12/04/2012 Live Update

[MrMiyagi]

Are you aware of any outstanding P-bars to the downside that occurred from the November low until now that were never hit and arguably remain outstanding?

I don't remember any others further back, I am sure there are some unresolved ones.

[Al_Dente]

In a bull run the tick should stay above the upward-sloping bolinger centerline
In a bear run the tick should stay BELOW the downward-sloping bb centerline
So at the moment, intraday, selling is “with the trend” until the tick moves convincingly above bb centerline
[testing]

[Cobra]

well, like I said, a strong downtrend day when every sharp rebound got sold off. Now hopefully we have 3 push down here therefore due for a rebound. not sure, wait.

[KeiZai]

Will likely jump to dollar bulls in a while, sorry euro

[Denali92]

Three quick things:

1) On your three Push approach - if you look at the RUT, particularly the futures TFZ2, we have a good example of your three push up approach and now we are in Push 2 down towards some target below- that you are probably better at identifying than me.

2) Agree that it is a hard day to trade.... it does seem like it is a trend day down, but in VERY small increments - we have yet to have a 10 minute oversold period all day so far, which is very rare for a market that feels like it has been sliding since near the open

3) The MID traded above 1000 - the E-Mid got to 1007.6 - EVERY visit of the MID to the millenial mark EXCEPT for ONE (the SEP 2012 BLAST OFF) has seen pullbacks to between 989 and 956 (or something like that) so at a minimum we have a few more points left, but I would not be surprised if the e-mid does not go test 980 before we get a strong bounce.

THANKS for EVERYTHING!

-D

well, like I said, a strong downtrend day when every sharp rebound got sold off. Now hopefully we have 3 push down here therefore due for a rebound. not sure, wait.

[wayne0708]

Next Support!

[toddymc]

SPX/VIX ratio very close to a rising trendline off 11/16 lows..
Interesting since we haven't sold off that hard

[BullBear52x]

XIV support area, looking at 17ish for the other half lot

[Al_Dente]

Squeeze up to test vwap should fail, but nydec is only 1600, nyadv is only 1200
Chop
No one knows how much bears want to cover here, so just in case

[BullBear52x]

my Fib number, I want 140.39

[uempel]

Too boring for me to stay awake, I'm off...

[Harapa]

For this market to advance, you need these ratios to stay above the zero line. These are pretty weak and declining at the moment. Also notice the similarities between now and Jul 2011.

[Cobra]

3 push down so in theory should be 2 legged rebound. hopefully this time can fulfill the mini rebound target.

[Petsamo]

Dangit I missed out on buying GDX. Had I bought it, it woulda tumbled

[Al_Dente]

For this market to advance, you need these ratios to stay above the zero line. These are pretty weak and declining at the moment. Also notice the similarities between now and Jul 2011.

[skittlesmds]

Hey All,

I had to take my corgis to the vet for their yearly shots / exam. Cost me almost $500 including medicines (heartworm preventative / flea preventative). Haven't posted anything today because to me the chart looks like a ship riding a choppy sea. I made 3 contract long trade last night into this morning and 2 contract short trade after 9 am CST. Made enough to cover the vet bills and a little left over. Don't think I'm going to trade any more at least for today.

[Mr. BachNut]

Are you aware of any outstanding P-bars to the downside that occurred from the November low until now that were never hit and arguably remain outstanding?

I don't remember any others further back, I am sure there are some unresolved ones.

Interesting. Those are starting to look achievable.

Many thanks!

[Al_Dente]

I’m guessing there are plenty of short stops at 141.31 and above… guessing
If SPY takes them out…..this could turn into one of Snake’s 100% statistics….


PAGE HARAPA
http://www.youtube.com/watch?v=nbrTOcUnjNY

[Cobra]

so far so good, looks like it is 2 legged rebound at least. still on the 1st leg up.

[Cobra]

mini rebound target met.