01/24/2014 Live Update

[Cobra]

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Testing the previous low, let's see if bears can make a decisive new low. The current new low is not enough to justify a real range breakdown, so officially we're still in range therefore direction isn't clear.

[DellGriffith]

Likewise no decisive new high in gold.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2014/01 ... -update-2/

[koolblue]

just a quick look at the daily picture....bands are fairly flat again but i think lower prices coming next week if not later today...

[Out of Bounds]

Topics to study this morning.
China
Argentina
Emerging markets
Australia's currency
Spain
Gold
...and more that I am sure I missed. None of it is good for equities.

[gappy]

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Vote Cobra. glta

[Out of Bounds]

WOW!

Dow Jones Transportation Averag (^DJT) -DJI
7,343.24 Down 226.65(2.99%) 9:50AM EST

[Cobra]

members only update at 9:53 am
http://www.cobrasmarketview.com/2014/01 ... -update-2/

[Claire]

Cobra - do you consider this a decisive break less than 181.74? thanks

[L_T]

WOW!

Dow Jones Transportation Averag (^DJT) -DJI
7,343.24 Down 226.65(2.99%) 9:50AM EST

Rail being beaten up this morning. Check out this gem.

[gappy]

WOW!

Dow Jones Transportation Averag (^DJT) -DJI
7,343.24 Down 226.65(2.99%) 9:50AM EST

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[L_T]

A/D obviously bearish at these levels.

[Cobra]

members only update at 10:07 am
http://www.cobrasmarketview.com/2014/01 ... -update-2/

[Mr. BachNut]

Neutral. Holding longs and shorts.

My summation signal is neutral. The soonest it could turn down is early next week.
My composite trend signal is up. Unless there is a strong close, this should turn neutral or even down today.

I stopped out of some long yesterday down a few peanuts to get neutral. Remaining long is somewhat in the red but revisiting the heart of the chop zone would clear that.
How the campaign works out depends on upcoming moves. I am glad I kept my exposure light.

It sure looks like my signals will be turning. I am inclined to be a seller of rips rather than a buyer of dips, but let's see how things go.
Dow has busted 50 day MA. SPX testing it now. A pinocchio is ok, but the bulls need to close above it.

[DellGriffith]

Spy is trading below its lower bb. question to research for later: how often do large (1% or more) drops occur on the daily when spy is already below its lower bb vs inside the bands vs above its upper bb?

[gappy]

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[fehro]

SPX 60m... mind the minor gap 1810ish.. green channel, dark blue steep channel

[Cobra]

volume surge, might see rebound here, so possible double bottom.

[KENA]

Still holding swing longs and shorts..Added WUBA long early this morn..Has had a great pull back to its 50 day. Sooo lets see.

[fehro]

SPX daily.. at the 50d SMA 1812.99