08/21/2013 Live Update

[Al_Dente]

lower lows on INVERTED volatility (white)

[Cobra]

symmetrical triangle breakdown?

[Cobra]

symmetrical triangle text book target.

[MrMiyagi]

[Daniel-David]

Interesting new LOD, in JNK. As different sectors position themselves for the FOMC minutes release, it indicates how traders in those sectors are "handicapping" their view of Fed policy going fwd. The high yield debt market is always sensitive to such influence.

[fehro]

SPX 60m about to enter the gap below, SPX 5m

[Daniel-David]

IWM again back down to the 50day MA.

[Out of Bounds]

UGH! Never bet against Cobra. Still long - waiting. My whole scenario fell apart.

[gappy]

Last time the market loss the 100 SMA without the QE scam though.

spy.png

[user13]

That last bull reversal bar made me close my short

[fehro]

IWM again back down to the 50day MA.

sitting on/or riding up under support/resistance.

[Cobra]

members only update at 11:58 am
http://www.cobrasmarketview.com/2013/08 ... ay-update/

[MrMiyagi]

No new pBars on QQQ, DIA or IWM. Still open from 5 days ago on the up side.

[TWT]

$SPX: The EWP off the August 5 high has most likely morphed into an impulsive decline

[Mr. BachNut]

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

Position.

I outsmarted myself last week when I covered 1/2 of the trade on the initial dip. I was looking to reload at a better price (retest of high) which never came.
I strayed from my setup.
So, I am riding what's left. Hence, the term partial.
I would have added to a full position on the downside breakout but the set up is pretty restrictive when oversold stats are emerging.
Now what happens depends on what happens.

[uempel]

No new pBars on QQQ, DIA or IWM. Still open from 5 days ago on the up side.

Miyagi, let's not forget the bearish pBar. Or have you deleted it

[uempel]

I'm not sure about this system, just watching it

(please disregard the blue Zigzag - that was yesterday's idea which didn't work out )

[Mr. BachNut]

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

Position.

I outsmarted myself last week when I covered 1/2 of the trade on the initial dip. I was looking to reload at a better price (retest of high) which never came.
I strayed from my setup.
So, I am riding what's left. Hence, the term partial.
I would have added to a full position on the downside breakout but the set up is pretty restrictive when oversold stats are emerging.
Now what happens depends on what happens.

P.S. I did have a collection of individual stocks in my trading account, which I would hedge with short index trades, earlier in the year.
I let go of them in the June swoon, which was probably a bad idea as we are still in a bull market.
I would like to see the indexes go do a nice test of the 200 day moving average though before re-assembling.

[MrMiyagi]

Miyagi, let's not forget the bearish pBar. Or have you deleted it

After 10 days, it drops out of my thoughts and charts .

[gappy]

Don't have a dog in this week's fight, but would bet that no firm taper down news from FOMC today will push SPY back up into the Keltner Band where it will narrow again until all the overseas h@s charts lose their neckline. Put/call ratio's confirm. http://trader-moe.com