04/29/2014 Live Update

[fehro]

SPX 5m.. possible resistance here...

[MrMiyagi]

spy

[pdz]

2843.png

186.9 shows as a pre-market 9am bar on IB chart

[BullBear52x]

Daily: if it will be like January of this year, then the next hanging man is what we should look for?

[Mr. BachNut]

Neutral. No position. Worked on other things yesterday.

My summation signal is neutral.
My composite trend signal remains up. Remarkably, all 3 of the critical trend indicators are down!
So, if enough weakness were to evolve in the rest of the model, the next signal would be down and not neutral.

I want to buy trends that run for awhile, and my models are set up to signal possible candidates.
Appropriately given recent trading, the signals are experiencing funk and neutrality.

BachNut, I always enjoy reading your careful assessment of your indicators. Thanks. Here a look at the signal on the 60 min chart which suggests a break of the recent consolidation in the 1850 range.

I have a slightly bullish bias - but perhaps it's going to be a mere trap. Very difficult to assess.

Bulls have to get the benefit of the doubt. That has been the way for some time.
My sense is Mr. Market is setting up to dance a higher high as well as a lower low but has to mess with everybody's head first.
I posted a diamond top idea yesterday to think about, but a simple megaphone may be what we get. Don't know.

The problem with trading like we have seen is that it fuzzes up signals and pushes people to dull their setups.
Triggers get loosened; stops get widened; sizes get reduced; signals get balked, and signals like mine take days to move not hours or minutes.
By the time the big trade arrives, folks enter late and underexposed. Not a yummy market for trend traders.
At the moment, I am inclined to mechanically honor a setup (regardless of belief and fuzzy as it may be) with a partial position and supplement it with aligned discretionary day trades to stay nimble.
This is more like a snake than a turtle I know. I think later in the year I'll be able to set it and forget it the way a turtle likes.

[ALdaytrade]

Looking like a very small adam and eve here on spx on the 5 minute?

[BullBear52x]

BAC next sell the rip I will target it at 14

JPM if bear flag plays out it will be 48?

[BullBear52x]

EEM is entering sell the rip zone, if this sell fails it's bad news for SPX, wish me luck on the next trigger if you're bull SPX

[uempel]

Two of my favorite indicators are MA 9 (solid pink) and BB 13/1 (green area). So far SPX chose to move in-between today.

[Al_Dente]

QQQ struggled inside of gap resistance, now back-testing already
Bulls should have pushed right through that gap
She’ll try again if volume can maintain that 2/1 bull ratio, and trinq remains bull

[Out of Bounds]

Daily: if it will be like January of this year, then the next hanging man is what we should look for?

I am working under the assumption that the hanging man from 4/24 is still dominating the chart.

[ALdaytrade]

Two of my favorite indicators are MA 9 (solid pink) and BB 13/1 (green area). So far SPX chose to move in-between today.

6.png

Interesting, those are the indicators that are on my daily charts too.

[BullBear52x]

Daily: if it will be like January of this year, then the next hanging man is what we should look for?

I am working under the assumption that the hanging man from 4/24 is still dominating the chart.

LH is still in play for sure.

[Out of Bounds]

That flutter to the downside that we just had was REALLY broad based. Small little drop but it hit everything.

[FlowerGirl]

2843.png

This catch is good for a couple of dollars!
Thanks MrMiyagi!

[BullBear52x]

a chase number two

[Cobra]

3rd touch of upper blue line, a break out is more likely.

[Al_Dente]

Compare the volume in the previous rallys to today’s (second panel, green circles)
Rallys get fuel from GREEN volume ratios of 2-to-1 or better
Today’s bull-volume ratio was >2-to-1 bull, now drooping a bit, trin is still quite bull
It’s a good start, but bulls will need more volume to push through that box/range; bull volume follow-through is desperately needed tomorrow
All hinges on the reaction to FOMC tomorrow

[Al_Dente]

a chase number two

Boss, doesn’t Papa EVER chase anything?
http://www.youtube.com/watch?v=fDi2XdFUy3I

[TWT]

$SPX: An ugly impulsive option