05/02/2012 Live Update

[Cobra]

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Big gap down but within yesterday's range so not sure the gap will be filled or not.

The Global ES is at key support area, my feeling is a rebound of some kind here, then we'll see. Bears need see the rebound to fail then decisively break down below the support area to confirm the trend change, so too early to call bear.

[CarlosDK]

Cobra , by statistics the coming days is bearish ,, and euro looks topped out? YOu dont think the markets topped out short term yesterday?

[Cobra]

DAX went as I expected in 04/30 Market Outlook, another possible bearish reversal bar is in the forming (and also a potential H&S Top), which sure doesn't look good.

[Cobra]

Cobra , by statistics the coming days is bearish ,, and euro looks topped out? YOu dont think the markets topped out short term yesterday?

I think I clear said in yesterday's report: the market will take a breath here.

[CarlosDK]

Ok just seems hard to think markets will make new highs with actually euro going down hard.

[CarlosDK]

And as you say Cobra ,, DAX looks like a hs pattern about to breakdown... not good stuff

[Al_Dente]

Good morning all

Facebook IPO is now scheduled for May 18 (IPO dates are always flexible) at $75 billion (also flexible), the largest IPO ever in the history of mankind.

[PoorHomey]

I think I clear said in yesterday's report: the market will take a breath here.

Hopefully it's "take a breath" and not "stop breathing"

Sent from my MB855 using Tapatalk 2

[cougar]

GM Cobra!

Confluence validating bearish SPY bat: 161.8% extension, 88.66(*) retracement, MM7/8 & harmonic fan line. Of the various tops discussed with Clark on Sunday, this looks like a good one.

Drop under 6/8, by gapping down, is almost certain now. This move might also mark the transition to a new octave where 7/8 becomes top ( 8/8) also discussed with Clark.

=================

(*) 0.8866 is sq. root of 0,7861 which in turn is sq. root of 0.618

[cougar]

$GLD drop and attempted recovery in pre-market…so far

[Cobra]

Guys if you have followed me, please don't "unfollow me", the follow button need only click once (http://stockcharts.com/public/1684859), it's the vote needs to be clicked everyday, thanks.

[cougar]

IWM yesterday: fast transition to a selling mood:

[KeiZai]

Good morning, I posted DAX chart in WW with 1-2 so it was obvious Im expecting 3 (ended at the Europe open on monday)-4-5 and now Its all done, the question is whats the next...I think we will bounce at open to test the short-term trendline then down again, but how far we will go nobody knows

[KeiZai]

Nice charts cougar, great to have you back!

[cougar]

Nice charts cougar, great to have you back!

Thanx! I like your charts and discussions too!

[Cobra]

the open.

[TraderGirl]

Today is supposed to be another big move...could be down into ADP report, then sharply up...??? I see an energy graph that says up, but then drops off like yesterday...

On the 5 year chart, I tweaked this trend line, it looks like we attempted to get above it, but sharply pulled back. Could be something we attempt to get over but can't...??

[TraderGirl]

something interesting...VIX and XIV trading in a triangle....

[TraderGirl]

Here is XIV

[TraderGirl]

I don't know what Apple will do, I think it looks like others can't decide either, could also be trading in a triangle...