09/12/2012 Live Update

[Cobra]

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Gap up within yesterday's high, so the gap might be filled.

The Global ES may look like an Ascending Triangle, at least it's been trying the resistance 4 times, therefore if it can make another try, the resistance would be taken. So the chart pattern doesn't look bad.

[Cobra]

DAX. This bull has legs.

[Tutti]

Saw this during my early reads and thought it was fitting. Nothing changes. Ever.

Good trading

[KeiZai]

GM folks,

ES, have a little room to go 1365?

Watching crude oil, breakout or fakeout?

USD/CAD descending triangle target have been met, now it looks like double bottom...backtest of the triangle? (usually bearish equities)

[Out of Bounds]

Good morning all. Got trapped yesterday with an all too large position in Ford. I put in a GTC-EXT order with a nice profit and got it taken out this morning at 8:12am and 8:38am. Nail biter over. Stupid to let myself get so overconfident that I risked so much. It's a lesson I have a hard time learning. Lucky. So, what's next? Who's trading what?

[nasta]

Gm all,
Expecting some resistance here in DAX

[joe-gamma]

Good morning: intermediate term momentum not crossed bullish but good divergence on 10hr bars in futures, here is Naz 100...

naz912.png (10.38 KiB) Viewed 4823 times

Seems that translation of "unlimited" from German cardinals has ES focus on only 190 bln euro....good news but tempered upside?

[joe-gamma]

oops here is 6hr ES futures bars, GL

es 6hr-912.png (9.81 KiB) Viewed 4790 times

[Cobra]

the open.

[Petsamo]

Sold AMD for a 9.9% profit. What do I buy now

[TradingJackal]

Picture of an ending diagonal is clear in the futures. As shown by Cobra's chart this morning, a higher high 1440+ today will complete the ED in ES.

[Out of Bounds]

Sold AMD for a 9.9% profit. What do I buy now

Banks.

[Cobra]

ascending triangle target at $145.33.

[Petsamo]

Sold AMD for a 9.9% profit. What do I buy now

Banks.

Overbought
Not my style

[uempel]

Red ellipse resistance at 1439

[Out of Bounds]

Already scalped WFC (lagging BAC) and back to cash. Don't hold WFC, its weak within its own sector.

[KeiZai]

Chop-chop till tomorrow?

[TradingJackal]

1. We are in the overbought range of the stoch on daily, weekly and monthly.
2. With divergence on daily and monthly to boot.
3. In EWT terms, we have completed a structure with good overall fib ratios.

We could stretch a bit more (that would be a good top) by about 20-30 points without breaking the bearish setup (88.6 fib retrace of the crash of 2007-9)

[uempel]

Long term Fibs suggest a close look at SPX 1443

[KeiZai]

Russell with 4h squeeze, pivot break and yellow line is trigger IMO (probably only tomorrow)