04/16/2013 Live Update

[Out of Bounds]

I'm sitting still - no trade yet. I just don't see anything compelling yet.

[TumblingDice]

Just added some qqq puts this morning at the open.

USDJPY retraced 50% from its recent drop. I will cover shorts if it goes through the 61% retracement. Wouldn't be surprised by a range day today for this pair and hence the market as well, since it is has been a major driver of market action recently. This week will determine whether the huge shooting star candle from last week is confirmed, hence any movement into last week's range is bullish.

[fehro]

my neckline was off yesterday... anyhow.. some trend lines SPX 15m

[Out of Bounds]

short 156.13

[BullBear52x]

Here is simple set up on /ES hourly, max pain for the bears is mid BB

[KeiZai]

possible HnS on 1m with 2xtop as well +- 5 handles but I guess everyone see it

[flrtrader]

back into the channel SPX 60m

Hi Fehro,

I am new member here and trying hard to understand codes you guys talk with!

when you say back in 60m channel, are you expecting that S & P will hit top of the channel? is there any time frame to hit this target?

Thank you

Butting in but I beleive he means its back inside its channel see blue line No projection just heads up

[ibopm]

Today seems like it will be a boring day.

[Cobra]

so far looks like a bull flag, so the rebound might not be over yet, wait. overall, still think it's boring day unless bulls can up big.

[TraderGirl]

GS....cycle low??

just a very fast observation...not seeing rsi divergence yet are we?

Sorry, been in and out lately...there was neg d on the hourly...now there is no pos d yet..

I am expecting a low of some kind in the general markets around the end of April...

[Out of Bounds]

short 156.13

cover 156.06 -

whatever.

[fehro]

back into the channel SPX 60m

Hi Fehro,

I am new member here and trying hard to understand codes you guys talk with!

when you say back in 60m channel, are you expecting that S & P will hit top of the channel? is there any time frame to hit this target?

Thank you

Butting in but I beleive he means its back inside its channel see blue line No projection just heads up

I'm not sure... breaking out of the channel is usually not good.. but could of been a head fake. It seems like the orange line is a more of target first, but could go up to 1580 then tag the orange (make a head) that could be read as longer neckline of H&S and the "right shoulder" if it forms ( no new highs ) and stalls over the next 6 weeks. But break up and new highs.. then possible.

I know clear as mud.

[fehro]

messy... but possible SPX 15m

[BullBear52x]

Long term eyes' candy

[Cobra]

members only update at 11:00 am
http://www.cobrasmarketview.com/2013/04 ... ay-update/

[jarbo456]

GS....cycle low??

just a very fast observation...not seeing rsi divergence yet are we?

Sorry, been in and out lately...there was neg d on the hourly...now there is no pos d yet..

I am expecting a low of some kind in the general markets around the end of April...

Gotcha. I like the idea, but would wait for pos d as you look through the previous chart you posted all of the rebounds were projected with some sort of pos d.

In other news, MRK gave me another chance to add to my Jun $48 puts with a touch of the double top neckline from yesterday. I now own 4:1 Jun $48 puts vs Jan. $50 calls. Looking to bring that ratio back down to 1:1 or 2:1 when it reaches the double top target of about $46.28.

I'm bullish biased MRK for the next 8 months, but was expecting this small pullback - it should be an opportunity to add to my long positions using the profits from the puts.

Who suggested the INTC puts yesterday? Moderate bid up today, but I agree with that there's a strong chance for INTC earnings disappointment. With that being said, playing earnings is just about as good as roulette.

[Cobra]

100% MM target if indeed bull flag. I'm not sure about 100% target though.

[flrtrader]

100% MM target if indeed bull flag. I'm not sure about 100% target though.

Dang Master I'm about to show you sum luv Too!!

[TWT]

$SPX: The possible impulsive sequence

[L_T]

short 156.13

cover 156.06 -

whatever.

I think that pretty much sums up the day so far.