01/07/2016 Live Update

[Cobra]

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The rebound should be sold, but bears should be careful be as it could be the last leg down so the sold might not make new low.

[fehro]

SPX fills 1950-53 gap, seems support near 1933-1940 - better at 1900

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2016/01 ... ay-update/

[fehro]

SPX / SPY D top left fwiw.

[josephli]

three push down in short term. today will be the fourth. good chance there will be a dead cat in the afternoon/tomorrow. preliminary target spy 200 (!)

[Unique]

ES: All immediate targets fulfilled 1960 1950 1937.5, accleration phase doing well. No major support until 1900-1892 if 1931.5 doesn't hold.

[daytradingES]

8:25am

[daytradingES]

7:40 AM 1/7/2016
Thursday 07-Jan-16

ETH
1,991.00
1,931.00
-60.00

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Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled 7 percent .CSI300 in less than half an hour.

For the second time this week, China suspended trading in its stocks, whose losses since a turbulent start to the year have topped 10 percent. Oil prices have plunged 12 percent since Tuesday - the worst three-day run in a year.

Brent crude skidded over 5 percent on Thursday alone to an almost-12-year-low LCOc1, with worries over weaker demand from China adding to a persistent price drag caused by a huge oversupply and near-record output levels.

Wall Street was expected to open more than 2 percent lower ESc11YMc1, following European stock markets deep into the red. The pan-European FTSEurofirst 300 index .FTEU3 and the euro zone's blue-chip Euro STOXX index .STOXX50E both tumbled over 3 percent.

Even before U.S. shares began trading, MCSI's 46-country All World index .WORLD fell 1 percent to hit a three-month low, the sixth straight day of losses.

[uempel]

This is not for traders, it's more for the medium term outlook. But it's good to know:

Coppock is a momentum indicator with a pristine history. As you can see on the long term chart it's very close to a "sell" signal. If Coppock breaks below the 0-line this week or next week we can be fairly sure that the market will head south in the next few months.

More about Coppock over at stockcharts.com/chartschool

[Cobra]

members only update at 9:33 am
http://www.cobrasmarketview.com/2016/01 ... ay-update/

[Cobra]

as usual, let's see if bulls again spend whole day trying to rebound. simply no downtrend day nowadays.

[Al_Dente]

Today we are testing support at the 10/5/15 gap.
Looks dreadful, but putting it in perspective: the ATH spy high was 20 july at $210.82, so today we are now down about 7% from the all time high

[Unique]

Looking to see if 1HR 20EMA region rejects hard here 1958-1962 or else this bounce is going to 1968-1970 at least. Key time here.

[fehro]

SPX fills 1950-53 gap, seems support near 1933-1940 - better at 1900

hmm gap does not fill! .. yet..

[uempel]

Update on this SPX chart - blue arrows show support levels:

[josephli]

Today we are testing support at the 10/5/15 gap.
Looks dreadful, but putting it in perspective: the ATH spy high was 20 july at $210.82, so today we are now down about 7% from the all time high

wasn't all time high back in May?

[daisy88]

Looking to see if 1HR 20EMA region rejects hard here 1958-1962 or else this bounce is going to 1968-1970 at least. Key time here.

Seems like we have big resistance at 1960. Lets see whether it can break it
\

[Cobra]

morning hourly hollow red again.

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2016/01 ... ay-update/

[Cobra]

this last bull bar could be an exhaustion bar so should be a pullback here first then we'll see.