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Snapback Tuesday Wrap Up
60

Snapback Tuesday Wrap Up

by The MoleAugust 9, 2011

Alright, it’s safe to loosen your seat belts and lower those tray tables again. Boy – what a session and what a contrast to yesterday’s glance into the abyss. I haven’t done a wrap up video for a little while but today I simply had to put one together as the Zero nailed this session on the head:

I concede that the divergence on the hourly took a while to form completely but that is a lesson we learned in the past. You don’t want to be too early, especially when the signal is still ticking strong in negative territory. A day or two near the zero mark is usually what I wait for – especially when volatility is sky high and panic selling is rampant.

Anyway, now you can relieve some of the scare you experienced today. Heck, I should be charging good money for this! 😉

I’ll put together a few target charts later today – now I’ll need a bit of a breather.

Cheers,

Mole


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • http://practicalt.blogspot.com/ Gold_Gerb

    My L*rd, a video!

    (big evil hug)

  • http://evilspeculator.com molecool

    I live to sever.

  • http://evilspeculator.com molecool

    Do you ever go home? LOL

  • http://pulse.yahoo.com/_N2BRXG3E35GXBXZTEBSXLUSDCM B

    Who does the soundtrack on the vid?  Tiesto?

  • http://evilspeculator.com molecool

    The first non-sub to tell me what song this is gets a free week of Zero goodness.

  • TwinTurboRX7

    Mole, is evil.rat going to run, now that VIX is almost above 35…
    We completed 2 out of 3 on the VIX buy signal.
    The last signal is another lower VIX if we get it tomorrow…

  • http://evilspeculator.com molecool

    Yes, if the 10-day VIX SMA remains above 30 I may just bring it back from the dead. 

  • Anonymous

    Anton Firtich – As The Rain Over The Ocean Comes (Daniel Kandi Mashup)

  • Anonymous

    correction –
    As The Rush Comes (Official Music Video)

  • Anonymous

    Motorcycle– As The Rush Comes

  • Anonymous

    DANG!

  • Anonymous

    I dont mind if Mole wants to give you free week, if your trading actively

  • Fearless

    The official VIX buy signal is generated when tomorrow’s VIX close is lower than that of today.  In my blackbox trading signals, a major “BTFD” signal would still be generated even if the VIX closes higher tomorrow, provided SPX 1120 is held.

  • Anonymous

    I’m not an active trader.  I just wanted to see all the charts. LOL

  • Anonymous

    I think you only get to see the zero, not all the ‘subscriber-locked’ blog charts

  • http://evilspeculator.com molecool

    Not true – doesn’t anyone ever read the little blurb on the bottom of each subscriber post? The Zero also gives you access to all private content.

  • Anonymous

    Thank you for the offer but I don’t have that much time to watch it during trading hours. 

  • http://pulse.yahoo.com/_N2BRXG3E35GXBXZTEBSXLUSDCM B

    1120 held all day, or just at close?

  • http://evilspeculator.com molecool

    Your choice – you were clearly the first. If you want to give it to PP then let him know. Whatever you guys decide – please send me an email to admin@.

  • http://evilspeculator.com molecool

    Yes! Very good! You actually almost won this one – I think I’ll offer you a free week for mentioning Tiesto. Email me to admin@ to get you set up. If you don’t have an old login you can make it easier for me if you sign up for Helter.Scalper for free and then send me your login name.

  • http://evilspeculator.com molecool

    I guess Amokta wins the price then!

  • Anonymous

    PP, Mole says you can see the locked-blog too in free week. If you still want it for that then no probs (ive been here a long while, and not trading too actively right now)

    If your not for the taking, then i will take it!

  • Anonymous

    Take it but when the snap back rally is done and it’s time to short please post this…  http://p3-entertainment.net/p3logo.jpg

  • Anonymous

    Ok 🙂

  • http://pulse.yahoo.com/_N2BRXG3E35GXBXZTEBSXLUSDCM B

    Cool Molecool! I’m always trolling for electronica, you should mention who they are more often in your wrap-ups.

  • http://pulse.yahoo.com/_N2BRXG3E35GXBXZTEBSXLUSDCM B

    Cool Molecool! I’m always trolling for electronica, you should mention who they are more often in your wrap-ups.

  • Anonymous

    Enjoyed the vid! Can not say who that was although good fit for today’s action:) Going to follow the tape as to where we go from here. ST anticipating this relief rally for the boys/girls to get short as 1250 cannot be breached for this trend to continue, or can it?. 

  • Anonymous

    Enjoyed the vid! Can not say who that was although good fit for today’s action:) Going to follow the tape as to where we go from here. ST anticipating this relief rally for the boys/girls to get short as 1250 cannot be breached for this trend to continue, or can it?. 

  • Anonymous

    To me it looks like we just completed a massive 3rd wave down that started at 1347, and we are currently in a wave 4.
    I have the following targets for the completion of the retracement
    1195= 38.2% retrac.
    1224 = 50% retrac.

    Given the size of the wave 3, I doubt we will see a much higher retracement, especially without POMO and no announcement about QE3.

