04/17/2012 Live Update

[Cobra]

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Gap up but within yesterday's range, so the gap might be filled.

The Global ES is at a key time for bulls because it's revisiting yesterday's high, so no failure allowed here, otherwise the rebound might be over. I'm neutral for now.

[Al_Dente]

Good morning
Rorschach of the past 6 days
Last week was all trend days, bear and bull (>2000)
Yesterday was a choppy/range/lobster-claw day
Some prop trading desks go very small on range days, and ALL IN on trend days.

[Cobra]

the open. already reached 100% Measured Move target.

[Petsamo]

CHK anyone?

[KENA]

Liquidity is still up.If liquidity goes below last Tue. the mkt will go dn..If above mkt will go up..By Stocktiming.com

[BullBear52x]

GM,
another gap day, but my swing sell is still on. no buy on SPY.

[Mr. BachNut]

I am closing long trade this morning at a modest profit. Action since this setup triggered (which is based on a cumulative extreme of the McClellan Oscillator) has been weak and inconsistent with prior experience. Also, per the setup, a lower daily low, as seen yesterday, is a warning sign. So, while the market could go higher here, this particular setup is not behaving the way it should. So, I am benching it.

[Mr. BachNut]

I am closing long trade this morning at a modest profit. Action since this setup triggered (which is based on a cumulative extreme of the McClellan Oscillator) has been weak and inconsistent with prior experience. Also, per the setup, a lower daily low, as seen yesterday, is a warning sign. So, while the market could go higher here, this particular setup is not behaving the way it should. So, I am benching it.

[OverUnder]

Enormous selling on gold just now, possibly relating to Obama's just announced new proposed regulations on oil trading spilling over to other commodity trading.

http://finance.yahoo.com/news/obama-see ... 30079.html

[OverUnder]

Gold could easily sell off to bottom of yellow channel at minimum.

[OverUnder]

There is also a much deeper white channel. Last post on this, sorry, couldn't figure out how to do this all in one post.

[KENA]

Point of interest for the AAPL and GOOG fans.

[TWT]

SPX: 2 options that could delay the kick-off of the second down leg off the April 2 peak

[Al_Dente]

one min internals

[TraderGirl]

Looks like it is buy at close, sell at open...looks like we will be up into Friday's turn....

[Carlos]

I have scottrade and the mcclellan oscillator is not available. I would like to use as I have heard good thing by using it.

Anyone know how to get it? Is there a free way? Other than via stockcharts which is pay.

[stucap]

Looks like it is buy at close, sell at open...looks like we will be up into Friday's turn....

i don't see much selling going on here at open.

[Al_Dente]

OverUnder
thanks for the charts and the LINK
silver is feeling it too

[proteus46]

A lottery ticket:

AAPL 630 April 12 calls @ .40

expires in 4 days

[Al_Dente]

I have scottrade and the mcclellan oscillator is not available. I would like to use as I have heard good thing by using it.
Anyone know how to get it? Is there a free way? Other than via stockcharts which is pay.

try paging Mr. Bachnut
i think he has a bloomberg link to free mcclellan chart (?)