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market internal is super strong today. I guess 80% of chance close at high of the day. If not, then we will see big pull back at night.heavenskrow wrote:i think top is in for today
mac769 wrote:I am sorry to disagree, but this sure sounds like a suicide tactic this early...AK84 wrote:Yup. I agree. Im short CMG , NFLX and GOOG (max pain is 545). all positions entered today.KENA wrote:IMHO..I don't see the mkt going up much from here..Some of the leaders have topped out and are having Lots of Res. on the dn trend line.None have broken it yet.These are..VMW,LULU,CMG,BIDU,NFLX..N ow we wait and see.
AAPL is not moving either....which is a red flag to me even though im long and have a target of 397...im thinking of leaving 1 oct call on as a hedge for my shorts!
But I would love to see the maket caught with its PANTSSSSS DOWNNN!!!
bears make money, bulls make money, but pigs get slaughtered
i hope u are right so my UPRO can be happy... =]keesa wrote:market internal is super strong today. I guess 80% of chance close at high of the day. If not, then we will see big pull back at night.heavenskrow wrote:i think top is in for today
I don't see one. I'm on the 1 min chart.pablorynx wrote:phantom bar 118.65
5 minute chart? using BB over herePetsamo wrote:I don't see one. I'm on the 1 min chart.pablorynx wrote:phantom bar 118.65
Small Caps lead the way higher, this is quite bullish reallyStrikePrice wrote:A pretty calm day after the storm. Channeling has been solid today so we must assume we're in an Elliott Impulse Wave. I believe a 3 of 3. My target remains 122.85 area but we could extend into the R3 up at 124.35 because of the short covering many have spoken about.
Cobra's weekend report showed the down wave pattern still looking for Wave 5.
http://lh6.ggpht.com/-tvQY5FlHhA0/TlkvA ... 25255D.png
But it must be made clear that a Wave 5 can truncate, we may have gotten that, the only way to fully know is a 100% retrace back to 121.20. I see we're a few pennies away so my evil plan that it was a Wave 5 truncation looks solid.
This is not to say Cobra isn't right about a revisit to the lows of August. I think, and believe he has already stated, those lows may not be revisited for weeks to even months, or maybe not at all.
A backtest of the breakout line (Triangle) may happen this week but I'd be surprised if it's before Friday's Employment report. And if that employment report is good, I wouldn't be surprised if the Daily 50MA and 200MA gets tested in the coming days to weeks. There's plenty of cash out there and it's going to go somewhere. The Swiss Franc and Gold don't look like the obvious place to go right now.
Cobra wrote:testing the previous high. I think it'll be broken, not today then in the following days.
nowadays nobody cares about volume. We've been up in the past 2 years with volume kept going down.little piggy wrote:Cobra, looks like today spy will stand up above the ema 13, and will test ema 34 on daily chart, but I have a concern about the volume, not higher than Aug 17, the volume is not supporting the breakout. What's your opinion?