08/13/2012 Live Update

[nightlyhawk]

McClellan Oscillator also deteriorated (was negative most of the day). So, while price action closed almost flat and within the trading range of the last several days, there was some decay under the surface.

IMO, McClellan Oscillator indicator alone works somewhat reliable on bull side while sitting at an OS level and displaying positive divergence. Otherwise, I NEVER use it to find a ST/MT trend reversal while market approaching a top. You will lose out lot of profits while market is on an uptrend because it tends display negative divergences. That said, if you know how to combine $NYMO with another indication, it gives over 90% of a profitable trade to catch a market ST/MT bottom. Again, it works well only to catch a bottom.

[Petsamo]

SPY daily looks just like the DAX daily, a bull flag

EWG says bull or bear flag..take your pick...

If the flag is at the top, then it's a bull flag

[Petsamo]

I don't know how one can be bearish in this environment. I am still bullish to 1420, but

If Obama gets re-elected then taxes will kick into high gear with Obamacare. Europe is collapsing long-term. Earnings expectations were lowered.

There's only one bull case: regime change with Romney & Ryan.

[Xian]

I don't know how one can be bearish in this environment. I am still bullish to 1420, but

If Obama gets re-elected then taxes will kick into high gear with Obamacare. Europe is collapsing long-term. Earnings expectations were lowered.

There's only one bull case: regime change with Romney & Ryan.

Please shut up.

[MrMiyagi]

GRPN bad report. Down 16%.

[KeiZai]

Good decision to short XIV? I think the answer is yes

Time will tell

[KeiZai]

SPY daily looks just like the DAX daily, a bull flag

EWG says bull or bear flag..take your pick...

Good point TG, I highlighted areas where everyone thought that we are in bull flag DAX
note: I am not saying it is or it isn´t a flag as TG said take your pick

[Al_Dente]

PAGING TJ
please do
thanks

[Petsamo]

I don't know how one can be bearish in this environment. I am still bullish to 1420, but

If Obama gets re-elected then taxes will kick into high gear with Obamacare. Europe is collapsing long-term. Earnings expectations were lowered.

There's only one bull case: regime change with Romney & Ryan.

Please shut up.

Since you said please, I'll shut up. Tomorrow's another day, though. So, see you tomorrow.

[rc1269]

I don't know how one can be bearish in this environment. I am still bullish to 1420, but

If Obama gets re-elected then taxes will kick into high gear with Obamacare. Europe is collapsing long-term. Earnings expectations were lowered.

There's only one bull case: regime change with Romney & Ryan.

Please shut up.

That seems a little unecessary. You might disagree with his political affiliation, but all of the items he mentions before that happen to be fact. And most large institutional investors actually agree with his conclusion, so I'd be prepared for that in the event you get your way and Obama is re-elected. I'm not stating any personal preferences here; those are just facts. cheers-

[TradingJackal]

We had a 88.6% retrace of the morning dip in ES. Short at 1402.25. Die...die...die...

[TradingJackal]

Mr. Hyde is making a prediction right here. We crap here, right now. Something is going to come up (maybe asia/europe, wherever). The market turns red for the next few days. There - you heard it.

[TradingJackal]

We have to fall from a high. Without volume, this puppy will keep rising till it tickles the bottom of a shelf of 'sell' orders. So, here is a stab at some calculations keeping Wolfe wave ratios in mind. Fits both ED and Wolfe wave down (to follow). The blue C is 3 of the Wolfe wave and is exact 127% fib of blue A (1 of Wolfe). In a good ED, the relationship between B and D waves is 61.8 fib. So, D will be a quite short with a final burst towards the heights in wave E. The 127% fib of E (wave 5 in wolfe) is 1409 based on D(wave 4 in Wolfe). The 161.8 projection of the final wave takes us to 1412 or so.