07/02/2012 Live Update

[Al_Dente]

PAGING KENA, DOME KING
interesting big arc-half-dome on SHY (thanks pez) daily chart
(selling short term notes; no such dome yet on TLT)

Thanks Al_D..That was a nice dome and did correct to the 1 st point.

This is what I’m looking at, dailies:
dome SHY
no dome TLT yet
what u think?

[OverUnder]

I wouldn't do that in a million years, but if you can hold it for a few days/week you might be OK. I would definitely wait til tomorrow. But honestly, I personally wouldn't do it either way.

will buy UVXY tby the end of today

[KENA]

With all the slow dn I just can't see the mkt moving to new all time highs or even the last lower high.Where will all the Mfg. sell their products.Of course the mkt could drive the up on maybe QE3.This does not seem to real.Next year after election could be a dn year for the mtk.I guess we should not think about what the mkt will do but just trade it day by day.

[fulkdaddy]

nothing to say, I said it's boring day.

Cobra, we broke to a higher high today so Evil plan holds for higher high today correct?

[Cobra]

trend line. still nothing to say.

[KENA]

PAGING KENA, DOME KING
interesting big arc-half-dome on SHY (thanks pez) daily chart
(selling short term notes; no such dome yet on TLT)

Thanks Al_D..That was a nice dome and did correct to the 1 st point.

This is what I’m looking at, dailies:
dome SHY
no dome TLT yet
what u think?

72domebull.png

It is hard to tell right now but I don't think a dome will form on TLT.I would not trade based on this one.

[Cobra]

nothing to say, I said it's boring day.

Cobra, we broke to a higher high today so Evil plan holds for higher high today correct?

today could be seen as consolidation, so no conclusion for the intermediate-term trend. Usually tomorrow would be up, so guess we'll have to wait after the holiday.

[Al_Dente]

[save for later]
Another intervention chart … this one from the FED pov point of view, with better details (but lacking an SPX overlay for reference)
http://www.zerohedge.com/news/chart-day ... tions-2008

[Petsamo]

Bull flag breakout on IWM

[Al_Dente]

PAGING KENA, DOME KING...

Thanks Al_D..That was a nice dome and did correct to the 1 st point.

This is what I’m looking at, dailies:...

It is hard to tell right now but I don't think a dome will form on TLT.I would not trade based on this one.

thanks boss

[jdow]

trendlines fwiw. triangle?

( ..."I think the clock is slow"...)

“I dont feel tardy”… name that song.

[Cobra]

up trend line.

[btran874]

One more day of sideway tomorrow it seems, so boring... yawn...

[SWalsh]

It is really amazing to see that the market is still at these levels after seeing ISM in contraction (not to mention that this is a huge drop from a month ago). It is in a steady decline (like ECRI) and usually market starts to turn around when there is a glimmer of hope. I have no idea how the market justifies these levels

HFTs seem to be especially interested in keep low-lying bids when really bad new comes out. What could really harm this market? A major mutual fund saying it will be liquidating its holdings over 3 years and sending out checks as it does not see the stock mkt as viable anymore. And the clown in the Oval Office would lean back, put his feet on the desk, and say to himself, "Success".

Could a mutual fund shut down voluntarily? I'll bet some do as more of this crap called a mkt rips them off.

[Cobra]

still in the wedge. bears have nothing to worry here if bulls close strong again.

[Petsamo]

IWM is so happy

[MrMiyagi]

Now I'm thinking a red day tomorrow if we close at these levels; NYMO should be over +80, although it has been known to go higher still.

[Cobra]

overshot, maybe a little pullback before close?

[Cobra]

well, guess that's it for today, typical small range day after a big day, boring. tomorrow only half day trading so no big volume therefore no big guys are selling thus usually a green day. Thank you guys, I'll see you tomorrow.

[Petsamo]

5.84 million last buy on SPY