08/24/2015 Live Update

[Cobra]

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This bear shall have legs. ES rarely leaves unfilled gap, so in the future (days? weeks? months?), it would come back at least to fill the gap.

[Unique]

Hourly close below ES 1890 would be paradise...!!!!!!!
Opening up for that immediate 1813 possibility, holy moly

edit: Reposting levels from weekend thread ---------------------

ES quick update:

Since price is near 1900-1890 target already much earlier than expected. It is important to note that if we get two consecutive hourly closes below 1890 then real panic sets in along with a larger than expected feedback loop of trapped traders and margin calls. There is no MAJOR support until 1813 (the Oct 2014 lows) if price breaks below 1890. All in all, impressive violent and fast paced breakout of the 2134 vs 2034 range. Good thing I was prepared for this
Updated ES levels:

Bull: 1945, 1962, 1980, 2000

Bear: 1900, 1890, 1865, 1851, 1813

A daily close below 1890 opens up the possibility of immediate target of 1813. Good luck, embrace the volatility!

[fehro]

SPX.. filling gaps on the way down..

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2015/08 ... ay-update/

[Unique]

SPX.. filling gaps on the way down..

But fehro what about that SPX 811 gap on April 1, 2009??

[fehro]

/ES into thin zone.. vol support 1880-4

[Unique]

Just for reference...if we do need it...

Circuit Breakers -NYSE

Specifically, the circuit-breaker halt for a Level 1 (7%) or Level 2 (13%) decline occurring after 9:30 a.m. Eastern and up to and including 3:25 p.m. Eastern, or in the case of an early scheduled close, 12:25 p.m. Eastern, would result in a trading halt in all stocks for 15 minutes. If the market declined by 20%, triggering a Level 3 circuit-breaker, at any time, trading would be halted for the remainder of the day.

A Level 1 or Level 2 halt can only occur once per trading day. For example, if a Level 1 Market Decline was to occur and trading was halted, following the reopening of trading, the NYSE would not halt the market again unless a Level 2 Market Decline was to occur. Likewise, following the reopening of trading after a Level 2 Market Decline, the NYSE would not halt trading again unless a Level 3 Market Decline were to occur, at which point, trading in all stocks would be halted until the primary market opens the next trading day.

https://www.nyse.com/markets/nyse/market-model

[jungle trunks]

Looks like the markets are going to open down over 5%. That's a whopper.

[uempel]

Checking charts:

Long Term linear chart, weekly SPX

1998

1998

[Unique]

ES S&P limit halted 5%

[Unique]

ES almost at target 1813, current price 1831. Might need to cover

[Cobra]

way too stretched, should be a rebound first.

[Unique]

I'm long TSLA+GOOGL shares vs morning low

[uempel]

DAX: all time high a few weeks ago at 12395, today's low 9350 - that's a 24% correction

[Unique]

I'm long TSLA+GOOGL shares vs morning low

Done for the day, will keep the TSLA+GOOGL shares for a few days vs today's low. Probably should had bought QQQ instead, oh well.
No need to overthink things

[uempel]

Update:

[Tutti]

Holly fuck. What an open. Did we just see a crash ~10% from the highs?? -70:1 adv/dec to the downside at the morning highs. Wowwy.

[finman66]

Anyone seen Cletus ??

[fehro]

Weeklies quick glance at horizontal support.. fwiw..

[Tutti]

Anyone seen Cletus ??

...that guy