles will I get from 1641/es

turn that UP BB please, http://www.youtube.com/watch?v=2pOl8MlVveA

[Al_Dente]

Day three of VIX piercing the upper bolinger (20/2)
Usually, not always, after printing a “black filled bar” like yesterday, the VIX eases back down a bit…..

[joegamma]

some subtle difference in outcome when vix stays within prior black candle , hints at more vix up next few days?
http://stockcharts.com/c-sc/sc?s=%24VIX ... 1957&r=626

[BullBear52x]

I got my evil hat on, let see how many handles will I get from 1641/es

turn that UP BB please, http://www.youtube.com/watch?v=2pOl8MlVveA