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Thanks Spdpro, TVIX on watch
I can't trade options on VIX so TVIX is on watch for me.
VIX option spreads are way out of whack if trying to use any kind of Max Pain reading on them? I see high volume on multiple strikes and none of them seem to line up at any specific number?
TVIX the MACD has crossed positive on it but so far it seems stuck in it's last gap. If you go back to last June/July we are at a similar setup? I think any break above 20 that holds Support might be an indication of a bigger move coming. Just like the movie the gears could change here Fast and Furious?
Good Trading!
Thanks, much appreciated
Thanks, since 2008/2009 no sync
What scares me here is all the comparisons between the Markets here and 2008/2009. If we get back to the sync from those years we could see a significant Market move to the downside?
The delayed Market action here could be similar to late 2007?
Can you Trade the $VIX?
Any Funds that use it?
DZZ $4 for Support
Gold down = USD$ up = Markets down
See if you can do an overlap Gold/$/SPX?
Caution for Repeating Patterns
I am still hesitant Long here and expect a selloff.
We have seen in the past Repeating Trading Patterns from DAX/FTSE that can be Mirrored by the INDU/SPX and today might still be an example of that, so use some Caution on Longs here.
I am not saying Sell the World yet but just make sure you are Safe with your Trades.
Still holding over 1355 for now
The Econ news looks good this AM but it will be interesting to see if the 'Sell at 10:30' raises it's head again today, much as the DAX/FTSE sold off this morning, which would be yet another Bearish sign.
For now a decent test of support but will see how the reaction is to the resistance at 1357/1360.
Still Safest here to lock in profits/set stops on Longs as we both know the downside moves can be quick and sharp.
Good Trading!
It's Badger time! LOL
Will see if the Buyers still give a Sheet once any negative news comes out?
Good Trading!
One bad Apple can spoil the whole bunch?
Man, dating myself with my little sister just Loving that song.
Yes, time to see if the Forks make a turn here.
Market steps still in place, for now
Markets have been liking the stepped support/resistance levels with multiple tests 1337/1340 so any breakdown at 1357.5/1355 would be a sign of a possible rollover imo. Trendline there is definitely something to watch for any breakdown at 1357 changing to resistance. Much as the Indexpulse would watch for a breakdown of the 100SMA back to resistance I would watch your trendline for breakdown to resistance also. Whether the Markets have enough News left in them to stay up here is doubtful to me, jmho. I expected OEX to be down except the last 2 days rallied. I am still looking for a pullback to mid March, we shall see.
Have a Wonderful Wednesday!
Markets Topped, Good News Over
Would make sure and lock in any Long profits here, or at least set some stops, as all the News looks to be Over.
Lately the Markets have been News driven over the Euro crisis and today it looks as though the last of the Good News might be Done.
SPXU target was 10 for support and Markets at Major Resistance INDU 13000 and SP 1370 there is no better time for Profits to be taken.
Any selling and lack of News from here could see an extended pullback.
Just remember to be Safe with your Trades and have a Wonderful Week!
Markets Topped, Good News Over
Would make sure and lock in any Long profits here, or at least set some stops, as all the News looks to be Over.
Lately the Markets have been News driven over the Euro crisis and today it looks as though the last of the Good News might be Done.
SPXU target was 10 for support and Markets at Major Resistance INDU 13000 and SP 1370 there is no better time for Profits to be taken.
Any selling and lack of News from here could see an extended pullback.
Just remember to be Safe with your Trades and have a Wonderful Week!
Morning Steve
Things have been busier this year with Tess.
I am now her 'certified' caregiver and it seems she is becoming more and more needy, so less time to watch the markets.
I see this AM another run of Econ data that 'looks' good but this time not much reaction from the Markets?
I think all the speculation that the numbers are being inflated/adjusted to help with the election might be starting to get some consideration from investors?
To me it seems more a matter of too far too fast and a good pullback to retest some support is needed.
Now once that support is tested it will be a matter of whether or not it will Hold, most likely at least a bounce, and then we see where the Market sentiment is at that time.
Once the buyers step back and take some profits I believe they might come to the realization of 'Why am I buying so High' and start to take even more money out of the Markets.
That could lead to a waterfall effect of selling short term that could eventually be extended much as the buying has been if the News begins to falter again.
1335/1320 would indeed be good targets to continue watching for support or breakdown.
The disconnect seems to be continuing with the Euro so not entirely sure what is keeping the Markets motivated here?
