05/23/2012 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks!

If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday: http://stockcharts.com/public/1684859, thanks!



Flat open so any gap will be filled.

I'm neutral on Global ES. The pullback halted at Fib 61.8% so it's bilateral, we have to wait and see.

[Cobra]

DAX playing around neckline, still not looking good.

[stucap]

EUR/USD made a new low this morning and then took off.

ES tested 1305 support and broke then back up hard now.

If mkt were open now, might be more sellers to try again, but without that volume, likely to keep pushing up and close any gap. Nice little ping pong trade for the pros to bank before the "day" begins.

[grachu]

cobra , for your voting when we press the link . why don't you put for first chart the SPY ? its the most visited no ? so once you click we get to the see the spy or the ES . what you think ?

[KeiZai]

Morning charts busy to update

DAX (optimistic view)

EUR

[cougar]

GM!

IWM still the weakest
AAPL 130 min: resistance /reversal at 50% retracement & Square of 9 levels
SPY should visit again the bottom of the octave
DUST up in the pre-market, but could go higher

[ZimZeb]

Should the last half hour's futures goosing continue into the open:

[Al_Dente]

Morning charts busy to update
DAX ...EUR

EUR235.png

Thx Keizai
When u have more time, throw up your dxyo chart
Okey dokey?

New Home Sales 10:00 ET
Consensus is 335 k (range is 325 k to 355 k)

Short-selling ban update.
zh yesterday reported a 15 day prohibition on shorting Spain’s bank stocks, in effect now... source text is in Spanish:
http://www.zerohedge.com/news/official- ... elling-ban

[Cobra]

the open.

[KeiZai]

Morning charts busy to update
DAX ...EUR

The attachment EUR235.png is no longer available

Thx Keizai
When u have more time, throw up your dxyo chart
Okey dokey?

New Home Sales 10:00 ET
Consensus is 335 k (range is 325 k to 355 k)

Short-selling ban update.
zh yesterday reported a 15 day prohibition on shorting Spain’s bank stocks, in effect now... source text is in Spanish:
http://www.zerohedge.com/news/official- ... elling-ban

New high in dollar, larger trend is towards USD strength but I think consolidation here is not a bad idea

[Auole]

Well, essentially my golden butterfly and special 'M' patterns (only for gold) are complete. This next (little, I hope) downslide in gold and silver will be to give a bottom divergence indicator. Butterflies - in zenbuddhism represent the delusive nature of our thoughts and feelings. Or in the ancient writing of Zhuangzi--Did you dream the butterfly or did the butterfly dream you?

250px-Zhuangzi-Butterfly-Dream.jpg (17.79 KiB) Viewed 5818 times

The 'M' in my heart's mind is for Mary, Mother of Jesus, for whom gold was provided at His birth as they were told in a Dream to flee to Egypt shortly thereafter. The daytrader is given an opportunity in times of 'correction' to understand true wealth!?!. In the TechTrading Technique of the 'M', surely you agree that it was the butterfly who dreamt me first.

Paging Cougar - saw your page post last night and answered you at end of weekend watering. Here's quick click thru:
viewtopic.php?f=2&t=550&start=40
Great trading to all today.

[Mr. T]

Any hope for the bulls today???

[Petsamo]

I see a rally

[Mr. BachNut]

I am a little short.
Put a seed on at the close yesterday (based on precipitous drop) and a little more on overnight when lows were broken.
Thesis is that this move may be comparable to the Jan/Feb 2010 decline and the May/June 2010 decline where Oscillator got way overextended rebounded for a few days and then resumed decline.
Yesterday satisfied minimum bounce in terms of percentage and time.
Position size is small because evidence is not confirmed nor statistically significant.
Stop is tight and a higher high and close today would invalidate the thesis.
Lower high and close (lower low already checked) would support thesis.
I don't feel strongly about the position and think anything can happen.

[TraderGirl]

spx...?

[Mr. T]

I see a rally

"I see bankrupt people....... they think they have money, but they don't".......

lol, Sixth Sense

[BullBear52x]

DBA thinks we are leaning deflation

USD think so too at the moment.

[BullBear52x]

Good bye kiss, sell the rip is back on.

[KeiZai]

DBA thinks we are leaning deflation

The attachment 1.JPG is no longer available

USD think so too at the moment.

DR.Copper almost there

Dollar have biggish iH&S with target 90.6

[Mr. T]

Good housing data didn't do jack.