02/22/2013 Live Update

[uempel]

AD: SPY PnF Target still 162 despite two-day correction:

Targets on the P&Fs are generated automatically and hardly ever come true. P&Fs are great for support and resistance...

Thanks !
P&F......but doesn’t that open a can-of-worms about the BPs that we rarely discuss?
that P&F = BP can be off?
Or no?

No, no. If P&F breaks above resistance it's on a buy signal. The stock, index or whatever remains on a buy signal until it breaks below support. Why a can of worms? It's about support & resistance, not about anything else. BPs are the summation of BP buy signals

[wayne0708]

Let's see if rebounce reaches target

[gappy]

file.png

http://www.youtube.com/watch?v=F7x_vWNRS5c

[KENA]

This mkt just might go to test that P bar 2/3 days ago up to 152.47..Looks like yes. P bar of 151.42 is on the table right now. So lets see.

[TWT]

$DAX: Today´s Harami is suggesting that the bounce is not over.

[L_T]

file.png

http://www.youtube.com/watch?v=F7x_vWNRS5c

Nice I like heat maps. Notice the strength in utilities.

[Al_Dente]

5 min
Even aapl is trying to cooperate with this bounce (lower panel, neon green)

[jademann]

Here are the kind of pullbacks we have had in the past, so I am assuming we get it again...A then B, then 5 waves down for C...but sometimes it's not so easy to see until after the waves have developed.

I knew we would probably not see a lower low after Nov 16th because I could count 5 waves down for "C".. many were expecting another low as we had back in June '12...I was not...

One of the EW attributes is that when wave 2 is simple there will usually be a more complicated wave structure for wave 4, and vice versa..you can see the difference...

My charts don't indicate a long drawn out correction, but you never know...sentiment changes on a dime....my long term chart indicated we would see resistance at 14,000 and we could not stay above...now it shows we 500-700 pt pullback...but sometimes price on my chart is not totally accurate...but we will see...

TG I looked at your chart and thought that the recent SPY highs need to be tested once at least.
However we have the approaching sequestration so I am unclear where we go.
Also Bullbears chart sides with the bears. So very uncertain now, anyone here less so?

[TWT]

$SPX: overlapping since today´s hod means consolidation hence odds favour more upside

[Al_Dente]

AD: SPY PnF Target still 162 despite two-day correction:

Targets on the P&Fs are generated automatically and hardly ever come true. P&Fs are great for support and resistance...

Thanks ! P&F......but doesn’t that open a can-of-worms about the BPs that we rarely discuss? that P&F = BP can be off? Or no?

No, no. If P&F breaks above resistance it's on a buy signal. The stock, index or whatever remains on a buy signal until it breaks below support. Why a can of worms? It's about support & resistance, not about anything else. BPs are the summation of BP buy signals

ok boss got it thanks

[KENA]

VIX is slowly moving dn..Anything VIX 1550 and under will favor bulls.

[gappy]

file.png

http://www.youtube.com/watch?v=F7x_vWNRS5c

Nice I like heat maps. Notice the strength in utilities.

Thanks, that intraday off Fideity.

[KENA]

VIX is slowly moving dn..Anything VIX 1550 and under will favor bulls.

[TraderGirl]

Here are the kind of pullbacks we have had in the past, so I am assuming we get it again...A then B, then 5 waves down for C...but sometimes it's not so easy to see until after the waves have developed.

I knew we would probably not see a lower low after Nov 16th because I could count 5 waves down for "C".. many were expecting another low as we had back in June '12...I was not...

One of the EW attributes is that when wave 2 is simple there will usually be a more complicated wave structure for wave 4, and vice versa..you can see the difference...

My charts don't indicate a long drawn out correction, but you never know...sentiment changes on a dime....my long term chart indicated we would see resistance at 14,000 and we could not stay above...now it shows we 500-700 pt pullback...but sometimes price on my chart is not totally accurate...but we will see...

TG I looked at your chart and thought that the recent SPY highs need to be tested once at least.
However we have the approaching sequestration so I am unclear where we go.
Also Bullbears chart sides with the bears. So very uncertain now, anyone here less so?

My weekly chart indicates more down next week, and my cycle chart indicated a turn on some kind on the 27th...so I am looking for a possible low of some kind on the 26th/27th...my long term chart has been accurate for the past 2 years and it said we see resistance at 14,000...every time we closed above, the next day we came down...now it says 500-700 pt pullback..so I will trust this chart until it doesn't work, and for 2 years it has worked...so I am in Bullbear's camp....

[kenttown]

I am looking for a possible low of some kind on the 26th/27th

Bernanke is at Congress those dates.

[Cobra]

indeed more up, red line is the initial target and it's just the 1st leg up, should be more.

[Al_Dente]

SOXL has been leading all day
Gapped up, dipped, now wants to test highs too


Gap up: who is Gary Burr? http://www.youtube.com/watch?v=bHV3I5Q2MX0

[uempel]

I'd sure love to short the 1520ish area. An intraday bounce up to that level, a decline into the close - my dream scenario

[Cobra]

it's range day, so guess negative divergence will work, plus very small 3 push up, so might see a small pullback here?

[KeiZai]

Clark here is ST coffee what I think it's going on there, will post some charts in WW

break above 150 would likely negate the last leg down

The attachment Coff2.png is no longer available

Awesome, KeiZai! Thanks!

U are welcome buddy panda's got your back