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2 legged pullback already, not much damage done, so the chart pattern still favors bulls a little bit, bears really need work harder.

members only update starts here: http://www.cobrasmarketview.com/2013/12 ... ay-update/

Expecting an early rebound attempt then...? There are some positive signs ,but too early to say the decline is over... seasonals remain weak

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The signal is there, but the traders are not moving the market -so far

Well ,so much for the early rebound , and they knifed right thru the 261.8 line giving the 4.236 (1788 or lower!) a decent chance. market one , Koolio zero.

Ok, I found something on the 60min, suggests a new move at 1:00 p.m. Because it's on the 60min this means that the window is 1:00 p.m to 1:59 p.m.

this pullback might have small legs.

SPY chart update : close to support, lets see what happens there (neckline backtest?)


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MARKET SNAPSHOT: Stocks Under Pressure As Street Assesses Budget Deal[attachment=0]a.PNG[/attachment]

I'm trying to learn ...and the board is kind of quiet...so I was wondering....

Does it make sense that if SPY starts to go down in the next couple weeks...then a bunch of institutions that have made lots of money this year would sell to protect their performance into year end....and that would push market lower than it would 'normally' pull back to.

If that observation has some merit, could that overshot area be 1750ish?

Thanks...love to read ALL your posts...have learned lot....but have a LONG way to go

SPX 1790ish is crucial

KeiZai wrote:SPY chart update : close to support, lets see what happens there (neckline backtest?)


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SPY-uuu.png

So you've got the same support as I do

It will be ALL ABOUT the FED.....

It will not be an overshoot if the Fed does something surprising next week..... 1750 is entirely possible if there is a surprise..... just look at last December.....

The key is still next Tuesday through Thursday.... this week is all about the normal post employment pullback .... positioning for the Fed starts Thursday / Friday.....

Today's move is completely in line with the normal post December employment pattern.

-D

zudec wrote:I'm trying to learn ...and the board is kind of quiet...so I was wondering....

Does it make sense that if SPY starts to go down in the next couple weeks...then a bunch of institutions that have made lots of money this year would sell to protect their performance into year end....and that would push market lower than it would 'normally' pull back to.

If that observation has some merit, could that overshot area be 1750ish?

Thanks...love to read ALL your posts...have learned lot....but have a LONG way to go

Partial short.

My summation signal is down.
My composite trend signal is up with whipsawing critical indicators, which is cautionary.

The bulls have been treading water, perhaps trying to dog paddle into the holiday season.
It seems bears have finally noticed and are dunking them this morning.
Its too bad I had a stop picked off the other day reducing my exposure (life in the jungle).

Not sure, but a bad day could turn my trend signal neutral. A lot of indicators are proximal to thresholds.
At the same time, as the trend signal turned up the other day, I have some long setups that have been waiting for a pullback.
So, I could be a dancing fool depending on how things develop.

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KeiZai wrote:SPY chart update : close to support, lets see what happens there (neckline backtest?)


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SPY-uuu.png

...I agree KeiZai

Paging Miyagi:

Do you have an open PBar SPY 178.99 ??

uempel wrote:

KeiZai wrote:SPY chart update : close to support, lets see what happens there (neckline backtest?)


O: viewtopic.php?f=2&t=1144&p=149602#p149602


download/file.php?id=56041&mode=view

SPY-uuu.png

So you've got the same support as I do

Yep Not sure if is going to hold but I want to take some profit there/here