08/22/2013 Live Update

[TraderGirl]

VIX at support...a break below and we head higher...if it holds support possibly a pullback, but tomorrow's aspects are bullish....

[1der]

Do or die time for possible triangulation. about 5 min chart for this volume level (Tried different background color for those who do not like black, but will need to change to many other colors to contrast. )

[Cobra]

100% mm target.

[fehro]

http://www.aaii.com/sentimentsurvey/sent_results

quite the increase in bearish sentiment.. contrarian indicator?

[Cobra]

volume surge, doji, so might see pullback here first which likely would be bought later.

[1der]

Okay, no triangle. Looking for ES 1656/57 now. Adapt

[TraderGirl]

SPX... There is some resistance at the 50ma

That's the thick red line..

[KENA]

Until our P Bar boss logs in we had a P Bar dn to 164.56 at 10:30,,Lets see

[joegamma]

SPX... There is some resistance at the 50ma

That's the thick red line..

Thanks for sharing your view that Thursday should see a low, I was feeling like a poor arab being long wenesday afternoon, but stuck with my indications that breadth and internals pointed higher, THXABUNCH!

[jademann]

Agree with TG. VIX is strong support here so that determines direction. I am not sure about TGs tomorrow call. TG what is it based on? TIA

Another chartist I follow has called for 1670 before a 10% correction.

[TraderGirl]

SPX... There is some resistance at the 50ma

That's the thick red line..

Thanks for sharing your view that Thursday should see a low, I was feeling like a poor arab being long wenesday afternoon, but stuck with my indications that breadth and internals pointed higher, THXABUNCH!

Well, we actually saw the low on Weds... Intraday charts say up, then down..don't know if we get a pullback by the end of the day or not??

[joegamma]

Paging Tgirl and EWT: ANY wave traders see this as 3 wave bounce within bigger 5 wave down...
if 5=3 then R2K has 4+ point below recent lows, heading toward 9650 ish levels...
At what price above would the 3 wave bounce be invalid?

[TraderGirl]

Agree with TG. VIX is strong support here so that determines direction. I am not sure about TGs tomorrow call. TG what is it based on? TIA

Another chartist I follow has called for 1670 before a 10% correction.

The moon enters Aries and there is a Moon Venus aspect..

[joegamma]

SPX... There is some resistance at the 50ma

That's the thick red line..

Thanks for sharing your view that Thursday should see a low, I was feeling like a poor arab being long wenesday afternoon, but stuck with my indications that breadth and internals pointed higher, THXABUNCH!

Well, we actually saw the low on Weds... Intraday charts say up, then down..don't know if we get a pullback by the end of the day or not??

It was thuirsday am after wed midnight somewhere in the world SO, you were right

[Out of Bounds]

long 165.74

[TraderGirl]

Agree with TG. VIX is strong support here so that determines direction. I am not sure about TGs tomorrow call. TG what is it based on? TIA

Another chartist I follow has called for 1670 before a 10% correction.

The moon enters Aries and there is a Moon Venus aspect..

But there are a lot of bearish aspects right now...so bounces could be short lived...and/or weak...so I would say, don't expect to test the highs...who is the chartist you are talking about?

[TraderGirl]

SPX... There is some resistance at the 50ma

That's the thick red line..

Thanks for sharing your view that Thursday should see a low, I was feeling like a poor arab being long wenesday afternoon, but stuck with my indications that breadth and internals pointed higher, THXABUNCH!

Well, we actually saw the low on Weds... Intraday charts say up, then down..don't know if we get a pullback by the end of the day or not??

It was thuirsday am after wed midnight somewhere in the world SO, you were right

thanks joe...

[fehro]

SPX 5m

[TraderGirl]

Paging Tgirl and EWT: ANY wave traders see this as 3 wave bounce within bigger 5 wave down...
if 5=3 then R2K has 4+ point below recent lows, heading toward 9650 ish levels...
At what price above would the 3 wave bounce be invalid?

If it overlaps the bottom of wave 1 it is definitely invalidated...

[Mr. BachNut]

This is a little off topic and self-involved (sorry ), but I want to get this off my chest (been bothering me for some reason).

Reasons why Mr. B reports his position each morning on Cobra's Market View:

1) He works alone and has no boss or partner looking over his shoulder. The stress of having to publicly admit to losing trades is a tool that helps him to be more diligent and disciplined.
2) An opinion is not a position. When he expresses a market view, you can see if his money is where is mouth is.
3) A signal is not necessarily a setup. The two signals he comments on are not the sole criteria for trades (they also conflict at times). So, the money lets you know when the signal has actually been put to work.
4) Because he can. He is not a day trader and flipping back and forth all the time. So, he doesn't have to spend a lot of time updating.
5) Entertainment and sharing the journey. Perhaps seeing what that BachNut is up to over the course of the market's thrills and spills provides some viewing pleasure.

I trust everyone is doing their own due diligence for their trading and not taking anything I say or do as advice.
Thank you Cobra for providing this great forum.