10/08/2012 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.

Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.

Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.

I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to [email protected].


Gap down along the Friday's low, so I'm not sure if the gap will be filled or not.

Global ES has a little overlap but it's too small so I'll pretend that I don't see it at all. Generally this push down should have legs, the Fib confluences area around 1445 looks like a logic target which also is a very strong support area..

[Cobra]

weekly stock picks, no includes short picks. viewtopic.php?f=10&t=694&p=98785#p98785

[Cobra]

member only thread starts here: http://www.cobrasmarketview.com/2012/10 ... ay-update/

[Cobra]

For DAX, the only thing I can say is it's the 2nd test of the previous high, so key time, but still too early to call bear, say, bull vs bear, 50 to 50. For bears it's already good news because they're hopeless before now at least have 50% chances.

[gappy]

sense.png

Some year end guesses gathered by TickerSense. GLTA.

[Cobra]

I read gold chart as bullish, oil chart as bearish, neutral to bullish biased on Euro.

[TraderJoe]

News Highlights if you are interested;
GOLD - According to the World Gold Council (WGC), global central banks bought 157.5 tonnes of gold in the second quarter, up 63 percent quarter-over-quarter and up 137.9 percent year-over-year.
In fact, there is a school of thought that suggests euro zone members use gold as collateral for sovereign debt issuance to keep bond yields.\

Also - WORLD BANK: 'China Is Experiencing A Double Whammy'
World Bank slashed its outlook for growth in China to 7.7 percent in 2012 and 8.1 percent in 2013
For all of East Asia, the World Bank see 7.2 percent growth in 2012 and 7.6 percent growth in 2013. This is down from 7.6 percent and 8.0 percent.
"This is the slowest growth rate in the Asia Pacific region since 2001. It's even slower than the peak of the financial crisis in 2009," Hofman said.

[uempel]

Two important charts for today:

[Cobra]

the open.

[Cobra]

gap support.

[Petsamo]

I sold my CLF, bought many days ago, for a small gain. That's a signal for you guys to buy CLF

[BullBear52x]

GM,
I am smelling 144.71 SPY

[TraderJoe]

I sure hope your since of smell is on track...

[fehro]

not the cleanest H&S, was expecting a little more right S... but lower blue lines for bounce targets? and if not green?

[Petsamo]

GM,
I am smelling 144.71 SPY

If we don't dump, blame it on CLF, WLT, MCP, KOL, XME, etc

[BullBear52x]

VIX is back on a buy. i need to see a VIX smack down or the selling will intensify me thinks.

[BullBear52x]

GM,
I am smelling 144.71 SPY

If we don't dump, blame it on CLF, WLT, MCP, KOL, XME, etc

CLF barely trigger swing buy, I don't know if that one will hold.

[Cobra]

bond market closed today, so could be a very slow day with very light volume.

[uempel]

Update on the 120 min:

[Cobra]

member's only update: http://www.cobrasmarketview.com/2012/10 ... ay-update/