10/10/2012 Live Update

[TraderGirl]

We could be seeing a low on the 15th, so bounce or no bounce, I think we have another low coming...

[Cobra]

I know H&S top need a prior uptrend, so it's not textbook H&S Top, but you get the point.

[Harapa]

Buyers Beware:
If VIXies close at this price we will have a buy signal from this setup for a buy at next bar open (tomorrow's open).

[Cobra]

Cobra does this meet the Trading Markets condition of buying the 7 day low if it closes right here?

check members only update, it reminds you if the conditions are met.

[Out of Bounds]

We could be seeing a low on the 15th, so bounce or no bounce, I think we have another low coming...

Agreed.

[Cobra]

well, I just hope it won't breakdown before the close. the pattern really looks like a breakdown soon.

[Cobra]

oops, breaking, no good.

[Petsamo]

They might gap this up again tomorrow. The Hang Seng rallied last night for some reason

[Cobra]

well, guess that's it for today. SPX down 4 days in a row may mean rebound soon but normally, this bear has legs, we're still on the 1st leg down. thank you guys, I'll see you tomorrow.

[TraderGirl]

UVXY setting up a potential bear flag..

[TraderGirl]

Both VIX and SPX in red today.....usually indicates a turn...

[Me XMan]

Loaded up for the bounce into the weekends.

Both VIX and SPX in red today.....usually indicates a turn...

[TWT]

SPX: The idea of an extended wave (3) is ok

[TWT]

VXX: Why it does not takeoff ? Maybe it is unfolding an ED

[KeiZai]

Hi guys here is my simple russell chart : (should bounce from that level but also back to 50fib cannot be ruled out with possible bear trap)

I love these days when market is so clear


EDIT: and very possible SPX scenario (I think we are still in the 3rd leg with 4th=bounce and 5th down to come )

possible double top have been confirmed by breaking the lows

[KeiZai]

OK I closed some of my trades cause there is chance we are close or already finished this down move


Euro doesn´t look good but triangle is still in play (now right on 200MA)

SPX (channel support, 50MA, RSI-spx like to bounce/continue after hitting 45)

[Bears go Rarrrrr]

Cobra,

First, I want to thank you and all the members here for a great board.
I have been reading the board and learning for some time now, thought I’d start to contribute.
I mainly watch AAPL and SPY.

All,
Here is my first chart- I see a IHS form on AAPL hourly- what do you think? Can you please help me with coming up with a target? (I think it is somewhere in the 655 area, not sure).

supes

My first post here too lol. I have posted in other online trading forums and generally get lambasted for discussing technicals, so I'm happy to have joined this one.

I have the same view of Apple. That is a short term inverse h&s , I like it to bounce up to 652-654 before the downtrend continues. This would simply be a retest of the neckline on the larger H&S topping pattern it set up between late August and early October. I'll be watching the 15 min chart to time a shorting opportunity.
QQQ is possibly setting up a similar pattern, but seems to be lagging behind AAPL. QID has made me a nice profit the last few days, but I guess any major index ETF would have done the same.

[Cobra]

Cobra,

First, I want to thank you and all the members here for a great board.
I have been reading the board and learning for some time now, thought I’d start to contribute.
I mainly watch AAPL and SPY.

All,
Here is my first chart- I see a IHS form on AAPL hourly- what do you think? Can you please help me with coming up with a target? (I think it is somewhere in the 655 area, not sure).

supes

My first post here too lol. I have posted in other online trading forums and generally get lambasted for discussing technicals, so I'm happy to have joined this one.

I have the same view of Apple. That is a short term inverse h&s , I like it to bounce up to 652-654 before the downtrend continues. This would simply be a retest of the neckline on the larger H&S topping pattern it set up between late August and early October. I'll be watching the 15 min chart to time a shorting opportunity.
QQQ is possibly setting up a similar pattern, but seems to be lagging behind AAPL. QID has made me a nice profit the last few days, but I guess any major index ETF would have done the same.

Thanks and welcome aboard!

[Cobra]

Cobra,

First, I want to thank you and all the members here for a great board.
I have been reading the board and learning for some time now, thought I’d start to contribute.
I mainly watch AAPL and SPY.

All,
Here is my first chart- I see a IHS form on AAPL hourly- what do you think? Can you please help me with coming up with a target? (I think it is somewhere in the 655 area, not sure).

supes

My first post here too lol. I have posted in other online trading forums and generally get lambasted for discussing technicals, so I'm happy to have joined this one.

I have the same view of Apple. That is a short term inverse h&s , I like it to bounce up to 652-654 before the downtrend continues. This would simply be a retest of the neckline on the larger H&S topping pattern it set up between late August and early October. I'll be watching the 15 min chart to time a shorting opportunity.
QQQ is possibly setting up a similar pattern, but seems to be lagging behind AAPL. QID has made me a nice profit the last few days, but I guess any major index ETF would have done the same.

Thanks and welcome aboard!