07/11/2012 Live Update

[Cobra]

well, guess that's it for today. I need dig a little before calling tomorrow. the FEELING favors bulls though. thank you guys, I'll see you tomorrow.

[wayne0708]

well, guess that's it for today. I need dig a little before calling tomorrow. the FEELING favors bulls though. thank you guys, I'll see you tomorrow.

Thanks for comforting bulls, I just added long position before close

[SWalsh]

SPY is looking good for the bears. If we finish at these levels, I wonder if we get another surprise gap up

i'm seeing a shitton of buyers.....

Wait no likey FOMC? Hello PPT! Bull porn.

I posted the bull porn HFT chart....and damn...what a shocker that they did it again!

[SWalsh]

guys, please vote for me. I lost today's trade on the upside in the morning, didn't get it back yet, so once again I need some bailout package. http://stockcharts.com/public/1684859

I vote for you every day. Wish I could vote for you more often.

R U a Democrat... (kidding)

[TraderGirl]

I would not be surprised if we get another attempt to go higher in the morning, and then fall again during the day for a potential wave 5...
potential support on SPY around 132.5

[Mr. T]

So who's doing this BS end of day ramp each day????

It's like every 2 or 3 months, they just pull that out of the play book and run with it. Then when the Muppets figure out that's the game again = they stop.
Great plan, works like a charm......... but WHO is doing it?

HTF? PPT? Ben? ECB? The moon's gravity on the Earth?

[TradingJackal]

I did not believe this myself (as I have not dug into it a lot) but there is a guy over at Daneric's website - SoulJester or something. He is 10 out of 10 with this system of his called Red Line Something. He told the date and number for SPX turnaround (today and 1333) a few days ago. It happened as he said it would. Now, his system predicts two weeks of Rally. Rather than me rehash what his system does, please do give him a read. But Cobra is still the king! BTW, his system is equating this leg up to the one just before we fell off the cliff in 2007.

AAPL releases earnings on July 24th. No one believes the low ball earnings 'estimates' from all the companies ou there that are easily beat. The only company that has real growth and earning (that matters) is AAPL. They have till recently exceeded the estimates by a wide margin. What if they beat the 'estimates' this time too but not by a huge margin? Would that finally wake the market up to taking profits? Would fit in nicely with the 24-27 turn date (forget which) according to SJ's RLS system.

[seeyou]

AAPL setting up for a gap up and run.. Thursday / Friday

[poulsbotrader]

Why do you think apple is setting up to gap up and run this Thursday/Friday?

Sent from my DROID2 using Xparent Green Tapatalk 2

[xfradnex]

Good Dark pool Article: http://www.minyanville.com/sectors/tech ... 2/id/42282.

[xfradnex]

Daily Elders. A little more into the Red for the world. The Low Elders are not are red as the High and Close Elders (Lower resistance is still on). Risk off Ratios (example XLY/XLP) = 3 of 4 still. Conditions still OK for more down. GLTA What, no comment from Dr. Al from yesterdays submits.

[seeyou]

Why do you think apple is setting up to gap up and run this Thursday/Friday?

Sent from my DROID2 using Xparent Green Tapatalk 2

Bull markets give only 1-2 day declines .. chart pattern also giving a buy..like my post today when appl was at 598.00 ..always buy the 1st decline off a major advance .. easy money

[Al_Dente]

Daily Elders. A little more into the Red for the world. The Low Elders are not are red as the High and Close Elders (Lower resistance is still on). Risk off Ratios (example XLY/XLP) = 3 of 4 still. Conditions still OK for more down. GLTA What, no comment from Dr. Al from yesterdays submits.

Dr X:
This would be a good place for SPY to stabilize, resting right on her daily uptrend channel line (blue arrow), where she closed with a doji, and right smack on top of her bolinger centerline, and at a 38% retracement of the June rally, plus the dollar is double topping and long bonds almost at double top… perfect time for a turn.
A break of the spy trendline would be disastrous for bulls, or a trap, or a crash-ette to probe for a double bottom at 131 sooner rather than later

ps: I saw yr yesterday’s notes much later, u are a nutjob !! And I mean that in the most positive nutty way !!
pps: oooooooo UNG
[edit: the charts show that we just carved out a "three push up" in the June rally. Q: how often do you see a FOURTH push up ]

[Al_Dente]

Dr X
Not only is our Offensive/Defensive (risk-on/risk-off) ratio a broken little bear, but note SPY (purple) divergence.
http://www.youtube.com/watch?v=co6WMzDOh1o

[xfradnex]

Dr X
Not only is our Offensive/Defensive (risk-on/risk-off) ratio a broken little bear, but note SPY (purple) divergence.
http://www.youtube.com/watch?v=co6WMzDOh1o

711defensive.png

You cannot see that magnitude change on my chart. Nice catch.

