10/11/2013 Live Update

[uempel]

The small new channel (in red) is kind of steeeeep ...

[Al_Dente]

The small new channel (in red) is kind of steeeeep ...

HI UEMPEL
Here’s what stockcharts said when I asked them about the Bullish Percent wacky chart like $BPNYA:
“We've started updating our BPI data during the trading day, so Candlestick is now an option with BPI charts. To see end-of-day only charts, select one of the Close-only chart types, like Line”

[uempel]

The attachment indu101113.png is no longer available

Here is the weekly chart i've been following.... pretty much shows the same thing

DOW daily.. possible H&S.. but much higher.. then just a trading range from the neckline to the highs..

Smith, you sure like that H&S formation Here's a H&S on the Isle of Skye, they call it the Old Man of Storr...

[Al_Dente]

TRIN is bearish this morn

[seemore]

Don't know if anyone is short NUGT since yesterday, but if so, may be time to either take profits, or put in a good stop. AB-CD 161.8% target reached at 38.15. $44.63-$40.83 drop vs. plateau of $44.30 last time. Of course, it could keep dropping. I'm out.

[smith]

I don't have the stomach for day trading so the longer views in the indexes seem to be safer bets for me. I like to look at the whole forest not just a tree. Great picture, where is that Ireland/Scotland area?

btw how often does your ellipse charts hit on a "big move"? I don't fully understand if its like a trend line and you try to touch as many peaks and valleys as possible or how it actually works.

indu101113.png

Here is the weekly chart i've been following.... pretty much shows the same thing

DOW daily.. possible H&S.. but much higher.. then just a trading range from the neckline to the highs..

Smith, you sure like that H&S formation Here's a H&S on the Isle of Skye, they call it the Old Man of Storr...

IMG_5170.jpg

[fehro]

indu101113.png

Here is the weekly chart i've been following.... pretty much shows the same thing

DOW daily.. possible H&S.. but much higher.. then just a trading range from the neckline to the highs..

Smith, you sure like that H&S formation Here's a H&S on the Isle of Skye, they call it the Old Man of Storr...

IMG_5170.jpg

hahaha... yes.. more so when they play out!

[Cobra]

well, just fib 61.8% mm, so bulls are losing momentum but not over yet. may still have another test of high, well, hopefully.

[Cobra]

this chart should explain why pullback.

[uempel]

The small new channel (in red) is kind of steeeeep ...

HI UEMPEL
Here’s what stockcharts said when I asked them about the Bullish Percent wacky chart like $BPNYA:
“We've started updating our BPI data during the trading day, so Candlestick is now an option with BPI charts. To see end-of-day only charts, select one of the Close-only chart types, like Line”

Wow! Thanks for the information. But honestly, I don't understand.

These Bullish percentges are generated with P&F charts. BPs of the indices are based on thousands of equity P&F charts... So now they take the intraday data (hourly or 15min) and make an intraday BPSPX or BPNYA?

Daily P&F charts are considered valid if the equity closes at a certain level, intraday action is considered unimportant.

Should an intraday BPSPX or BPNYA help our intraday trading? What's the purpose? Honestly, I don't understand

I'll write to Chip.

Thanks Al.

[fehro]

VIX daily .. may find support on it's 20d... mid BB band. "trend line" possible...

[Al_Dente]

The small new channel (in red) is kind of steeeeep ...

HI UEMPEL
Here’s what stockcharts said when I asked them about the Bullish Percent wacky chart like $BPNYA:
“We've started updating our BPI data during the trading day, so Candlestick is now an option with BPI charts. To see end-of-day only charts, select one of the Close-only chart types, like Line”

Wow! Thanks for the information. But honestly, I don't understand.
These Bullish percentges are generated with P&F charts. BPs of the indices are based on thousands of equity P&F charts... So now they take the intraday data (hourly or 15min) and make an intraday BPSPX or BPNYA?
Daily P&F charts are considered valid if the equity closes at a certain level, intraday action is considered unimportant.
Should an intraday BPSPX or BPNYA help our intraday trading? What's the purpose? Honestly, I don't understand
I'll write to Chip.
Thanks Al.

I agree
They’re doing the same thing with $BPSPX etc
But they didn’t make any of it retroactive.
Maybe eventually when it fills the chart we can see better how to use it

[fehro]

RUT 60m.. resistance area.

[Cobra]

i read it as the 2nd test of day high, so no sharp pullback is allowed here.

[L_T]

IWM making higher highs intraday 5 min.

[fehro]

SPX 60m another look.. possible resistance here.

[Apple]

XLE: Maybe easier to see using $XOI: I think we're heading back down maybe to the 1385 area (next week or early part of week after). If it does, without breaking 1377ish, the end of November may unfold another dramatic move... Overlay the two to see the XLE targets...fwiw.

[Mr. T]

They're trying to steal my gold chains....... I think I'll sell them some gold colored chains instead......

[wayne0708]

small caps made intraday new high but spy has not

[wayne0708]

indeed new high...