04/26/2012 Live Update

[Cobra]

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Small gap down within yesterday's range, so chances are the gap will be filled.

The Global ES failed the breakout overnight but given the push up we had in the past 3 days, I bet bulls will give another try sometime soon, not necessarily today though, let's see.

[Cobra]

the open.

[Petsamo]

The small diamond DAX formation became a larger diamond formation

[KENA]

Watch this movement ..The red and green need to cross over before a rally up will start.In all other rallys when these crossed the mkt went up.Compare it with the S&P.The chart is not confirming this up market move and maybe what we are having is a suckers rally.Institutions are still in distribution even yesterday.Liquidity had an up tick yesterday.As always wait and see.

( Chart by Stocktimeing )

[Petsamo]

XOP is leading the way up

[Cobra]

not a bullish chart I shall say (for today of course), lots of overlaps.

[stucap]

Mkt looks like it wants to fill the gap but, I'd expect some pullback after that happens. Likely a range day between 1380 and 1390 ES.

[TraderGirl]

I posted this last night, very interesting cycle on AAPL....

Check out this 10 year chart of Apple. Up to 12/07 Apple peaked in a 1 year cycle, 3 peaks then a final breakout to the upside for the 4th peak. It then formed a double top and corrected in 2008/2009 for a year along with the rest of the market.

Now, Apple has had 3 peaks in an 8 month cycle, breaking out into it's potential 4th peak. If the 8 month cycle continues, (last peak was 10/17/11) we could see a top in mid-June 2012. There is a Bradley date on June 12, and I expect that it could represent a significant top and decline in the market.

In 2007, Apple topped out on 12/27/2007, while the overall market began correcting a month and half earlier, but once Apple began to correct, the market sold off heavily, so the market could trade in a range and then June could represent a pretty big sell-off if this cycle persists...

Then that would leave the chance for a rebound and double top sometime in 2013. I have read from cyclists, astrologers and many others that we could see a significant bear market that lasts from about Q1 or Q2 of 2013 into 2014. So there is the potential for Apple to play out the same pattern going forward....

[Cobra]

resistance. a consolidation here or pullback before trying to break the resistance is better because bulls have traveled very long to attack the resistance so better take a breath.

[Cobra]

testing the line.

[taggard]

Watch this movement ..The red and green need to cross over before a rally up will start.In all other rallys when these crossed the mkt went up.Compare it with the S&P.The chart is not confirming this up market move and maybe what we are having is a suckers rally.Institutions are still in distribution even yesterday.Liquidity had an up tick yesterday.As always wait and see.

-%20AAA.png

( Chart by Stocktimeing )

volume was slighly lower on naz than a few days back. and part of yesterday was shorts covering. a key idea with cboe showing .75 on a closing basis--which is not hopeless but is showing the "no fear" the same quote you used to see on teenage truck bumper-stickers not that long ago-- the same belief that freaked me out when i first went to see blackhawlk down at exactly the wrong time (friday nite--sigh) and the place was full of guys who saw the movie as a gung ho major victory) how about "some fear--some thinking--some serious commitment" maybe too long for your bumper--but longer sticker longer life.

mr bachnut 2nd post may turn out to be predictive

Another possibility to consider for the days ahead is a continuing chopfest in a trading range. A rectangle chart pattern if you will. These are corrective in nature and can serve the same market purpose as a shorter trend to the downside. This would not be good for me, but the swing traders out there could have a field day.

[Cobra]

interesting, 4 identical push up.

[TraderGirl]

spx..

[stucap]

interesting, 4 identical push up.

interesting, how?

[SWalsh]

T-Time is about 11:30 on a 10 min chart, but using the hourly is more reliable which puts that at 12-1 PM. This has nailed a good number of turns in the last few weeks. We also have the possibility that we are finishing C or a correction and that warm and fuzzy AAPL feeling does not an entire market make:

[Cobra]

If I read this chart correctly, we should due for a small pullback here.

[KENA]

I don't want to spoil the bulls fun but the Transports and banks are not buying todays hype.With out them the mkt may go dn.Lets see if this housing blip will pull them up.I don't think so.Wait and see.

[stucap]

I don't want to spoil the bulls fun but the Transports and banks are not buying todays hype.With out them the mkt may go dn.Lets see if this housing blip will pull them up.I don't think so.Wait and see.

good housing number and the IYR is red? doesn't make sense. Sell the rip?

[TraderGirl]

Transports are trading in a triangle, hit upper resistance again today. Needs to break out to the upside. Target could be around 5650, which is what I am hoping for, because then it has more chances for a double top...

[TraderGirl]

10 Year chart, hoping for a double top...