08/09/2013 Live Update

[Al_Dente]

nyadv 1300…..now 1200
nydec 1300….. now 1400
bears improving slightly….. but still a chop day… so far

[TraderGirl]

Dow...that could be it....truncated wave 5??

[Claire]

Cobra -- update on AAPL??? thanks

[fehro]

SPX 15m

[Mr. BachNut]

1/2 Short.
My summation index signal is down.
My composite trend indicator signal is up.
I have a chunk of a summation index trade left on as a runner and it ain't runnin'.
While indexes have not moved much in recent days, I think my summation index is revealing a lot of correcting going on under the surface of what is still an uptrend.
At some point a threshold may be reached whereby the indexes will step down too or the corrective action may finish without much index damage and the uptrend resumes.
I have no clue which it will be.
I am honoring the short setup for now but I am not too excited about it. May call an audible depending on how things unfold.

mr b:
what does this mean "May call an audible"
thanks

My trade setups are structured to exit on one of: a) oversold/bought condition, b) counter signal in the other direction or c) stop loss.
However, if the trade action is funky and inconsistent with the condition/analog/fractal/etc. the setup is trying to exploit, I reserve the right to over-ride the setup and exit on a discretionary basis.
I call that an audible. It is a borrowed term from football.

http://www.urbandictionary.com/define.p ... %20audible

I try to avoid doing it because what you save on good audibles can be given up in spades when a bad audible shakes you out of a good trade.

[daytradingES]

SPX 15m

breaking your red uptrendline line?

[Al_Dente]

GDX, NUGT
Hourly

[fehro]

SPX 60m

[user13]

Possible Double top

[Al_Dente]

My trade setups are structured to exit on one of: a) oversold/bought condition, b) counter signal in the other direction or c) stop loss.
However, if the trade action is funky and inconsistent with the condition/analog/fractal/etc. the setup is trying to exploit, I reserve the right to over-ride the setup and exit on a discretionary basis.
I call that an audible. It is a borrowed term from football.
I try to avoid doing it because what you save on good audibles can be given up in spades when a bad audible shakes you out of a good trade.

Thanks mr b
Off topic:
“Nobody wants to buy a computer … NOBODY”
[Woz to Steve, in the garage, from the new movie “Jobs” ]

[rhight]

A possible ABC (wave 2?) bear flag is breaking as we speak. Could it be that an actual intermediate downtrend is continuing? Imagine that.

[fehro]

SPX 15m

breaking your red uptrendline line?

yup..

[Al_Dente]

Old news:
“Fed Officials Signal Tapering Is Possible at September Meeting”
http://www.bloomberg.com/news/2013-08-0 ... eting.html

[fehro]

watch the neckline... could get extremely ugly... SPX 15m

[user13]

Wow what a violent move

[Cobra]

volume surge, biggest bar, so might see rebound here first then we'll see.

[Al_Dente]

watch the neckline... could get extremely ugly... SPX 15m

u r on spx
thx boss
here's my neckline on spy hourly

[Cobra]

members only update at 11:33 am
http://www.cobrasmarketview.com/2013/08 ... ay-update/

[fehro]

well moment of truth... for the H&S.. but be aware of a head fake... could close below it.. only to gap up on Monday and negate it... or gap even further down on Monday... again not to let anyone in or out...

[fehro]

The attachment SPX 08-09-13 Weekly Report 15min.png is no longer available

A possible ABC (wave 2?) bear flag is breaking as we speak. Could it be that an actual intermediate downtrend is continuing? Imagine that.

]

Need the VIX to break above .. to confirm?