thanks. Yeah, this could be a decent bounce.  In the past this indicator suite has marked intermediate bottoms.  Any sense of whether it's more or less likely to do so this time?  I have no way to judge, except I am bearish.  Which means it WILL be a bottom, lol!

On the 15-minute chart.

Matt, I've got the 60, 89 and 144 stochastics all breaking above 20 simultaneously.  Would you comment on this signal?  Seems like a pretty powerful one, considering volume is also high on the SPY.

Thanks, 

Roger

Sure, but the mkt could bounce for a few days and then head back down.  Also, it doesn't have to fill the gap on this go-round.  Could happen in 2013.

that .618 fib lines up w/ the 2.618 multiple almost to the penny (at 1346).  It will be interesting to see if we get a bounce there.

GDXJ - Stopped out.

bought yesterday, sold today.  Tough one to trade, I took profits while I had them.

Shaved bottom daily candle on SPX - not good.

I'll be getting out for a small loss today.

Stop at 22.75. Volume since noon (when gold shot up) has been very good.

also bought some GDX when it cleared the morning high.  Wide stop, long term position.

GDXJ - thank you for covering in the newsletter last night, Matt.  I bought some this morning, and a little more when it cleared the morning high.  Stop below the 200ma, looks like a promising trade.

What'd you do, send this graph to every trader on Wall St.?     Market just blasted through the morning high.

HL - earnings.

more than an hour wait this morning.  I'm going back after lunch.

nearly tagged the 9ema on this last push.

Or maybe we are seeing a head and shoulders develop on the intraday time frame (see 30 min chart)?

Volume was much higher on Friday's selloff compared to today's relative inactivity.  Probably the election - traders don't want to be positioned too heavily in either direction I suppose.

well, the bottom of Oct 26 has held on the SPX so far.  Reversal day?  Anyone seeing it this way, or am I just whistling past the graveyard?  I can always wait for the newsletter. 

This is the kind of analysis that helps make you guys such a helpful and relevant site.  Steve, thank you.

Roger