When I see a lot of questions about the Market action it always brings to mind 'when in doubt get out' and I think just the latest disconnects to Bonds and the Euro might have investors thinking the same thing?
Have a Wonderful Week!
Markets on a Helium high
Morning Steve, it seems the Markets start to pullback and there is some fluff news to negate whatever prior negative news has come out. I am looking at the last overnight spike as another false Euro rally based on some hot air from China. We have seen in the past though that all the Markets need is some kind of ability to float over the negative news until something positive finally does come out. I am not sure how long this 'float' can last at these levels though. It is a bit like an old Twilight Zone episode, doom is predicted and just as soon as a little panic might be starting the 'News' says Nevermind it was a misquote 'All is Good' and everyone starts to party in the streets right before the supernova. My anticipation is a baby bear turn here and then a Grizzly after any relief rally. Now whether the baby bear has just been pat on the head and not let itself have much movement due to the 'news' might mean we all get a shock when the Grizzly comes through the door?
So I am holding Bearish here still as the Markets elevated at this level seems to be on nothing more than hot air, jmho.
Have a Wonderful Week!
Not much time to watch the Markets, Good Trading!
An interesting read
http://www.glassdoor.com/Reviews/CPI-Missouri-Reviews-E122.htm
Hopefully some management changes will help the situation
Back to 10:30 selloff?
Will see if we back to the downtrending 10:30 selloffs.
Need to see the rollovers of support to confirm more than just today.
In SPXU at 10.50
QQQ leading so really need to see a breakdown at 62 and rollover to resistance to confirm short side.
SPX 1340/1320/1300 targeted support levels with 1350/1360 resistance.
Anticipating SPXU retest of 11, next targeted support at 10 so might be early.
Enjoy the Day!
Hi Steve
Yes, it will be interesting to see if the Market gets a pullback here rather than another rally day.
So far all the morning buy the dip 10:30 has been repeating.
It sure seems to be a good indicator for the trend holding up, for now anyway.
Not sure now when we get the sell at 10:30 coming back in?
Spike low progression has been 1280/1300 so 1320 would fit right in.
Have a Wonderful Week!
SP Futures 1320-1325-1335
Big spike on the Econ news this am.
Anticipation would be a retest of 1325 as support but might consolidate out as it is Friday.
Usually a scenario for a gap n crap but the news looks pretty good so most likely consolidation, we shall see.
Nothing wrong with taking any Long/Calls profits on the gap.
Have a Wonderful Weekend!
SP Futures 1325-1318-1322
Looking like some topping action but the consolidation could move higher. Econ news this am was positive so will have to see if the 'sell the news' is in effect today or not.
Getting a disconnect from the Euro/TNX so it looks as though the Market is propped up here, we shall see.
Hi Steve
The candles still look topping to me like July/Nov/Dec. How the week finishes again might be key. 1300 will be the new pivot so as long as the Market can stay above it we could indeed get a retest of 1350. Failing to retest the last high might see some selling pressure come back in, we shall see.
Good Trading!
Yep, looks above
Time for another Bowtie to start?
Back above 1310 but with the Stoch still pointing down from a high and the DMI/ADX not getting a clear Low signal.
Tomorrow might be key if we close above or below that trendline as we could be starting a down channel from here if we stay below it.
Holding above I think we get another Bowtie and retest both top and bottom support levels again.
Feb could be 'welcome back whiplash' month?
Afternoon Steve, looks like Jan13
So far the same buy before 11am so that EOM plan you posted is ringing true so far. Closing above or below yesterday's low could be the key here? My anticipation was a rollover at 1310 that has extended so we Might be seeing recovered support at 1310. Still some time into the Close so it might depend on where the Markets are at 4pm and whether there will be anything promising or foreboding overnight. I have not looked at the calendar for tomorrow, now I see some light news but nothing major until Wed/Thurs. It is interesting to see the shifts between the 10:30 selloffs to the 10:30 buying here so still indicating uptrend. Any afternoon lower high here and a lower close could easily carry the week down though. 1300 could be Major if a rollover there carries into OEX.
So I am still looking at the short side with bounces from here, we shall see.
SP Futures 1310-1305-1302
Futures testing for support above 1300 for now.
Euro back to it's last tested support at 1.31.
Anticipation would be consolidation this area to test the support.
If 1300 breaksdown and rolls to resistance we could get another accelerated selloff, use Caution on Longs.
