08/21/2013 Live Update

[dowtrader]

YM in a bigger picture

[FlowerGirl]

When pBAR down to 162.10 appeared several days ago. it didn't make much sense. But now it does. The purple trend line joins the lows since Nov 12, and is currently within the reach of this pBARs target. Algoes love trend lines. One can imagine a rebound from here but if this trend line is broken than watch out below. They tend to be flexible around the trend line touch points; willing to go either way.

[gappy]

IWM; C&H setup, with $102.25 being the neckline?

Too much "v" Rocket?

cup.PNG

[rocket]

IWM; C&H setup, with $102.25 being the neckline?

Too much "v" Rocket?

cup.PNG

Yes, Gappy, fits more the description for a "V-Cup".

[L_T]

Al are we about 70/30 decliners to advancers?

5 min internals
nydec > 2000 bear
decliners-to-advancers ratio 2.68 to 1

821five.png

Great thanks. Seems a range day so far (as of this minute).

[fehro]

SPX 5m

[gappy]

IWM; C&H setup, with $102.25 being the neckline?

Too much "v" Rocket?

cup.PNG

Yes, Gappy, fits more the description for a "V-Cup".

Last time...I drinkd one...http://www.youtube.com/watch?v=fOPVmvqi7JY

[Out of Bounds]

XOM---interesting if only because of the stat that 20 of the last 21 daily bars have been red:

Not that I would trade on that, it is a bit incredible isn't it? Thanks for that tidbit.
Unfortunately though, the more I think about it, the more I believe I may just make some sort of crazy trade. You have warped my mind.

[gappy]

hightower21st.PNG

[Daniel-David]

SPY has been hovering around its VWAP (volume-weighted avg price) all morning. Hard to envision a catalyst to move it far off that commonly watched average zone until the big ‘event risk’ of this afternoon-- perhaps aggressive range plays will work out until then, fading anything extreme...

Also, VIX, RVX, VXN readings may not be normal today--since price and ‘fear gauge’ readings have both been going up since the lower open, it’s possible that protective option positions are being opened by institutions ALONG with long positions, as a hedge.

[L_T]

XOM---interesting if only because of the stat that 20 of the last 21 daily bars have been red:

Not that I would trade on that, it is a bit incredible isn't it? Thanks for that tidbit.
Unfortunately though, the more I think about it, the more I believe I may just make some sort of crazy trade. You have warped my mind.

CVX chart looks similar. However if you look at COP who split off their refining bits into PSX a while back their chart is much better. Not sure if it's because of the refining of XOM and CVX or something more specific to each. Anyway XOM doesn't have a history of staying beat down forever which is also why I thought it was interesting.

[Out of Bounds]

Long 165.15

[Daniel-David]

Of some concern to intraday bulls is the XBD, the Broker Dealer Index, which is probing a new LOD. If there is any premature leak of big news, those guys get it first.

[uempel]

BachNut, partial short as position or partial short as hedge? - just out of curiosity

Partial short. No change.
Stop came close but did not hit yesterday.
Tightened a little little bit more today.

My summation index signal is down.
My composite trend indicator signal is down.

Yesterday cleared the acute NYMO oversold condition but left a ways to go to get back to what might be considered neutral territory.
It would seem unusual to me if the downtrend just proceeded onward after such a brief pause. Market can do what it wants though.
Perhaps we'll see a move up after FOMC minutes or perhaps a more solid low will get set from which the oversold condition can get worked off.

[uempel]

Of some concern to intraday bulls is the XBD, the Broker Dealer Index, which is probing a new LOD. If there is any premature leak of big news, those guys get it first.

Lord of Destruction or Low of the day

[Out of Bounds]

Long 165.15

Added to long at 165.04 - I was too earlly

[Al_Dente]

Bill Luby on “mean” pullbacks
Table is from the 15th
http://vixandmore.blogspot.com/2013/08/ ... nd+More%29

[Daniel-David]

..Speaking of the "Lords of Destruction", part of the XBD weakness could be the Goldman Sachs trading error fiasco, which was on the morning news. So it might not be an "early news leak" alert, as could normally be the case.

[L_T]

Bill Luby on “mean” pullbacks
Table is from the 15th
http://vixandmore.blogspot.com/2013/08/ ... nd+More%29

Nice link. I liked this:

"Finally, while I have not included any VIX data in this table, I find it interesting that the VIX has yet to rise above 15 during this pullback. In every other instance cited in the table, the VIX managed to climb above 18 at least once."

[Al_Dente]

%B (50) up, and fibbonacci fan down
the grey gaps are support and resistance