12/10/2013 Live Update

[koolblue]

STILL ANYBODYS BALL GAME FOR NOW, BUT LEANING TO THE BEARS.

[Cobra]

double top target.

[joegamma]

STILL ANYBODYS BALL GAME FOR NOW, BUT LEANING TO THE BEARS.

tHANKS kOOL!

kinda disappointing that iwm squeeze could net get above 11250ish hi volume levels, looking for a point lower, support 11150ish, wonder if this OR breakdown should be sold into weakness....THANKS KINGSNAKE AND ALL BOARDIES!

[fehro]

SPX 15m.. stopped at the pink channel previous trading range...

[Cobra]

target met. it's the 2nd test of day low so key time. 50% chances of reversal.

[fehro]

RUT 60m... reversing at top trendline....

[flumanchu]

It looks like they exhausted yesterday's POMO with the up day yesterday. Today is a light day - $1.5 billion. It takes between 1.5 - 2.0 to keep the market even (if they haven't saved it up from prior days, or save it for another day).

There's appr. $25 billion left thru the end of the Dec with appr 15 days left. Most of it is between now and the Fed Meeting / OPEX, so they may try to hold the market up thru that timeframe even if there's Taper news. However, if they do Taper, there's not much POMO XMAS week, so, market could begin to go down quite quickly from that point on thru next year. The Fed probably wants to evaluate how the market takes the Taper news without much POMO, and can adjust Jan's schedule accordingly (maybe front load the POMO at the beginning of Jan to settle the market down).

[fehro]

SPX 5m... interday gap filled.... on ascending triangle support.. or possible H&S neckline messy pattern.. but if it breaks could see a sharp down move...

[Cobra]

members only update at 11:23 am
http://www.cobrasmarketview.com/2013/12 ... ay-update/

[fehro]

AAPL 60m triangle.. H&S didn't trigger...

[BullBear52x]

sell on all time frames now

[fehro]

SPX 15m.. channel support or neckline H&S ..

[Cobra]

volume surge, previous low, so hopefully a rebound here first then we'll see. again 50% chances of reversal.

[fehro]

VIX 15m.. looks a tad more bearish... than bullish... patterns bearish.. indicators bullish

[Mr. BachNut]

Still short gold here. painful day but i dont have anything to get me out of my position. so, i must continue to think there is some final capitulation bottom out there to wait for.

I am not sure what your time horizon is... but this is what I am working.

Long term trend is down. Intermediate down trend from the late October high is being liquidated now (i.e. shorts getting closed). After that process is done/settles/consolidates for a few days, I'll be looking for a directional signal for another intermediate scale trend either up (to 1370 +/- 20 ? which would still be inside long downtrend) or down to break the June low.

There was a wicked good capitulation in June, and if you look at weekly RSI, it has been toning up (positive divergence). So, while there may be a final flush, it is worth watching for other more moderate bottoming chart patterns. Just a thought. I don't know what will happen.

[BullBear52x]

VIX 15m.. looks a tad more bearish... than bullish... patterns bearish.. indicators bullish

Bears would hope for the Volcker rule to pass to juice up the fear of losing free money.

[fehro]

SPX 60m

[Cobra]

not decisive new low so still 50% chances of reversal. bears need work harder.

[joegamma]

late friday evening saw 500k shares iwm trade here at 11152, fwiw...
out some R2K shorts and wondering if 10yrs are trying to price in a Severe tapertantrum.

[joegamma]

supports here in smalls: iwm midpoint daily keltner 20, 2,

and (modification from Uempel) 11132 is bottom of bb13, 1.25 and it has contracted quiet a bit....oops down we go, maybe 11130 pause?