sniper's Account Talk

[nnuut]

If it breaks to the downside that may be froming a Head and Shoulders!

 

[wavecoder]

IWM nice green hammer candlestick into the close. booyah time?

 

[wavecoder]

big win for the republicans tonight, wonder how this will affect the market, if at all

 

[MaStA]

big win for the republicans tonight, wonder how this will affect the market, if at all

The futures seem to have liked the debate. Lately though it seems the more green we are on futures the higher chance of ending the day in the red and vice versa.

 

[Bquat]

The futures seem to have liked the debate. Lately though it seems the more green we are on futures the higher chance of ending the day in the red and vice versa.

No! Don't say that out loud.

 

[wavecoder]

well the russell 2000 is looking a lot like barack obama today

started with a big lead, gets smacked down, doesn't fight back, and ends up on the losing end

 

[wavecoder]

Bearish divergence on the DJIND

 

[wavecoder]

Just some thoughts today (1:20h before close)

Looking at the Dow Jones again, it looks like the bears hit support at the double top neckline / 50 day SMA, and it looks like so far we may close below it. One thing I always try to do is spot new trends, and the blue line below is something to look out for if we see a bounce from that area, it may be a H&S trying to form.

Two things that bother me. The largest volume spike we've seen since Aug 2011 was a huge sell/short move a little after mid september, and the market has gone south ever since reaching that level again (double top). This tells me that some big players shorted the market and do not want it to go above this for at least the intermediate term. secondly, is we're currently lower than the last low in the trend, which may be the start of a downward trend.

Will be interesting to see how it plays out, but I do think that october will be finishing in the red.

 

[wavecoder]

Both the S&P & DJIA closed right on the 50-day support lines, next week will be interesting.

 

[wavecoder]

went long TNA @ 59.25, things are lining up nice for a short term rally although I'm bearish in the intermediate term. just collecting a few % here and there when I see the opportunity.

SDOW stopped out for +1.1%, woooh, lol.

 

[wavecoder]

Today's movement on the Russell 2000 bounced off the previous cup & handle breakout point & closed at the 50-day SMA.

I'm predicting a little bounce until it moves to the 20-day SMA (blue line), which is about where the top of that down channel is at. Be careful from here though, ever since the QE3 breakout, a downward trend seemed to have been formed (lower highs/higher lows since mid sept). A case could be made that we still are in an overall upward trend, but this should just be something to raise some caution. Be careful all, and trade smart

 

[wavecoder]

markets finishing strong today, shake dat money maker

RUT close indicates that a gap up day to start tomorrow is likely, but with the debate tonight, tomorrow's open / activity could be a little more unpredictable than it would be under normal circumstances

 

[wavecoder]

Obama wins round 2, curious to see how this affects the markets tomorrow.

 

[wavecoder]

Nasty looking shooting star forming on RUT, if this doesn't change in the EOD i'll be looking to cut my profit. the 15-min chart does show that it's looking ready to bounce though, question is how much

daily chart


15-minute chart

 

[wavecoder]

nice, power hour just erased that shooting star and looks like a close over 840 resistance is in the bag. staying bullish for now.

S & I fund holders must be happy today

unfortunately for my tsp i already blew my wad this month, I'm still struggling with the whole 2IFT limit thing. Going to do some backtesting for some new ideas I've had to work with the TSP's limitations

 

[JamesE]

Going to do some backtesting for some new ideas I've had to work with the TSP's limitations

Good to hear, by all means keep us in the know. I appreciate your presence here very much!

 

[wavecoder]

Good to hear, by all means keep us in the know. I appreciate your presence here very much!

thanks man I'll let you know if I stumble on anything good hehe.

cut my TNA for +4%, 15 minute charts are looking like a selloff in the final hour is probable. going to wait from the sidelines for a bit for my next move

 

[wavecoder]

looks like H&S patterns may be trying to form on SPX and RUT. Of course anything can happen over the next few days / weeks, but just something to watch

S&P


Russell 2000

 

[wavecoder]

holy crap, i was expecting a down day but nothing on the scale of today. looks like we're gonna form the H&S and test its neckline a lot faster than I expected, ugly

might go short on the russell 2000 on the next intraday bounce.

 

[MaStA]

I bought a measily 73 shares of SPXU yesterday before the close. It's up 3.91% right now so that isn't too shabby in a day (as long as it holds).