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07/12/2012 Live Update

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Cobra
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07/12/2012 Live Update

Post by Cobra »

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Gap down alone yesterday's low so not sure if the gap will be filled.

On Global ES, the overnight push down made an overshot so rebounded, I see lots of overlaps on this leg down starting from 07/10, so I still don't FEEL much down pressure here. A sharp down today would change my mind though as the key still is overlap. Sharp down today would eliminate overlap therefore the 07/10 till now area could be seen as a consolidation (therefore continuation pattern).
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Harapa
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Re: 07/12/2012 Live Update

Post by Harapa »

With deterioration in AUD currency swaps overnight, my model based on this system now favor short side of the market. Long trade taken yesterday will be liquidated at open with a loss :cry: .
Above is provided for informational purposes only and shouldn't be considered an investment advice or recommendation to buy or sell anything.
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Harapa
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Re: 07/12/2012 Live Update

Post by Harapa »

This doesn’t bode well with an IT-LT bullish scenario.
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gappy
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Re: 07/12/2012 Live Update

Post by gappy »

Axmn7OoCEAAUCrm.gif
Troublesome too for now.
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Re: 07/12/2012 Live Update

Post by TradingJackal »

1318 and 1305 are 50% and 61.8% targets on ES. There should be a lot of stops under 1333SPX so we will dunk underneath for sure. Hold'em/Fold'em day today.
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Cobra
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Re: 07/12/2012 Live Update

Post by Cobra »

the open.
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Mr. BachNut
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Re: 07/12/2012 Live Update

Post by Mr. BachNut »

Market Neutral.
Yesterday's closing rally kept my signals out of sell mode (one went to sell but only by an easily reversible tick).
Judging by the overnight action, the signals may come with today's close barring another rally.
I'll honor the signal with a short layer even though I will be anticipating some rally into next weeks OPEX.
fehro
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Re: 07/12/2012 Live Update

Post by fehro »

green channel... may pause on support
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ballatines
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Re: 07/12/2012 Live Update

Post by ballatines »

seems no one want to sell AAPL :geek:
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Mr. BachNut
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Re: 07/12/2012 Live Update

Post by Mr. BachNut »

Hey Miyagi,

Didn't you have a P-bar of SPY 132.88 a few days ago? I had written it off as a P-Bar failure but we're in the right neighborhood now.
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Petsamo
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Re: 07/12/2012 Live Update

Post by Petsamo »

My WLT is calling me to press the sell button
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Re: 07/12/2012 Live Update

Post by stockcycle »

I expect to see the lower line of the Rising Wedge broken down today and an accelerated fall to follow
When I watched more closely into the 15min chart, I found that the price evolution from 1374.81 to 1346.65 can be counted as a 5-wave impulsive pattern which finished impulsive wave (1). After 1346.65, I see a clear a-b-c corrective to form wave (2). This slightly changes from my chart posted yesterday.
As noted in the chart today, we may be in the wave iii within wave (3). The important thing to remember is "three" within/of/inside "three" is the most sorrowful/excited stage of market action.
If wave iii is the case (I need to see a lower-low than 1333.25 and a red-day today), I expect it to end at around 1303.xx meanwhile the mother wave (3) would end at around 1287.xx.

SPX daily indicators
3/4 indicators confirmed a down trend began. MACD needs a red day today to confirm. After MACD bearish crossover happens, we may be staying in bear market for months.
Visitors my like to have a look at the tab "SPX Medium Term" of my blog.
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Re: 07/12/2012 Live Update

Post by TradingJackal »

stockcycle wrote: we may be in the wave iii within wave (3).
I would have expected a bigger gap if we were in 3 of 3.
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TraderGirl
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Re: 07/12/2012 Live Update

Post by TraderGirl »

I mentioned last night that I thought we would be down today, but I didn't think we would open lower.....
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Cobra
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Re: 07/12/2012 Live Update

Post by Cobra »

finally closed that big gap.
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jdow
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Re: 07/12/2012 Live Update

Post by jdow »

me too, took my loss on QQQ
TraderGirl wrote:I mentioned last night that I thought we would be down today, but I didn't think we would open lower.....
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Mr. BachNut
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Re: 07/12/2012 Live Update

Post by Mr. BachNut »

The Gap up in the SPY on June 29 has been officially closed.
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TraderJoe
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Re: 07/12/2012 Live Update

Post by TraderJoe »

TraderGirl wrote:I mentioned last night that I thought we would be down today, but I didn't think we would open lower.....

TG, it sure looks like a Bear Flag on your chart???
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Re: 07/12/2012 Live Update

Post by TraderGirl »

TNA finally fell through gap support...
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fehro
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Re: 07/12/2012 Live Update

Post by fehro »

lower targets/possible trendlines (dotted red) or the 200 day SMA = 1306ish?
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