If 1300 holds support we could see another bounce to 1310 to test resistance again, but the anticipation is a drop into mid Feb.
Nothing wrong with locking in any Short/Puts gains short term though.
Have a Wonderful Week!
Hi Steve
I think 1280/1278 the pivot here now and could be retested.
As far as testing down to 1100 area by the end of the year that will have to be seen.
I think if we do retest 1280 area by mid Feb/Mar there could be another push towards 1350 by April 15th, maybe.
So we are due for another test of support, 1280 pivot 1240 megasupport, then bounce back to 1300/1330 resistance.
I am thinking in a short timeframe leaving mid Feb/Mar for another upside move.
In other words that chart will look much the same as it has the last 8 months, we shall see.
Have a Wonderful Week!
SP Futures 1310-1320-1310
Looking like some topping action in the Euro/DAX/FTSE.
It was interesting yesterday that the SP hit Tom DeMarks target of 1333 on the spike high.
The INDU is tested it's 100SMA yesterday also and the TNX had a rollover the prior day. Time to watch and see if the 100SMA will continue to hold support for the Markets or also rollover. So far every attempt at a breakdown has recovered. I always remember the saying 'Things keep happening the same way over and over until the day they Don't', so use some Caution on Longs here. Entering a Short/Puts position on the spike high the test of the 100SMA could have been an exit point. If the 100SMA rolls over as resistance then another Short/Puts position could be entered.
Good Trading and have a Wonderful Weekend Everyone!
Evening Steve
Busy with school this week so not online during the day.
Yes, Markets still are trying to find some upside but it has been starting to stagnate a bit.
Did not have a chance to see the State of the Union yet but would not be surprised if some cheering carries over into the Markets tomorrow, we shall see.
Have a Wonderful Week!
SP Futures 1310-1305-1315
Looks like some topping action in the Euro/DAX/FTSE. The Euro at 1.30 was a prior breakdown point so will be interesting to see how it handles it. Listened to the latest Tom DeMark remarks on the Markets and it sounds as though he expects a top this week, as do I, we shall see. The scenario he mentioned was a gap up day followed by a gap down day. We have been seeing a few Island top type weeks that have been ignored to downside, just keep it in mind.
Have a Wonderful Week!
Welcome to Ihub, great charts
RCKS on MKTSS just put up a longer term chart that I think is interesting. I am seeing more 3 5 10 week moves and we just tapped a resistance line ending week 5 here. MKTSS is always interested in short and long term views of the Markets. Other boards you might find of interest are BT's Timing Board and New Trading Systems -Think Tank.
Have a Wonderful Weekend!
Thanks, like the MACD crossovers
Will see if can break 2.25 for a run to 3.50.
Much appreciated!
TSON news
I see it popped up on Finviz.com top gainers this am.
SP Futures 1300-1308
Good Morning Steve! Yes, seems to be a bit of manipulation to the upside here. Overnight Futures a good test of Support at 1300 has the Markets back in Buy mode for now. That is a Great longer term chart showing how most of the 'corrections/moves' seem to come in 3/5/10 Week moves. I don't think we are in a Mid 2010 pattern but it is possible. My view would be more like Mid 2011 from here. As to whether this latest upside will last 3 5 or 10 weeks we will just have to see, but I am leaning more towards 5 weeks which could have it ending by OEX. If the weekly patterns repeat then it could be 3 5 or 10 weeks of downside, giving a bottom in Feb/Mar, we shall see.
Good Trading!
SP Futures 1298-1288
A bit of a downtrend from the overnight high but could be looking for support again. Took an extended weekend so missed the spike yesterday. Much like Friday's gap down buying we saw some gap up selling. Not sure if the cycle will continue that way but it seems the bigger the gap the bigger the reversal. The small gaps can often lead to continuation. TNX is yet to participate in the upside but is also at a potential support but Below it's Major SMA. Today will be a test as to whether the Support will Hold or we again get a breakdown.
Enjoy the Day!
Trend down day?
Friday's not usually a rally day, but would be a bullish sign if we do get another relief rally into eod. Anticipation is a bounce into Noon and then trend down again to lod at eod.
Today might be the Rollover day? Yesterday was a bit strange with the rally on Negative news, now we get selling on slightly Positive news, strange. With all the whiplash it is hard to determine continuation of direction. Nothing wrong with taking any short term profits though. Missed a couple daytrades on SPXU, perhaps today also, but holding for more of a swing, we shall see.
Have a Wonderful Weekend!