10/07/2013 Live Update

[Cobra]

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The rebound overnight, so far looks like a Bear Flag, so the bias is a little bit on the downside. That said, for the past week or two, every morning gap down was bought aggressively. Let's see if today if of any difference (got to be one day different).

[Cobra]

weekly stock picks are here: http://www.cobrasmarketview.com/2013/10 ... ock-picks/

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2013/10 ... ay-update/

[stlwater]

Don't have time to explain why... but I believe that we are about to repeat a pattern that marked the 2007 top. That, or the 2011 top. Either way, a major top.

Initial target 156.50 SPY with possible dip below to 148.50.. Rebound (window dressing into the end of year) possibly making a new high. Support firming would likely coincide with debt ceiling resolution from which the rebound would begin. Just wild ass speculation on my part but you have to have a vision of what lays ahead and that's mine.

[TWT]

$USO: Big gap down below 0.618 R. Not interested anymore to go long

[Cobra]

dip is again bought aggressively. interesting.

[Daniel-David]

dip is again bought aggressively. interesting.

As long as there is non-resolution and uncertainty, market participants can't really fully commit to a sustained move in either direction.

JNK:LQD has just given its first warning, caution, mild sell signal (daily timeframe). The important high yield market is finally starting to get nervous...

[Out of Bounds]

Short 167.75

[stlwater]

dip is again bought aggressively. interesting.

Cobra, when I see dips like these (over the past week) bought I wonder if it is not actually buying that is bringing price UP but sell orders at a higher level as well as algos and traders covering at support.

and to piggy back on what Daniel said, many are unwilling to hold a position one way or another beyond support and short-term resistance.

FWIW it is treasuries, commodities, and volatility which are flashing "tells" to me.

[fehro]

SPX 15m

[Cobra]

members only update at 9:58 am
http://www.cobrasmarketview.com/2013/10 ... ay-update/

[Cobra]

morning hollow red bar again. $SPY
http://stockcharts.com/public/1684859/c ... /296353091;

[fehro]

SPX 60m. Be careful of the green trend line. It's the uptrend line from the Nov 2012 lows.

[stlwater]

SPX 15m

My channel lines are parallel (duplicated).

[L_T]

morning hollow red bar again. $SPY
http://stockcharts.com/public/1684859/c ... /296353091;

Do you consider the previous unfilled red stick a success or failure? I see the market did close lower but it took more than 1 day. Just curious.

[fehro]

VIX daily.. maybe a still a little higher... outside of the BB band.

[uempel]

Second time signal for Monday at 10:50 a.m. (approximately )

[TWT]

$SPX: Lower highs-HIgher lows ....Maybe price is forming a Triangle

[Daniel-David]

Currently intraday market underperformance from XHB and KRE (homebuilders, regional banks)... which have been market leaders most of the past year. They are domestically econo-sensitive.

XHB struggling to hold the key $30 level.

[fehro]

SPX daily. didn't quite tag the lower trend line today... yet. Tagged the 50day SMA.... question is do we hold and bounce or break.