02/20/2014 Live Update

[Al_Dente]

Up-volume kicks in, top panel green, 2.3-to-1, bull
NYSE advancing issues just 1800
Volatility still in the bear-spy camp at the moment

[Cobra]

members only update at 11:14 am
http://www.cobrasmarketview.com/2014/02 ... ay-update/

[Mr. BachNut]

$ Yen has been forming a bit of a rectangle the last few days. Hourly shown.
There is also some action that suggests morphing into an ascending triangle.
You can also see a plausible IH&S taking shape.

As the correlation with equities is quite tight, I am inclined to think that resolution of these patterns will be a directional tell for going forward.

[Cobra]

probably this pullback would be bought.

[TWT]

$FAZ: More sideways could be forming an IHS

[TraderGirl]

Sometimes waves can morph into other wave counts...so this could be an abc up, with a possible fib time signal on the Dow around 8am PST...so keep an eye on a possible deeper pullback??

Deeper pullback indeed...now this is what I am watching on the one minute...to see if this is an abc pullback or develop into 5 waves for "a"....

[fehro]

a little talk of playing the TVIX yesterday... minor invs H&S 15m chart... IF it plays out...

[TraderGirl]

If price cannot make a higher high then perhaps this is wave "i" down....if price makes a higher high, then there would most likely be more up....because instead of being abc up, then it would turn into 5 waves up for "a"...

But I am favoring the bear side because financials leading down..

[TraderGirl]

Al, you got any opinion on internals right here?

[uempel]

Intraday Bullish Percentages: All up except BPINDU and BPNDX:

http://stockcharts.com/freecharts/candl ... ,$BPINDU|B

[uempel]

SPX update:

[TraderGirl]

small h&s possibly developing on SPY....FAS underperforming...need break either way...

[Cobra]

triangle, so bias still up but might be the last push up.

[MrMiyagi]

dia

[fehro]

SPX 5m.. struggling here at the green channel.. we pop... new blue channel? still within the red minor bearish rising wedge..

[Al_Dente]

Al, you got any opinion on internals right here?

Intraday internals bull bias for now
but volatility still bear spy

[Cobra]

breakout, here's the text book target.

[fehro]

SPX 5m

[TraderGirl]

Higher high on SPY indicates possible 5 waves up for "a", so this could be possible path...

[Cobra]

this bull might still have another leg at least.