04/12/2012 Live Update

[Al_Dente]

one min
PS: soku what is hf ?

[Harapa]

rumor says some hf is covering shorts. the 10 point rally is tricky. be cautious people.

Check Stochastic indicator that I posted yesterday for IWM. It is has been doing well lately.

[Cobra]

well, so far works as planed. when i saw flat open, I thought my call was wrong. but it turned out to be it's still right. now you should know the target. the min target has been reached.

[ZimZeb]

[j1900q]

Great 15 min chart

[Cobra]

this kind of morning push up rarely fails right away, so be prepared for the 3 (small) leg up.

[TWT]

EURUSD: Follow up of short term EWP

[SWalsh]

Liquidity had a slight up tick yesterday..The DW NYSEBP and others all were in the red yesterday while the mkt was up.this does not speek well of the mkt.Vix is at 19.17,the closer we get to 20 the better for the bears.Now lets see how things go.

Just after 9:45 the HFTs threw a switch( of sorts) and put a steady flow of 250-400 stocks about every 3-5 seconds with a few spikes to 450 and one to near 800.

We have barely positive $UVOL-$DVOL

You'll see a lot of funny things in Pottersville (be sure to scroll to text):

[TraderGirl]

spx...??

[Al_Dente]

spx041212els.png

WAY cool
Do u have that on shorter time frame?
U have THE BEST CHARTS

“A good picture, any picture, has to be bristling with razor blades.” [Pablo Picasso]

[soku]

one min
PS: soku what is hf ?

412one.png

i just heard another hedge fund is buying. not sure if it is covering. it is hard to guess why they do that. it could be: 1. they hold shorts to hedge their long position, or they naked short to bet for market drop.
the impact is now the chart turned into uptrend from dn in last half hour. lots of indicators got interrupted. i am not going to trade it. will wait until things cooling down,

[TraderGirl]

tomorrow is another turn date, so we could be up into tomorrow anytime, or fall of this afternoon..??

watching XIV to be forming bear flag?? may take profits at upper trend line...??

[Al_Dente]

allignment
yes

[taggard]

Have initiated a long position.
Setup is driven by McClellan Oscillator rebounding from over-extension on the downside.
Tuesday's low should hold. Will add on a pull back or test of yesterday's low.
Gulp.

yeah--and nysi looks about the same esp using an rsi. my only bitch is that qqq on a weekly usually touches or comes very close to the 10 ema prior to events like this being over after longer runs (of not hitting it). what's really going to be interesting looking out is if the 50% fib of the entire decline since 2000 is going to hold or if they try for 62% (and obviously if aapl chills on this next move or leads it--esp if aapl leads and the qqq does not follow as it has been) (this fib observation is not using stockcharts data). But the ideal add point (not holding breath but not dissing) would be a lower low in spy (or qqq) and nymo to make a higher bottom (which given the last low seems very likely if we can get it down seriously).

good luck with your trades

[soku]

weighted price at es 1380 but it doesn't have vol support. not sure it will stop the crazy bull

[ZimZeb]

Do u have that on shorter time frame?

Thanks for the kind words AD & thanks for all the excellent charts you share. I figuratively did that one by hand (literally did it...by pixel?), so I don't yet have any other timeframes.

Wonderful Picasso quote!

[Cobra]

aapl update. now obviously it's not a H&S Top. Could be a larger H&S Top in the forming though but definitely the current H&S Top is no valid. I'll update the chart after showing you what it looks like now.

[soku]

some other related news. gs upgrade gdp growth to 2.5 from 2.25. does the econ tell the market to slow down a little bit?
rumor says china gdp 9% tonight. they just said 7.5 from 8.5. now they jump back to 9? r they day trading the market?
i guess there is chance the big boys are trying to front run and exit shorts

[Mr. BachNut]

Have initiated a long position.
Setup is driven by McClellan Oscillator rebounding from over-extension on the downside.
Tuesday's low should hold. Will add on a pull back or test of yesterday's low.
Gulp.

yeah--and nysi looks about the same esp using an rsi. my only bitch is that qqq on a weekly usually touches or comes very close to the 10 ema prior to events like this being over after longer runs (of not hitting it). what's really going to be interesting looking out is if the 50% fib of the entire decline since 2000 is going to hold or if they try for 62% (and obviously if aapl chills on this next move or leads it--esp if aapl leads and the qqq does not follow as it has been) (this fib observation is not using stockcharts data). But the ideal add point (not holding breath but not dissing) would be a lower low in spy (or qqq) and nymo to make a higher bottom (which given the last low seems very likely if we can get it down seriously).

good luck with your trades

This is a counter trend trade. I expect to be out of it within a week unless there is evidence that the trend has changed. Just my gut, but I believe the correction off the April 2 high will need another wave down to complete at some point.

[locotero]

Cobra

what about GOOG for today earnings?