06/13/2013 Live Update

[joegamma]

well, I'll be darned, Cobra posts his update and targets 166+, and we take out prior high.....

[wayne0708]

For me when viewing charts, one of the difficult things is to determine whether a leg up or down is corrective or impulsive. However, I see that some here can label those so quickly.
Are there tricks or techniques that I am missing here. Btw. I have not taken the effort to see if any of those assumptions were correct after the pattern played out.

[joegamma]

nice shortsqueez in tlt, time to close some calls S/T

[Cobra]

well, guess that's it for today. need dig a little before calling tomorrow. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/chartbook

[tomsky]

For me when viewing charts, one of the difficult things is to determine whether a leg up or down is corrective or impulsive. However, I see that some here can label those so quickly.
Are there tricks or techniques that I am missing here. Btw. I have not taken the effort to see if any of those assumptions were correct after the pattern played out.

Well, you should try to not complicate things. Corrective it's when waves overlaps (let's say what should be wave 4 goes below wave 1) and when the slope of the trend it's not so steep (but this is subjective). Also, when it's difficult to count the waves ussually it's corrective or something complicated and you should not bother to identify and trade it.

[MrMiyagi]

NYADV almost at extreme, could be signaling reversal. NYMO should finish neutral.

[SERVO]

NYADV almost at extreme, could be signaling reversal. NYMO should finish neutral.

$NYMO is at -52, still room to run

[wayne0708]

For me when viewing charts, one of the difficult things is to determine whether a leg up or down is corrective or impulsive. However, I see that some here can label those so quickly.
Are there tricks or techniques that I am missing here. Btw. I have not taken the effort to see if any of those assumptions were correct after the pattern played out.

Well, you should try to not complicate things. Corrective it's when waves overlaps (let's say what should be wave 4 goes below wave 1) and when the slope of the trend it's not so steep (but this is subjective). Also, when it's difficult to count the waves ussually it's corrective or something complicated and you should not bother to identify and trade it.

Well thanks for your explanation. So how would you label today wave from 161.3 low. some says corrective after first half hr of trading. Some thought today was range...

[joegamma]

NYADV almost at extreme, could be signaling reversal. NYMO should finish neutral.

nice to see nymo goto zero......IWM outside day UP moderate volume, vix ALMOST outside day down...Thanks for the P-bars!

[MrMiyagi]

nice to see nymo goto zero......IWM outside day UP moderate volume, vix ALMOST outside day down...Thanks for the P-bars!

You're welcome joegamma!

$NYMO is at -52, still room to run

Should be around -50 area, but that is my point, it is neutral in the signal, only NYADV is signaling a reversal at 2600+ which is extreme.

[joegamma]

nice to see nymo goto zero......IWM outside day UP moderate volume, vix ALMOST outside day down...Thanks for the P-bars!

You're welcome joegamma!

$NYMO is at -52, still room to run

Should be around -50 area, but that is my point, it is neutral in the signal, only NYADV is signaling a reversal at 2600+ which is extreme.

END of aBULL Market=revrsal of reversal of reversal of reversals.......

[joegamma]

This bear market might be over when VIEWS and REPLIES start trending back up....FWIW

GLTA boardies and thanks for the info and ideas!


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Newcomer? Please visit Getting Started First.
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06/13/2013 Live Update
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[BigChief]

Did Trades just go for a sell on the SPY for over 2million shares at the Pbar target of 161.8 after hours?

[TWT]

$EURUSD: negative divergences and overbought readings should allow an inevitable pullback