09/17/2014 Live Update

[Out of Bounds]

Done for the day. Thanks, Cobra!

See y'all tomorrow.

[fehro]

Bingo! SPX 5m gap filled

[Cobra]

pullback too sharp, so still no direction.

[Mr. BachNut]

No position.

My summation signal is down.
My composite trend signal is neutral.

Yesterday's action did little to affect my signals. Price was strong yesterday, but not much else. Price rules though.
We'll see what today brings.

I still have an open to sell based on my summation model (been waiting for a bounce to trade).
I have been at meetings all day and just returned to find post FOMC price approaching where such a trade would have its stop.
So, I may play a bit up here if intra-day action suggests as the tight stop would have me risking very little.
If the stop level gets reached first, I'll just cancel the setup. We'll see.
The action is bullish; the market may have turned on my signal (it is a lagging indicator) and there is more event flow ahead. So, no conviction about odds or outcome.

[MrMiyagi]

vix

3646.png (15.33 KiB) Viewed 7080 times

[cletus]

Took profits on swing longs. Take a look at this TRIN reading. Beware bulls.

[ALdaytrade]

Up for 5th wave now?

Do you think that S&P 500 futures will stall at 2000?

[MrMiyagi]

spyX

[Junior Buffett]

This market abused me to become a all time BULL! NO SHORTS ANYMORE!!!!!!!!..LOL

[Royal Flush]

3647.png

Excellent Mr.Miyagi, thanks so much for all your posts

[ALdaytrade]

This market abused me to become a all time BULL! NO SHORTS ANYMORE!!!!!!!!..LOL

Yikes, Junior do you realize that this might be the turning point then, within a few days???

[MrMiyagi]

!!! POWER HOUR !!!

[fehro]

SPX 60m

[q2model]

pullback too sharp, so still no direction.

Cobra:

Do you have stats on performance the day after FOMC? I have an impression it is down.

Thanks,

[Cobra]

fib 61.8% mm is possible (too late when I completed my drawing).

[Cobra]

pullback too sharp, so still no direction.

Cobra:

Do you have stats on performance the day after FOMC? I have an impression it is down.

Thanks,

no, sorry. Usually when hit new 52-week high on FOMC, all gains will be erased in the following weeks, I remember seeing some statistics about this.

[Xian]

Know you're not talking to me, but just read a stat from one of Cobra's members on twitter, @ukarlewitz, that FOMC gains usually dissipate within 5 days.

Search his posts, you'll find the chart.

pullback too sharp, so still no direction.

Cobra:

Do you have stats on performance the day after FOMC? I have an impression it is down.

Thanks,

[Junior Buffett]

Know you're not talking to me, but just read a stat from one of Cobra's members on twitter, @ukarlewitz, that FOMC gains usually dissipate within 5 days.

Search his posts, you'll find the chart.

pullback too sharp, so still no direction.

Cobra:

Do you have stats on performance the day after FOMC? I have an impression it is down.

Thanks,

will you count gain from yesterday also as FOMC gain?

[Xian]

Know you're not talking to me, but just read a stat from one of Cobra's members on twitter, @ukarlewitz, that FOMC gains usually dissipate within 5 days.

Search his posts, you'll find the chart.

pullback too sharp, so still no direction.

Cobra:

Do you have stats on performance the day after FOMC? I have an impression it is down.

Thanks,

Here it is. Again, from @ukarlewitz full credit.

[uempel]

Resistance and a Fib time signal tomorrow.