07/09/2012 Live Update

[ClarkW]

Materials (XLB) not looking good. Holding SMN and will continue to do so overnight. (NOT A RECOMMENDATION)

[nicha]

Cobra - what's ur take on AAPL for a swing?

[SWalsh]

Does this look about right to youz guyz and galz?

It looks like the whole market, no? We are just like in "Demolition Man" and Apple survives "The Algo Wars".

I feel like praying the Mayans were right

[Auole]

Harapa - simply Awesome chart on the Aussie. For anyone newer at this the Aussie/US$ correlates to commodities [Harapa says equity lately; Forex shadowtrader BlakeYoung says commodities and the AUD/JPY is for equities; I say SHRUG SHOULDERS ]. Here's how I map where we are presently. MarketForcast - TOS or Investools available only to my very limited knowledge. Nice tool! On this AUD/USD daily: red=near term, blue=intermed.term, & green = I hope self-explanatory. My read is CCI and STO will probably go back up and make lower hi's CUZ MktF green is @ a high and blue-red are converged @ the bottom with yet a little tiny higher low => going up again probableee. I add here that this is about the same on gold & silver charts. If you add Cobra's present take for probableee a next lower Hi to the July 3rd High kinda all makes sense. BTW which I will post next is a SPY showing that MrketF is showing that SPY/SPX/DJI is finalizing this present downturn and should soon turn and go back up (and/or could possibly flutter around @ bottom and go on down).

WEEKLY:

[Petsamo]

If we gap down, it won't be by much.

[nicha]

Unless AA earning suck miserably.

[MrMiyagi]

Unless AA earning suck miserably.

Below 5 cents/share? How could that happen?

Based on momentum, TLT/TBT NYMO, I think green tomorrow but not betting.

[SWalsh]

This will become a riot if the public gets to fade the moves, and profitably, at the end of the day as the algos have to get flat.

[Cobra]

well, guess that's it for today. a strong uptrend should never have 3 down days in a row, so go figure yourself. Thank you guys, I'll see you tomorrow.

[nicha]

Unless AA earning suck miserably.

Below 5 cents/share? How could that happen?

Based on momentum, TLT/TBT NYMO, I think green tomorrow but not betting.

There is the forward guidance AA well. Personally, they shud beat 5 cents but stranger things have happened.

[Auole]

SPY Daily and weekly. MarketForecast indicates that the longer term green line must first show some weakness before heading down in earnest.

the WEEKLY:

[Petsamo]

We have a possible ascending wedge

[MrMiyagi]

There is the forward guidance AA well. Personally, they shud beat 5 cents but stranger things have happened.

Well now, here you go;
Alcoa Reports $0.00 Per Share From Continuing Operations; Income Of $0.06 Per Share Excluding Special Items

[SWalsh]

Unless AA earning suck miserably.

Below 5 cents/share? How could that happen?

Based on momentum, TLT/TBT NYMO, I think green tomorrow but not betting.

Oh Professor, what am I missing with the NYMO here? That is the NYSE McClellan Oscillator, is it not?
(wax on...wax off)

[SWalsh]

Plausible count on bonds....everything looks great at the high. It's like a married couple on their wedding day....flash forward 30 years

[nicha]

There is the forward guidance AA well. Personally, they shud beat 5 cents but stranger things have happened.

Well now, here you go;
Alcoa Reports $0.00 Per Share From Continuing Operations; Income Of $0.06 Per Share Excluding Special Items

So far so good. Let's see where this takes us. I think no major earnings till Friday now.

[snakehead]

Plausible count on bonds....everything looks great at the high. It's like a married couple on their wedding day....flash forward 30 years

I am not that versed in EWT but to my naive chart-reading mind, this looks like a breakout out of a bull flag/pennant.

(TLT).

[MrMiyagi]

AMD says that 2nd quarter will suck. Shares down.

[xfradnex]

Daily Elders. Europe, Japan turning red. Canada Green after holidays. Just need a tiny amount of bad news and we may have a Red stretch. Also noticed that the ratio of High Reds to Low Reds is at an extreme; my interpretation is the markets are hitting lower resistance. Expecting a fight to break these stops. Expect someone in the fed/EU to open their mouth with good news at the breaking point.

[SWalsh]

Plausible count on bonds....everything looks great at the high. It's like a married couple on their wedding day....flash forward 30 years

I am not that versed in EWT but to my naive chart-reading mind, this looks like a breakout out of a bull flag/pennant.

(TLT).

EW aside, where is the flagpole, mast, or even the Bat Pole (asked Robin) to the pennant? It can't be the big run up as it's at half-mast then. But that could be when Obamacare was passed