02/28/2013 Live Update

[TraderGirl]

Next week, my weekly chart points down ...lets see if it's correct...

Curious...why do you call this a weekly chart?

its a chart that provides info based on weekly data

[ClarkW]

Any EW'ers have thoughts on FXI hourly? Looks like a possible short opportunity very soon imo

NOT TRADING ADVICE

Hi Clark possible that right now is ending first leg of the retrace so I would wait rather for bigger retrace (trendline backtest?) But I am not sure as I have not enough data and these gaps can mess things up

FXI.png

THANKS KEIZAI AND TRADERGIRL FOR YOUR RESPONSE! Much appreciated!

[Cobra]

very small consolidation pattern, so still bullish biased.

[fehro]

SPX 15m minor divergence possible starting to show up

[fehro]

... possible channel if it turns down a tad higher... SPX 60m

[Al_Dente]

XIV still refuses to participate in this lovefest........divergence
nyadv >1900

[Cobra]

a little rising wedge, not sure if it means anything. wait and see.

[Cobra]

I think the real test is here. we're very close now.

[usctrojan99]

Right at the door step to Dow all-time highs. I am long until close. May buy SPXU at the close.

[KeiZai]

Squeeze is ready for PH now just to flip a coin which side to join bulls after potential 5w up? or weak bears?

I like bears more (shorted russell right now)

ES squeeze

[Cobra]

hmm, rising wedge worked. text book target met.

[TraderGirl]

... possible channel if it turns down a tad higher... SPX 60m

fehro, nice channel...I think it's significant....almost there...and wave count would support a touch if it were to head back up...

[StudentBill]

I think XIV might head down from here.

[TraderJoe]

Herbalife (NYSE: HLF) today announced that it has reached an agreement with Carl C. Icahn, Icahn Enterprises Holdings L.P. and certain related entities (collectively the “Icahn Parties”), which beneficially own, in the aggregate 14,015,151 shares of Herbalife common stock, representing approximately 13.6% of the Company’s outstanding shares. As part of the agreement, Herbalife will increase the size of its Board of Directors from nine to eleven members immediately before the 2013 Annual General Meeting of Shareholders (“the Annual Meeting”). Herbalife’s Board of Directors will nominate two individuals to the Company’s Board of Directors, designated by the Icahn Parties and approved by the Company’s Nominating and Corporate Governance Committee.

Under the terms of the agreement, the Icahn Parties have agreed to, among other things, abide by certain standstill provisions and vote their shares in support of all of the Board’s director nominees. The Icahn Parties have the right to increase the size of their ownership position in Herbalife up to 25% of the outstanding common stock. A copy of the agreement with further detail will be attached to a Current Report on Form 8-K to be filed by Herbalife with the Securities and Exchange Commission.

I would guess Ackman is in trouble on this one

[fehro]

couple of interesting P&F 60m charts for XIV - UVXY. fwiw.

[skittlesmds]

Dollar seems fairly strong today.

[deeko]

let's hear it for the bears! I love it when the bears attack.

[Nrsimha]

hmm, rising wedge worked. text book target met.

Good call !!!

[deeko]

we still need to close the gap on the SPX from 1:20, so I suspect we head to 1520.5

[Nrsimha]

... possible channel if it turns down a tad higher... SPX 60m

fehro, nice channel...I think it's significant....almost there...and wave count would support a touch if it were to head back up...

Nice chart.

So my strategy is now to wait for this last return to today's HOD and then buy UVXY.