08/15/2013 Live Update

[user13]

I don't get it, new reports say that the market is falling because of an increased likelihood of tapering buy gold and silver are steady....I wonder what is really going on

[uempel]

MA 55 at 1654 - a break of this level into the close would be real negative.

[Al_Dente]

VIX pierces upper bolinger band on the daily
SPY pierces lower band

[jademann]

What was going on was the VIX was indicating that the market was flying on fumes. SPY had to drop to a sensible level.

[fehro]

VIX daily.. 50d SMA 14.88

[daytradingES]

Selling at/near open was the only real trade and I wasn't ready.
Now it is below my breakdown level, so the only trade is short but given the depth of the o/n fall it is hard to see how much further it will go - perhaps not much. So no reason to rise and has fallen enough for one day...
Could be a narrow along the bottom day.
I do have a formula for big gap days which gives 72 to 60.5 =11.50
We have 69.25 to 56.50 so 12.75 already..

edit :
minus 2.75 to make 72 = 69.25,
60.5=> 57.75 -- so 56.50 in the same area

[user13]

Its interesting someone shorted very heavily into the close yesterday

[Al_Dente]

Slight positive divergence on stochastics (top panel)
We are starting to fill the grey gap (price panel)
Volume patterns in the recent past show a little bounce following such a large red volume bar (bottom panel)
We do not have to replicate past patterns …. this time could be different...

[fehro]

SPX 15m, 60m.... may find support near here.. SPX 15m.. says a little lower.. SPX 60m.. need to see how this candle closes...

[gappy]

Selling at/near open was the only real trade and I wasn't ready.
Now it is below my breakdown level, so the only trade is short but given the depth of the o/n fall it is hard to see how much further it will go - perhaps not much. So no reason to rise and has fallen enough for one day...
Could be a narrow along the bottom day.
I do have a formula for big gap days which gives 72 to 60.5 =11.50
We have 69.25 to 56.50 so 12.75 already..

edit :
minus 2.75 to make 72 = 69.25,
60.5=> 57.75 -- so 56.50 in the same area

Another 11.50 down manana would meet Uempel's 55 ma lost and start the monthly cycle stampede. But the banksters will have none of that nonsense.

[fehro]

Its interesting someone shorted very heavily into the close yesterday

that was me

[user13]

Its interesting someone shorted very heavily into the close yesterday

that was me

The forums lunch is on you I guess then lol

[Heck]

BTFD
There was no volume on this selloff, just weak longs stopped out
TNX up to new highs (2.804%) and USD down very bullish for equities
IT SPX target still 1970

[user13]

$ just lost all of its gains from the employment data, which has helped put int he floor for now

[fehro]

SPX 50d SMA .. very close 1656.76

[Al_Dente]

Internals 5min
Down-to-up volume ratio open this morning at about 13 to 1
That is too extreme…. never sustainable…
It has pulled back to a more reasonable 7 to 1

[Mr. BachNut]

Looking like a trend day. No knife catching for me.

[TraderGirl]

UCO...usually gap fills as indicated here: viewtopic.php?f=2&t=1020&start=60#p138705

Now upside gaps filled...good to take some profits although potential to see higher high....

[Cobra]

OK, here comes the 2nd test of the low, so if you still believe BTFD then you'd see if you have chances here.

[TraderGirl]

BTFD
There was no volume on this selloff, just weak longs stopped out
TNX up to new highs (2.804%) and USD down very bullish for equities
IT SPX target still 1970

I believe we get another leg after this...wave 4 then down to 5....