10/14/2014 Live Update

[gappy]

Lunchbreak lookin.

Capture.PNG

Vote Cobra. glta

[Cobra]

we might be here.

[fehro]

we might be here.

looking like a minor H&S

[FlowerGirl]

[Junior Buffett]

spy bf.png

spy bf.png

very dangerous chart pattern!!! another 2% drop???

[uempel]

Update on the megaphone:

[fehro]

SPX 2m.. on the edge of the orange bear flag.. breaks..look for green

[Junior Buffett]

Update on the megaphone:

frew.png

Uempel,

I thought it did reach above trend line and looks like it's still there..don't you think?

Thanks

[BullBear52x]

back to sell just like before.

[Junior Buffett]

Update on the megaphone:

frew.png

Uempel,

I thought it did reach above trend line and looks like it's still there..don't you think?

Thanks

[jademann]

there she blows.. more money to stock market heaven

[uempel]

Update on the megaphone:

The attachment frew.png is no longer available

Uempel,

I thought it did reach above trend line and looks like it's still there..don't you think?

Thanks

Warren, it looks as though it's fighting at the trend line, which is at approx SPX 1890. If I look at the MA 390 on the 1 minute chart I see the same picture: so far SPX is still too weak to cross that important line

[chetas]

Uempel,

what is the logic behind using 390 MA , its a SMA or ema?

[uempel]

Bye guys, I'm off for today

[Junior Buffett]

Bye guys, I'm off for today

LOL..glad you are not in for job interview..hahaha..

[Cobra]

goes as guessed. the error was I thought the last push up would make a new day high but it didn't which means bulls are weak. I don't think this pullback would go far though. let's see.

[DellGriffith]

GLD hit upper bollinger band. Good spot to pull at least some off the table.

[uempel]

Uempel,

what is the logic behind using 390 MA , its a SMA or ema?

You are lucky, I was just about to go for a drink I don't know if it's logic, but the trading day has 6.5 hours and that's 390 minutes.
Many traders use the 5 MA on the daily (5 days a week), the 32.5 MA on the 60 min... The only logic I can see is that these MAs are widely used by traders. Might have a historical context which I don't know.

And it's no EMA, I suggest not to apply EMA on short time frames below 60 min.

[BullBear52x]

Uempel,

what is the logic behind using 390 MA , its a SMA or ema?

You are lucky, I was just about to go for a drink I don't know if it's logic, but the trading day has 6.5 hours and that's 390 minutes.
Many traders use the 5 MA on the daily (5 days a week), the 32.5 MA on the 60 min... The only logic I can see is that these MAs are widely used by traders. Might have a historical context which I don't know.

And it's no EMA, I suggest not to apply EMA on short time frames below 60 min.

I use 390/377 (rounded to Fib sequence number ) on 5 min. which is the same as 5 dma on daily.

[fehro]

SPX 2m.. possible flag retest