12/17/2015 Live Update

[uempel]

Monthly chart is a great tool for day trading Monthly MA 9 at 2051. Bulls don't like SPX below that level, especially not end of the month. But apparently they are defending SPX 2051 on December 17th too ...

[Al_Dente]

Note: little balls/little red circles
Compare to big balls/big red circles
Just sayin’
Somebody needs bigger balls

TOMORROW IS SPY EX-DIVIDEND DATE
That always screws with traders heads
Use SSO until Cobra says it’s OK to go back to SPY, adjusted

[Cobra]

touch the line then breakdown is more likely as triple bottom is rare.

[Unique]

Monthly chart is a great tool for day trading Monthly MA 9 at 2051. Bulls don't like SPX below that level, especially not end of the month. But apparently they are defending SPX 2051 on December 17th too ...

The attachment MA9.png is no longer available

Yup and ES monthly 20EMA worked very well on Monday with the sticksave

[uempel]

Hmmm, perhaps that was not such a good idea. Monthly charts might not be useful as a day trading tool - SPX now at 2048.50 ...

Monthly chart is a great tool for day trading Monthly MA 9 at 2051. Bulls don't like SPX below that level, especially not end of the month. But apparently they are defending SPX 2051 on December 17th too ...

MA9.png

[josephli]

well, if bull want a santa rally, then it should hold around LOD.

No, must hold ES 2021 and tomorrow is monthly Opex. Only early next week matters for Santa Rally setup

The reason i am saying this is 55-EMA (I use 55 instead of 50) is around the LOD. once that is broken then bull picture is in danger.

1217.png

The bigger picture looks like a giant bull flag as well

http://aapltechnicals.blogspot.ca/2015/ ... le_16.html
See here

Agree, technically both way possible. I think it will try to test the top channel line first. that is my preferred santa rally scenario. but again, will have to see what opex will be doing. another possibility for bull set up is an extreme OS for higher low. that could happen tomorrow.

[nikman]

Uempel, thanks for this chart. Just framing my opinion on this chart and the channel that SPX fell out of and further made a lower low earlier this week compared to last week, makes me think that Santa rally might not happen (or might just be a weak bounce) this year.

Monthly chart is a great tool for day trading Monthly MA 9 at 2051. Bulls don't like SPX below that level, especially not end of the month. But apparently they are defending SPX 2051 on December 17th too ...

MA9.png

Sent from my SM-G920T using Tapatalk

[fehro]

TRANSports very weak .. outside reversal on the daily

[josephli]

Your picture already looks like an H&S top. Bears are ready to pounce all over it.

well, if bull want a santa rally, then it should hold around LOD.

No, must hold ES 2021 and tomorrow is monthly Opex. Only early next week matters for Santa Rally setup

The reason i am saying this is 55-EMA (I use 55 instead of 50) is around the LOD. once that is broken then bull picture is in danger.

1217.png

Sent from my SM-G920T using Tapatalk

look at my comment again, i think we are talking about same thing.

[Cobra]

100% mm? bears apparently don't want to hold overnight so are covering.

[uempel]

nikman, but if SPX goes higher and ends December and 2015 above 2080 - SPX is back in the channel.

Note, this is not my scenario but It's a high possibility scenario. Bulls only have to push SPX two percent higher in the next few trading day ....

Uempel, thanks for this chart. Just framing my opinion on this chart and the channel that SPX fell out of and further made a lower low earlier this week compared to last week, makes me think that Santa rally might not happen (or might just be a weak bounce) this year.

Monthly chart is a great tool for day trading Monthly MA 9 at 2051. Bulls don't like SPX below that level, especially not end of the month. But apparently they are defending SPX 2051 on December 17th too ...

MA9.png

Sent from my SM-G920T using Tapatalk

[Out of Bounds]

Closed longs - small gain. Bulls never got their groove on today

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2015/12 ... ay-update/

[Cobra]

well, guess that's it for today. Friday tomorrow has been generally bull friendly. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

[brokebybernacke2]

ugly close, below every major MA, tomorrow will be interesting...

[Cobra]

3rd touch, so here comes the breakdown, too bad, only 5 min to close, I don't trade it.

[Trades with cats]

Is this a trap for tomorrow?

[brokebybernacke2]

Is this a trap for tomorrow?

believe yesterday was the trap, and a good one...will see...

[josephli]

ugly close, below every major MA, tomorrow will be interesting...

yep tomorrow will be interesting. (almost) outside reversal for the bear.

[MrMiyagi]

Ouch at the close there, lower than yesterday's low and hitting $205.03 pBar.