7/16/2013 Live Update

[Cobra]

support is clear on the 15 min chart.

[PanamaJack]

nydec = >2000

Using a double-secret chart I stole from somewhere. Thanks Al!

Internals

[fehro]

SPX 15m..could bounce here and form another RS... but could also just break support... RUT 60m is on support

[MrMiyagi]

IWM

[Al_Dente]

nydec = >2000

Using a double-secret chart I stole from somewhere. Thanks Al!

7-16-2013.PNG

no secrets
thx
GL2U

[Omnilayer]

12 PM: 60 min short was triggered and SPY confirmed by closing under it, so GAME ON. Stop loss is at 168.31

[Cobra]

rebound as expected, NORMALLY this rebound shall fail, the day low at least will be revisited. NORMALLY I say.

[Al_Dente]

the seven day run is over (okay, fine, it has stalled….)
last time (3 july) the “pullback” lasted one day
ONE DAY
let’s see if bears can AT LEAST touch gap support……..hey… maybe even fill the gap this time…. before ….. you know…..

[Copeland]

Forming a wedge here, looking for a retest of 15' support and then a target of 1672 on the futures.

[fehro]

the seven day run is over (okay, fine, it has stalled….)
last time (3 july) the “pullback” lasted one day
ONE DAY
let’s see if bears can AT LEAST touch gap support……..hey… maybe even fill the gap this time…. before ….. you know…..

716spy_png.png

we may close on it.... only to gap open down the next day... and make a beautiful island top... a bears dream

[geezez]

Remember, no POMO Wed and Thurs! A little down draft perhaps.
I'm trying out Cobra for the first time. Thank you for opportunity to follow along with you Cobra!

[Copeland]

Geezez -- good info. Thanks. Today's action is probably front running exactly that.

[Al_Dente]

the seven day run is over (okay, fine, it has stalled….)
last time (3 july) the “pullback” lasted one day
ONE DAY
let’s see if bears can AT LEAST touch gap support……..hey… maybe even fill the gap this time…. before ….. you know…..

The attachment 716spy_png.png is no longer available

we may close on it.... only to gap open down the next day... and make a beautiful island top... a bears dream

that would be soooo grizzly
back to now:
here's some color

[Mr. BachNut]

Look at red circle. ES found support at the 100 hour MA. A natural.

An hourly close below that would open up targets below.

[Cobra]

volume surge, ema20, let's see any pullback here.

[fehro]

the seven day run is over (okay, fine, it has stalled….)
last time (3 july) the “pullback” lasted one day
ONE DAY
let’s see if bears can AT LEAST touch gap support……..hey… maybe even fill the gap this time…. before ….. you know…..

716spy_png.png

we may close on it.... only to gap open down the next day... and make a beautiful island top... a bears dream

that would be soooo grizzly
back to now:
here's some color

716color.png

Would work perfect... bears would be caught.. not expecting.. making them nervous to jump in.. Bulls caught off guard... making them nervous to sell
.. followed by a face ripping sell off... no chance for anyone to get in

[Al_Dente]

[Would work perfect... bears would be caught.. not expecting.. making them nervous to jump in.. Bulls caught off guard... making them nervous to sell .. followed by a face ripping sell off... no chance for anyone to get in

38.2% fib retracement from the 24 june low would be 163.50 ish
I can hear SPY laughing at me as I type this

[fehro]

[Would work perfect... bears would be caught.. not expecting.. making them nervous to jump in.. Bulls caught off guard... making them nervous to sell .. followed by a face ripping sell off... no chance for anyone to get in

38.2% fib retracement from the 24 june low would be 163.50 ish
I can hear SPY laughing at me as I type this

Remember Ben talks tomorrow....at 10am EST

[Cobra]

pullback as expected, now key time because it's 2nd test of the day low, bears cannot afford to lose here.

[Al_Dente]

[Would work perfect... bears would be caught.. not expecting.. making them nervous to jump in.. Bulls caught off guard... making them nervous to sell .. followed by a face ripping sell off... no chance for anyone to get in

38.2% fib retracement from the 24 june low would be 163.50 ish
I can hear SPY laughing at me as I type this

Remember Ben talks tomorrow....at 10am EST

The Drinking Game:
Take a shot each time Ben OR a congressman says the “T” word