    Just my 2c

  • http://practicalt.blogspot.com/ Gold_Gerb

    ok, we got a spike lower than March of 2009.

    look at those spikes to the left in 2008.
    (SPX:GLD)
    something to ponder….Hmmmm.

    http://stockcharts.com/h-sc/ui?s=$SPX:GLD&p=D&yr=3&mn=0&dy=0&id=p58934251667

  • Anonymous

    why not, we could have a nice short squeeze, although this past few days were probably more of liquidation of long positions and margin calls. Going vertically past 1250 and then dropping again…

    nah, just stupid mental masturbation, i’ll watch how PA develops. I am still afraid to go long here. That would be a massive range for SL – if today’s candle serves as a signal candle, SL is below 1077 or so. Will stick to some 5 min scalping now and there if a good opportunity comes along. 🙂

  • http://practicalt.blogspot.com/ Gold_Gerb

    oh man, the BPSPX chart, today is the 9th, right?
    400+ point up close, right?

    a lower Bullish Percent!? I expected a neutral kind of no update day.

    http://stockcharts.com/h-sc/ui?s=$BPSPX&p=D&yr=0&mn=6&dy=0&id=p84652413203
    risk off?  you got to be kidding me.

  • Anonymous

    Hum, especially since that signal normally turns prior to the market, right?

  • http://practicalt.blogspot.com/ Gold_Gerb

    no, I’ll admit it’s a lagging indicator.

    maybe it will turn tomorrow.
    if so, that is fine.  it the opposite of zero lite.  it’s a slow titanic capital kind of tool.

  • Anonymous

    Hi guys, targets for selling this rally. On ES mini?

  • Anonymous

    When you stop being bearish and thibk its a bull market again!

  • Anonymous

    congrats on giving a smart ass answer. but I am not bearish. It’s just a nick..

  • http://practicalt.blogspot.com/ Gold_Gerb

    Hey Guys, just a little ES update.
    click on my name, and then my weblink –

    or for the ultimate in evil laziness click here –>  http://practicalt.blogspot.com/2011/08/believe-neo.html

    keeps me from spamming this forum up.

    Cheers.

  • Anonymous

    CNBC showed a H-S last Wed on the front page, I think. WSJ had that chart on the front page of Money Column today. Isn’t that the neckline is often tested?  If ES quietly go above 1200, we might see fireworks into 1250? Just a thought.

  • Anonymous

    CNBC showed a H-S last Wed on the front page, I think. WSJ had that chart on the front page of Money Column today. Isn’t that the neckline is often tested?  If ES quietly go above 1200, we might see fireworks into 1250? Just a thought.

  • Anonymous

    Its funny how language and identity subtly affects our beliefs. It is the most difficult thing to stay objective, I respectfully suggest that you choose a nick that doesnt encourage your subconscious one way or the other 🙂 Impartial Trader, perhaps?

  • Anonymous

    Alright. ES is not the only game in town. 10 yr is at 2008 level why not short that. Serious this time. Dont even think about shorting the ES anytime soon. Last few posts of Volar and Scott and Mole should be enough to dissuade you.

  • Anonymous

    I hear alot of people talking about a retest of the neckline, makes me think it won’t happen.

    I will be looking closely between 1195 and 1225.

  • Anonymous

    hey, can someone help me understand the dynamics between the Zero Indicator and Market? Is it based on Volume and Momentum, or something else? also, and more importantly, how the hell do i use the damn thing? Do i need Trade Station or something to link up to it, or can i stream it through the internet?

  • Anonymous

    if its too complicated to talk about in this blog, can someone please email me at bob.c.shea@gmail.com , i tried taking a look at it today but couldn’t figure it out. any help would be much appreciated

  • Anonymous
  • Anonymous

    thanks Lance, just downloaded it. is there any lag during the trading hours or is real time?

  • Anonymous

    You gotta watch and learn the Zero.  It’s taken me months, and I still need hand holding, but I’m doing better.

  • Anonymous

    thanks badger. any hints on how to read it? will take experience over guessing any day of the work

  • Anonymous

    ****week

  • Anonymous

    sorry, gotta go beddie bye

    but,  keep following Evil Spec, pay the $50 a month to watch the Zero, it’s a learning curve.  I still don’t get all the nuances of the divergences, but when they are read correctly, they pay off.  Like today on the 1hr and the 5minES

    Good luck and good nite!

  • http://pulse.yahoo.com/_N2BRXG3E35GXBXZTEBSXLUSDCM B

    I KNEW this was coming: http://www.marketwatch.com/story/law-from-2006-gives-sec-scope-to-probe-sp-2011-08-09 This has nothing to do with a crime or justice, just dog eat dog politics. What a waste of a nation’s time. 

  • Anonymous

    selling i meant, not shorting. 🙂

    thanks.

    will see 10 yr ..

  • Anonymous

    hmm. then maybe i shud have it ‘best trader’. lol. thanks though… i get what u saying. might change it to smthing else.

  • omelette

    zero is near real time. the png is updated every 30 seconds. As it is running on the 5 minute chart, it’s best to wait for the current bar to finalize before using the signal presented so you don’t lose much by not having it real time. Aside from the tutorial the best thing you can do is go back through old posts and wrap ups and read the commentary there. After that it’s just a matter of applying what you’ve gleaned and, to some extent, just being comfortable with using it.

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤ø„¸  N E W  „ø¤º°¨ 
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • http://evilspeculator.com molecool

    Here you go:

    http://evilspeculator.com/?cat=42

    TONS of examples on how to use it – with video!

  • http://evilspeculator.com molecool

    Actually every 20 seconds – but don’t overuse it 😉

  • http://evilspeculator.com molecool

    I edited your addy so you don’t get spammed.

  • http://evilspeculator.com molecool

    I edited your addy so you don’t get spammed.