07/12/2016 Live Update

[uempel]

This is just for fun, not to be taken too seriously

For anybody expecting a correction: In 1998 financial scares in Russia and Asia (which had a limited impact on world economic growth) led to a massive correction in the US and Europe. SPX declined over 20 percent.

What's interesting is that the reversal started the day after July opex, this year the analog would be July 18th - that's next Monday. Unlikely such a massive move is due, but let's bear in mind ...

[BullBear52x]

The tick down under 39 this morning fooled me, from bull trap setup turned bear trap, if no 2x top here bears are so bacon-ed.

[fehro]

SPX double top area.. but over it.. looking for 2160.. RUT new HOD, VIX/VXX still holding up.. so far.. but showing weakness VIX red

gold continues to show weakness… /GC weekly.. outside reversal at theses levels.. far from a week candle close tho..

[sleeman]

sell covered, reverese to quick long

[BullBear52x]

sell covered, reverese to quick long

covered your short and went long? just want to clarify?

i am still short will not reverse to buy until the next dip buying.

[fehro]

INDEXes days.. INDU at ATH.. RUt nears resistance of sorts..

[JFR]

A little pause in the action ...

[sleeman]

sell covered, reverese to quick long

covered your short and went long? just want to clarify?

i am still short will not reverse to buy until the next dip buying.

correct, keeping an eye on 50es....but ready to switch back

[Mr. BachNut]

This is just for fun, not to be taken too seriously

For anybody expecting a correction: In 1998 financial scares in Russia and Asia (which had a limited impact on world economic growth) led to a massive correction in the US and Europe. SPX declined over 20 percent.

What's interesting is that the reversal started the day after July opex, this year the analog would be July 18th - that's next Monday. Unlikely such a massive move is due, but let's bear in mind ...

July 19th is major Bradley Turn Date.
July 20th at the open is July VIX contract expiration.

[JFR]

Tandem bike ride again, CL and ES.

[Cobra]

this bull shall have legs.

[Al_Dente]

Even USO pink is spiking up
15m

[Cobra]

members only update at 12:03 pm
http://www.cobrasmarketview.com/2016/07 ... ay-update/

[JFR]

"To the moon, Alice." Ha ha

[Al_Dente]

10 day % change
Top panel: cyan is small caps
Middle panel: metals dashed-brown WOW

[fehro]

SPY BBand top edge 215.26 at the moment

[Mr. BachNut]

This is just for fun, not to be taken too seriously

For anybody expecting a correction: In 1998 financial scares in Russia and Asia (which had a limited impact on world economic growth) led to a massive correction in the US and Europe. SPX declined over 20 percent.

What's interesting is that the reversal started the day after July opex, this year the analog would be July 18th - that's next Monday. Unlikely such a massive move is due, but let's bear in mind ...

The attachment 1998.png is no longer available

Also just for fun... the 1957 analog.

There have been two occasions when a flat year in the Dow has been followed by a steep January decline (1948 and 1957).
So far, 2016 has been following the '57 analog pretty well both in terms of price and divergences.
The divergences get better with today's all time highs.
A repeat is highly improbable but worth a watch out of the corner of one's eye...

[fehro]

SPX..VIX perks up again.. back to green.. nears HOD.. for more up.. need VIX to cool off.. NDX no new HOD

[Al_Dente]

SPY is now roughly >2.6 standard deviations (almost 3 std dev) above its 50-day moving average

[JFR]

The pause is over. Breakout. Ridin' the EMA 10.