08/27/2013 Live Update

[fehro]

SPX 15m, 60m.. no pos divergence except a little on SPX 5m.. but still on the 5m needs another push down?

[MrMiyagi]

Shocker of the day-- KRE down -2.5%

Why should regional banks care if we bomb Syria? There must be something more structural going on, regarding rates.

Jimbo said people are tired of banks. Sheep follow.

[Al_Dente]

AL: your dome chart from the 18th weekend, still envogue? what if the start was 1 week prior at initial low, may have covered all the highs..Thanks!download/file.php?id=49551&t=1

dome

[Al_Dente]

Grachu:
Don’t press update
Press “save” or "save as" and give it a name

[fehro]

XLF weekly

[Cobra]

members only update at 12:59 pm
http://www.cobrasmarketview.com/2013/08 ... ay-update/

[Daniel-David]

SPY now breaking below last week's pivot low.

Next level of chart support not obvious...

[Al_Dente]

GRACHU
aapl also
did it work?

[rhight]

I'm posting this for exit ideas. Here is a swing trade I'm in. There was more tech analysis involved in the decision to short yesterday (on longer time frames), but I still limited my risk to only 0.1% of trading account. By shaving it thin and minimizing the price between entry and initial stop, I was able to buy more shares (SDS). 1/2 of the shares trail a stop on the hourly high, the other half are trailing at the 60 min 20MA, waiting to see how things progress on the daily. Ready to move the stop down depending on developments.

A couple things bother me about the decline since 8/2. Low volumes, and no panic. (And yet even with low volumes, price can drop 1% in a minutes.) It's kind of spooky to me. It's is difficult to commit to going major long until I see some PANIC!

[Cobra]

volume surge, overshot, might see rebound here first. still bears need do more to eliminate bottom pattern, otherwise still is hard call here.

[Zane]

inverted hammer is forming?

[Zane]

on the daily chart

[joegamma]

Crude oil has finally gone an hour without making a new high for the day.

However, NYSE up/down volume and breadth continue to erode.

the nydnv:nyupv volume ratio is certainly bearish, and at higher levels than last week at this price level,

BUT (AsK DR AL Opinion), the dwnvolume seems pretty low for this late in the day, lower than yesterday and lower than the levels last week with spy here...

In your humble opinion Dr AL,
does this indicate complacency and heavy selling into the close perhaps?

I am short and looking to stay that way at least into tomorrow fwiw

[Daniel-David]

Jimbo said "people are tired of banks". Sheep follow.

Mr. Miyagi, can Jim Cramer still move markets? And he wasn't addressing the usually more stodgy regionals specifically. However... it’s a strongly negative commentary.

“Banks haven't yet seen any gains from this new yield curve, but they've seen plenty of fee declines. I think that, for the moment, people have had enough of them. This group has just died.....You feel like finding out if they are even still trading.

If you ask me, what is most worrisome about this market is where the earnings gains from these stocks are going to come from.”

Etc.

[TraderGirl]

Tomorrow is a turn date...my charts indicate a bounce...

[Al_Dente]

In your humble opinion Dr AL,
does this indicate complacency and heavy selling into the close perhaps?
I am short and looking to stay that way at least into tomorrow fwiw

declining-volume-to-advancing-volume ratio is 5 to 1
bear
declining-stocks-to-advancing-stocks ratio is 4 to 1
bear
decliners nydec 2400
bear
I don’t see complacency yet
IMHO

[MrMiyagi]

Mr. Miyagi, can Jim Cramer still move markets? And he wasn't addressing the usually more stodgy regionals specifically. However... it’s a strongly negative commentary.

Jimbo and the clown gang at CNBC can certainly influence the minions to cause short-term market moves! There are so many that follow the bunch.
For the most part though, and this is strictly my own opinion (although others share the same view), whatever CNBC says, they are late and can be used as a contrarian indicator .

[dowtrader]

Updating the day action , bear still in control clearly

[dowtrader]

update

[fehro]

I'm posting this for exit ideas. Here is a swing trade I'm in. There was more tech analysis involved in the decision to short yesterday (on longer time frames), but I still limited my risk to only 0.1% of trading account. By shaving it thin and minimizing the price between entry and initial stop, I was able to buy more shares (SDS). 1/2 of the shares trail a stop on the hourly high, the other half are trailing at the 60 min 20MA, waiting to see how things progress on the daily. Ready to move the stop down depending on developments.

A couple things bother me about the decline since 8/2. Low volumes, and no panic. (And yet even with low volumes, price can drop 1% in a minutes.) It's kind of spooky to me. It's is difficult to commit to going major long until I see some PANIC!

The attachment SPX 08-26-13 Swing Trade.png is no longer available

so the real selling may just begin in Sept?