02/11/2016 Live Update

[Trades with cats]

Oil bottom this morning blamed on more reports that Saudi Arabia ready to start war with Russia for Aleppo. Unleash the Algos! This is why I took a pledge to not trade Oil.

[fehro]

SPX 1812.29 Jan lows.. undercut? blow out stops? seems 1800 better support

[Trades with cats]

What was that?

[brokebybernacke2]

If this ain't a bear trap SPX should go down to SPX 1802ish - low of red channel.

SPX.png

like that target at least, recall friday before Presidents day one of worst trading days historically, holiday weekend, clean house, maybe we close near or break for a good trap before a bounce next week.....not getting any good buy signals yet....

[jademann]

Still no buy signal. support between 1800 and 1810 maybe.
http://stockcharts.com/h-sc/ui?s=SPY&p= ... 2456811400

[BullBear52x]

all my time frames are aligned on the sell side, any rip will be sold in any time frames from here.

[BullBear52x]

A reminder of a fearful market.

[fehro]

DXY new LOD, nears support - US Dollar

[Al_Dente]

Can we call that the second-push down on the 5min?
Can we expect a third-push down after a bounce?

[brokebybernacke2]

Can we call that the second-push down on the 5min?
Can we expect a third-push down after a bounce?

yes

[fehro]

SPX 1812.29 Jan lows.. today's LOD 1812.82 0.53 cents short.. I'd like to see an undercut, blow out stops.. but possible double bottom

[Trades with cats]

Can we call that the second-push down on the 5min?
Can we expect a third-push down after a bounce?

yes

My fast system agrees on the ES , but it never holds an opinion for long

[Trades with cats]

Anybody want to research potential US energy shorts hear is a list of cash flow negative with debt http://www.zerohedge.com/sites/default/ ... panies.jpg

[Al_Dente]

Can we call that the second-push down on the 5min?
Can we expect a third-push down after a bounce?

yes

Next support is low of 20 jan $181.02
Today’s low so far is $181.39

Oversold.
Problem with a dead cat bounce is this:
Record high SPX short interest (posted earlier), and with shorts now a crowded trade, contrarians will be salivating to pounce on any dead cat that smells of a trend changer….
…….

[merryme]

Noticed Tom Bulkowski's Inverted GAP2H pattern on NYA on 2/8-2/9.

http://www.thepatternsite.com/Gap2Hi.html

Using this pattern and deciding on when to enter, yesterday it failed.

If we get the close below 9109.05, then using his 7% move estimate, then we land approx at 8690.50 or a 2011 high...it's hard to believe.

SPY bar 180.50 seems viable.

[fehro]

SPX hourly trying to hammer.. VIX curious spike down intra day 1m.. SPX seems better support a tad lower.. but dabble a small long here.. probably a tad early

[daytradingES]

Oil, news last night was that Phillips 66 had dumped a large amount of inventory at Cushing for discounts of 2.25 to 2.50, and at least one other refiner was doing the same. They said Valero was cutting production at Memphis by 25% and that the crack spread in the upper midwest was going negative. So this is the scenario Goldman laid out where storage fills and prices are slashed because they can't just shut all this stuff down. The next phase will be widening defaults on junk bonds, and by the way the banks are behind the curve on loss reserves for this sector.

Thanks TwC
Good post
&
Good stuff to know

[josephli]

would any one post a intraday nymo? thanks.

[Cobra]

members only update at 12:07 pm
http://www.cobrasmarketview.com/2016/02 ... ay-update/

[Cobra]

1st test of ema20 in 2 hours, should be some sellers here.