07/31/2013 Live Update

[MrMiyagi]

DIA

[Cobra]

breakout as expected, this bull shall have legs.

[KENA]

1454.png

Yes and did you also get the SPY P Bar dn to 168.58...Look like a choppy week.

[MrMiyagi]

Yes and did you also get the SPY P Bar dn to 168.58...Look like a choppy week.

No, all I have open on SPY is in the update below;

[fehro]

SPX 5m... a messy invs H&S from yesterday... broke the neckline

[Cobra]

members only update at 10:56 am
http://www.cobrasmarketview.com/2013/07 ... ay-update/

[fehro]

messy 5m... but some new channel lines fwiw.

[Heck]

Sold to close QQQ calls and bot to open SPY puts

[1der]

Interesting -
VISA (V) beats EPS, announces buy back, receives raised targets from analsts and it is getting spanked, down 5%

Interest rate sensitivity maybe??? Those in the know, lightening up on V in adance of FOMC

[Cobra]

support. the pullback is larger than I'd like to see, so I'm neutral here, need see more bars.

[fehro]

RUT H&S still hanging in.. but on shaky ground

[fehro]

SPX 5m... that messy invs H&S.. seems negated now..

[rhight]

Greetings,

I know this is a day-trading forum, for the most part, and so these charts probably belong on the Weekend Update. At any rate, they put some perspective on the current price action. Here are three 5-Year charts showing the last 3 Cyclical Bull Markets. I'm not calling a Top to this Cyclical Bull, the set-up isn't there yet. But, you can see the set-up on the last two on the Weekly RSI. Both had retraces to the 40 or 78 Week MA (approx 200 and 400 day MA) before a final Top was put in, with about 5 months between the final Highs, before a Cyclical Bear set in. I suspect we are near an Intermediate High, after which we will see how the next Intermediate decline and rise set up. Also, note the similarity between the indicators for the first half of 2011, and now, on the 2013 chart. If the market does not continue to rise forever, then it is possible that we are in the Head of a multi-month H&S pattern as in 2011.

[Out of Bounds]

Long 169.27

[fehro]

VIX green... understandably ... FED minutes at 2:00pm EST today.

[1der]

Daily Chart of VISA

Bouncing now off gap area, but Gap not filled yet

[ALdaytrade]

Long 169.27

Perhaps put in a stop loss, because I see another weak day tomorrow.

[Out of Bounds]

Long 169.27

Added long 169.15

Edit - average is about 169.21

[fehro]

bounce on cyan dotted trend line?... or fill the morning gap?

[Al_Dente]

Intraday XIV is pulling down a bit with spy
the 5 day % shows its bull bias

The phenomena of the uber-bullish XIV (volatility-futures traders) is more pronounced on the 20 day % chart

I’ll wait until after 2pm before calling SPY a failed double top here [edit: triple top fail]
Reminder: Hilsreath’s (WSJ) last missive was that Ben et al are working on how to better communicate THE WORDING / THE LANGUAGE of the
“no taper yet” (bull) message.
That is what “everyone” is expecting.
Any wording counter to the expected “no taper yet” message would be a disaster [edit: I know......that's too obvious...]