07/17/2014 Live Update

[fehro]

SPX 15m

[FlowerGirl]

SPY to 197.21 by tomorrow noon.
I must be loosing my marbles talking to totally non receptive audience.

Read above carefully. Had you invested based on this info, you would be on the right side of the trade before the tragic plane crash. Also Algoes have no control on accidental events such as crash of an airplane.

Save your eggs. Make some omelette, provided you didn't pick the rotten ones

A rebound now is in doubt

[DellGriffith]

Gold jumped big but it still needs to keep going a lot higher to fix the technical damage imo.

[Cobra]

mini rebound target. exceed it to make more leg up possible.

[MrMiyagi]

Is the panic over yet?

[jack black]

*INTERFAX SAYS PLANE MAY HAVE CRASHED NEAR RUSSIA-UKRAINE BORDER
*MALAYSIAN BOEING 777 MAY HAVE CRASHED IN UKRAINE: INTERFAX
*MALAYSIAN PASSENGER JET WAS SHOT DOWN AT 10 KM ALTITUDE: IFX

The crash happened near Donetsk and the plane had 280 passengers on board. The question is - accident? Or was it shot down by Russia or Ukraine as a provocation.

I'm sure it's the Russian separatists. They are quite trigger happy to shoot down anything flying over them. I'm sure Russia will say Ukraine did it. Ultimately we will never know like we don't know who killed those poor 11 souls in the recent apartment airstrike.

Edit, it could also be also Russian fighter jets. They just shot down an Ukrainian Su25 this AM (according to official Ukrainian news, the pilot ejected and survived, so there is a witness, Russians deny it of course), may be they thought another one was coming? Russians/Soviets have a history of shooting down civilian airliners in the past.

Update, the russian separatists bragged about shooting it down using russian BUK SAMs.
Source: https://twitter.com/MiddleEast_BRK

Those rocket have a range up to altitude of 82000 feet, so it's possible.
http://en.wikipedia.org/wiki/Buk_missile_system

[Al_Dente]

In the past, a large red volume dump like this on the hourly has been seen providing at least a temporary pause in the downturn
We are also near 61.8% support and double-bottom support
……we’ll see…….

[Mr. BachNut]

It looks like the 197 and 198 strikes are the battleground for OPEX. Hard to say where the market would be without OPEX.

agree. . . but 2 points earnings tonite are important in the sense they can drive prices short term. further on any sell 196 spy has a decent cluster of open int. Further in general--if you look at the so far 4 overlapping daily price bars this week (so key earnings week) to me that doesn't look like buying it looks like minor "lightening up". just an opinion as always--but i think they bot it (spy/spx) thur and fri last week "on earnings coming" and this week have just more or less slightly sold into the highs. i have no idea if earnings are good or bad (i just watch intc and ibm a bit as they are old trading tools) but this is not what i would call a strong positive reaction to earnings. if that is so--that may mean we are looking past earnings--eg placing earnings in a larger context.

Yes. Trade at 197 brings 196 into play. 198 still in play. (Other strikes too are in the realm of possibility.) Events and the options book will intermingle.

[Cobra]

exceeded mini target. this rebound shall have legs.

[FlowerGirl]

Rebound began `12:10-15, predicted was 12:14 viewtopic.php?f=2&t=1365&start=100#p166728
If no plane crash news price would have stabilized ~197.21 (no way to test this assumption).

[fehro]

SPX 15m.. re-testing blue wedge / mid channel of sorts.. resistance here

[Al_Dente]

Volume breaking to lower lows confirms a turn
Middle panel NAUD just went lower low
Bottom panel, small caps, last week LL
But these are lagging signals, not leading

[DellGriffith]

Is it macabre of me to want to short gold off this news?

[DellGriffith]

Reminds me of when democrats were pushing for tougher gun laws after the Sandy Hook shooting. I was watching gun stocks at the time and the price of RUGR (Sturm Ruger) dropped huge. Turned into a massive buying opp because it soared after that.

[tomsky]

Is it macabre of me to want to short gold off this news?

You're overthinking, if your system says short go ahead, don't do Nieztsche stuff... According to your judgement everybody who was short in 2008-2009 should feel guilty about it?

[Varaha]

I was puzzled by the block trade and pbar discussion yesterday.
Looks like the pbars reflect the block trade prices, right?
According to wiki: http://en.wikipedia.org/wiki/Block_trade
Institutions engaging in block trades may have informational advantage (=inside info) and thus those trades could be what we call "smart money."

Yea or nay?

No, silly. P-bars are caused by time-travelers shorting or buying as much stock as they can so they can make a good profit.

http://en.wikipedia.org/wiki/Primer_(film)

[merryme]

Msft laying of 18,000...http://www.usatoday.com/story/tech/2014 ... /12772901/

[DellGriffith]

Shorted more gold. I'm going to hell.

[Cobra]

this bull may still have legs, if not bottomed.

[fehro]

Shorted more gold. I'm going to hell.

LOL!