08/10/2012 Live Update

[Cobra]

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Small gap down but below yesterday's low, so not sure if the gap will be filled or not.

Again, for Global ES, as long as it doesn't drop below the blue line, it should be fine.

All the recent Fridays were huge huge up, let's see if this Friday would do so again... I doubt, judging by the opening...

[Tutti]

G/M Cobra and all...

Charles Kirk put this out this AM and I thought it was a worthy note to pay attention to & share. 4 Day Avg vol lowest since Oct 2007

[TradingJackal]

We had a ABC down yesterday on ES (check yesterday's post) and so we are looking for an ABC up today. Looking at the ES chart, it appears we may be putting finishing touches to an ED. Looks like we need one last hurrah before we go south.
PS: This last wave get's truncated most of the times and once it in a while, it will overshoot. YMMV.

[Harapa]

Dr. Al,
For further research.
Adding VXN to matrix doesn't hep or does it?

[EFA]

[quote="Tutti"]G/M Cobra and all...

Charles Kirk put this out this AM and I thought it was a worthy note to pay attention to & share. 4 Day Avg vol lowest since Oct 2007

Thanks for the chart! Very interesting indeed. I wonder if we should expect to see in the next several months what happened in the spring of 2008....

[Al_Dente]

"""...worse-than-expected Chinese trade data put investors into a risk-averse mood across the board, threatening the longest winning streak for the Standard & Poor's 500 index since March."""

[Nrsimha]

"""...worse-than-expected Chinese trade data put investors into a risk-averse mood across the board, threatening the longest winning streak for the Standard & Poor's 500 index since March."""

Not to mention the fact that Obozo called up CME and told them to raise their margin requirements on crude because he don't want gasoline prices going up befo' the election.

[Cobra]

the open.

[SigmaEcho]

100% time extension?
march top > june low =
june low > august 12.

[Nrsimha]

I have been in the market long enough to know that if there is a summer (doldrum) melt-up on low volume, "da big boys" don't like that and will knock prices down before end of September so that hedge funds, big money, etc., can buy at the lower prices. Happens every time. You can bank on it.

[Al_Dente]

“……..central banks are far from running out of firepower………”
http://finance.yahoo.com/news/analysis- ... 1.html?l=1

“[Reporter asked a Bank of England Governor:] Wasn't it time… to try something more radical than 'quantitative easing'? How about directly financing government deficits? How about cancelling the bonds the BOE has bought to create room for tax cuts? How about bypassing the banks and handing out newly printed central bank money to the public - the late U.S. monetarist economist Milton Friedman's famous ‘helicopter drop'?...”

[Petsamo]

The relative strength of SAN suggests this "sell off" is half-baked

[Al_Dente]

Dr. Al,...For further research....Adding VXN to matrix doesn't hep or does it?

Yes, I think it helps……..still testing….
It’s very hard 4 me to read yr charts
Have to work on it more (including yesterdays stuff) later
I put QQQ and SPY in yest
One thing I noticed yest, when all “agreed”, VIX actually made a lower high (big red circle) so I counted that as “NOT AGREE”
Sorry my chart is 2 messy
More later
THANK YOU GL2u

[EvilTrader]

How long will it last ?

[TraderGirl]

100% time extension?
march top > june low =
june low > august 12.

Aug 12 equals low?

[Cobra]

bouncing from support. if for the 3rd day in a row we have a reversal up on the morning gap down, this market might never drop anymore.

[EvilTrader]

139.60 monday's low is very likely today.

Going to short if 139.90 broken.

[SigmaEcho]

100% time extension?
march top > june low =
june low > august 12.

Aug 12 equals low?

can go both ways?

the master calling for (little) top...

[TraderGirl]

I have been in the market long enough to know that if there is a summer (doldrum) melt-up on low volume, "da big boys" don't like that and will knock prices down before end of September so that hedge funds, big money, etc., can buy at the lower prices. Happens every time. You can bank on it.

Im with you....

[rc1269]

100% time extension?
march top > june low =
june low > august 12.

Aug 12 equals low?

Not sure if you were joking or not, but pretty sure SigmaEcho means August 2012 will be a projected top (8/3/12 to be exact is the 100% time extension i believe)