07/25/2012 Live Update

[Nrsimha]

trend line support. I won't count on it though. now the Fib 61.8% MM target cannot even make a higher high, no good.

Trendline held.

Bullish hopes anyone ?

I am a lil biased to the upside.

I am holding both 2X spx and inverse spx. IMO we are on the cusp of something (draw a horizontal line on the daily). Above us is a region where prices have been frequently during the last few days and below us is a region where prices have been a few weeks ago. My evil plan is to profit from the melt-up before the FOMC meeting and then profit from the usual disappointment. I think this will work because I doubt that the Fed would ease during the middle of the summer with such low voume --- Ben would want to be sure his cronies were all in the market when he spikes it up. I think they will wait til Sept/Oct. ... But what do i know?

[Anaconda]

Possible count??

Looks like we share same count, TG. (I've followed your comments and charting, with admiration; keep up the value-added, please.)
Thanks,
A

[Al_Dente]

Thanks Cobra and everyone, GLTA
TA Note: wait to see what MO got to say after market, no positive turning on MO me no Buy.

bb could u post yr “Rock Paper Scissors” chart b4 u go thx

sell to continue, I got my blog up date, will talk more on MO after few beers.

THANKS B
so it needs to be at least 2 out of 3 to get the green (?)

[Nrsimha]

Possible count??

That would be good. Upside target at 1350. Dump at 1350 and then ride the slide down from C.
??

Edit: meant to say 1350.

Also, this would be in line with the "Three Black Crows" hypothesis.

[TradingJackal]

Divergence on 5hr ES. Should be good for a move to 50% retrace at 1350 where the upper bollinger also meets.

[coralla]

cobra,
thought the Hindenburg Omen Criteria triggered today again？ But how about the weekly 10MA? Is it rising of flat?

[xfradnex]

cobra,
thought the Hindenburg Omen Criteria triggered today again？ But how about the weekly 10MA? Is it rising of flat?

This guy says yes http://blogs.stockcharts.com/dont_ignor ... l-nya.html. But others are saying no.http://www.thedisciplinedinvestor.com/b ... ification/. The second should be more credible.

[ClarkW]

Wish I would have seen the following CRB Weekly chart before buying more NUGT this morning

Looks like we might have some strong resistance above us with two fib levels off important high/lows.

[xfradnex]

Daily Elders. 15 reds 3 days in a row for world market. No lower reading over 3 days in a year. Closest was starting on 8-2-11, but after a period of lower reds. Volume still moving down. Even though all other indicators on presented on board look like the SPY will bounce, I don't think it will hold. However, it looks like Euro Indexes are in the CCI bounce area, showing some positive up today.