02/09/2017 Live Update

[Mr. BachNut]

A disappointed Mr. B reporting in.
My flight to FL has been cancelled due to a winter storm.
So, my weekend of golf is kaput.

The NYMO cycle remains stuck in a purgatory.
Since mid-January it has been making lower highs and higher lows in a narrowing range about the zero line.
I am really not sure what to make of this.
Oscillators are supposed to oscillate.
Maybe the market is approaching a singularity of perfect value, price and oneness with the Universe...

Price punched up to new ATHs today and added a new gap to our collection.
One up target was hit, and I have added a new one at the upper keltner as there is nothing to say that this game can't continue.
The key low to indicate a change in trend appears to be the Jan 31st low at the moment.
My down targets are spreading out again, but there seems to be an upper bunch and a lower bunch.

I am flat.
I started the week short on an overbought setup.
I scaled out small profits Monday and Tuesday and at breakeven yesterday.
I left a small runner on last night just in case, but it was stopped out in the wee hours.
The runner will be journaled as leakage because the setup views overbought conditions as worked off by the 3rd day and calls for the trade to be closed.

I was kinda hoping this setup would turn into something bigger, but for all the work, I earned enough to get another nice flat screen tv.
It seems like I have a lot of trades each year that have shiny car potential but end up as TVs instead. So it goes.

Probably doing nothing today. As I could lose connectivity on account of the snow storm, mental stops will be made hard.

[Eddie]

Second Neg D. coming up, this is the thing about trend day once the divergence failed you will have to be fast(super fast ) to tag along the first key counter trend failed. now you will have to decide the same move or wait for the buy failed. I think most of us see all this just when to make move and recognize the failed move and to take that instant quick decision to follow is hard to do. that makes difference among us.

RSI5 on 30 min ES chart very hot. Likely limits upside, but unless coming into resistance, tough to pull that short trigger. I thought i might have a scalp at 98.75, but this market wants to go up, up, up.

right now I am going to sell under 301, sell the weakness move. that level is the stop for long. I am long right now since it's way overbought now I will reverse to sell under 301 or just let it runs.

Nice job. I can't bring myself to get long up here.

[Cobra]

members only update at 11:18 am
http://www.cobrasmarketview.com/2017/02 ... ay-update/

[BullBear52x]

Few trading ago I mentioned, sell the first counter trend if the first one failed, forget the second or third only one more time try on the weakness, this is what I mean.

[fehro]

SPX .. mind the yellow trend 60m.. VIX flat

[Eddie]

Neg RSI5 divergence on ES 30 min chart now erased on that last thrust higher, but sitting at a smoking hot 91

[BullBear52x]

The stop is moving target, /es is now 301.75 it's getting tighter HOD is close.

[fehro]

SPX/COMPQ/NDX all nATH NYSE almost there.. everyone else lats.. as VIX no where near lows..

[Trades with cats]

TF (Russel Futures) got into shorting range twice but the signal never fired, then the last half hour of London trading was the "tube" version of the New York's 3:30 Ramp Express. Maybe with no one left trading, given the east coast blizzard, we will be getting a change in direction.

[Al_Dente]

....Stop 103.53 TNA

raised stop to 104.38 (too tight)

[Trades with cats]

Hidden blessings department- Greatest odds of being struck by lightning are playing golf in the afternoon on the Gulf side of Florida.

[BullBear52x]

from my corner.

[Trades with cats]

Urban Camel this morning warning that on 60 minute chart RSI 5 over 80 is not a smart place to buy over the last two months.

https://pbs.twimg.com/media/C4O3YDaXAAIg5hH.jpg

[fehro]

SPX at resistance.. does it stick 60m yellow trend from Dec 2016

[Al_Dente]

....Stop 103.53 TNA

raised stop to 104.38 (too tight)

raised stop 104.77

[Trades with cats]

TF presenting a case for going short, I would like to see it get back down to 1376 to make the case. Looking like it will flat line for a bit first.

[BullBear52x]

303.5 /es is next, $vix is on a tick up a little now. I don't think we will get a meaningful weakness but who knows, got to take what in front of us then will see from there right?

[Al_Dente]

Urban Camel this morning warning that on 60 minute chart RSI 5 over 80 is not a smart place to buy over the last two months.

THANKS

[Al_Dente]

....Stop 103.53 TNA

raised stop to 104.38 (too tight)

raised stop 104.77

stopped out

[BullBear52x]

The Snakeville seems to be focus and clear mind today, Love it. hope it last for more than two days like this.