[xfradnex]

Daily Elders. A little more into the Red for the world. The Low Elders are not are red as the High and Close Elders (Lower resistance is still on). Risk off Ratios (example XLY/XLP) = 3 of 4 still. Conditions still OK for more down. GLTA What, no comment from Dr. Al from yesterdays submits.

Dr X:
This would be a good place for SPY to stabilize, resting right on her daily uptrend channel line (blue arrow), where she closed with a doji, and right smack on top of her bolinger centerline, and at a 38% retracement of the June rally, plus the dollar is double topping and long bonds almost at double top… perfect time for a turn.
A break of the spy trendline would be disastrous for bulls, or a trap, or a crash-ette to probe for a double bottom at 131 sooner rather than later

ps: I saw yr yesterday’s notes much later, u are a nutjob !! And I mean that in the most positive nutty way !!
pps: oooooooo UNG
[edit: the charts show that we just carved out a "three push up" in the June rally. Q: how often do you see a FOURTH push up ]

711daily.png

Yes the planets are in alignment. Volume spike not that strong while encountering the channel line. My Elder counts are steady, growing slightly more red. Sharp changes indicate a change(high red count), but not there now.

[SWalsh]

So who's doing this BS end of day ramp each day????

It's like every 2 or 3 months, they just pull that out of the play book and run with it. Then when the Muppets figure out that's the game again = they stop.
Great plan, works like a charm......... but WHO is doing it?

HTF? PPT? Ben? ECB? The moon's gravity on the Earth?

There are 16 Primary Bond Dealers. I do not know how many also have HFT operations. My best guess, and I think it's based on significant observation, is that the government is prohibited from entering the stock market - UNDER A LESSER LAW!

If you go to the National Security Act they can do whatever is necessary to perpetuate the continuance of government EVEN to the point of allowing critical firms to have two sets of books.

I think the PPT, a known entity that will have Wall Street commentators be a NLP viewer's dream as Art Cashin was asked once and his eyes darted all over denying it like the tip of a stun gun hit them, in coordination with the HFTs have run this mkt over 1000 and controlled it ever since.

What's the ending? Maybe like Devil's Island where three guys draw straws and the shortest one wins. He gets hit in the head with the shovel and dies (can't commit suicide before God), the one who did it gets hung (again not suicide), and the witness draws straws again hoping to not get the longest straw.

You wanted a worst case scenario, right?

[SWalsh]

Good Dark pool Article: http://www.minyanville.com/sectors/tech ... 2/id/42282.

Did you miss the two, or three, reviews I posted as I read and finished the book? They are much better than what he posted as I doubt he read the book with that posting.

I'll try to put the links up Thursday.

[SWalsh]

I did not believe this myself (as I have not dug into it a lot) but there is a guy over at Daneric's website - SoulJester or something. He is 10 out of 10 with this system of his called Red Line Something.

Please allow me to say something first: Systems don't make money, traders make money.

I think about 2 years ago that guy said he was quitting and blamed EW on wiping him out.

Daneric puts so much work into his counts that I guess that's what forces him occasionally to break some rules in his charts. He's a bear blog.

Avoid a guy named TheBullBear. I took a 30 day subscription and asked him what he was doing with his B waves that were 1/10th the time of wave A and wave C in a flat being 3.5 times the length of wave A. He told me I didn't know EW. Okay....good luck with that. That guy called for a massive collapse and missed a clear Ending Diagonal on 6/28, that I think I said here might be in progress. He gave back 50% of a profit. Someone sent me his note apologizing to the board for missing it.

Especially with computers from Dark Pools running the show, it is imperative to say two things with regard to an EW count, IMO:

1- I have no idea
2- This is what I think it is as of NOW.

That said, here's #2. What is not on the chart (I forgot) is that this could be wave 5 up and is an ending diagonal. That would mean a run towards the top of the triangle. But since if it is that it will be a failed 5th (lower than 1422) then it could well fail in that pattern too.