04/12/2012 Live Update

[Cobra]

still touching the channel top so no sign of weakness in push up, we shall see another new high after the initial pullback.

[SWalsh]

spx...??

TG, just a suggestion for you to look at. One characteristic of B waves is that they are drawn-out affairs compared to an A and a C wave. Rarely are they less than .618 of wave A. When one is not sure what something is, defaulting to a B wave is more often right than wrong. Start putting that into the mix as a consideration and maybe it will make more sense.

All of yesterday fits as a B wave. Note the time difference from the up wave A. It could also have been a 2, but that would imply new market highs and that this is not a correction of the drop. I don't think the latter fits, but I rule out nothing anymore in HFT world.

[BullBear52x]

Paging Harapa, looking good on both.

what's the yellow dots?
would it kill u to just say the word "buy" ?
one time?

JPM is a sell kiss good bye zone.

you see my green arrow, same as buy.

[uempel]

Update:

[Cobra]

aapl sharp down now, interesting. lunch time. will be back.

[wayne0708]

gap resistance.

Nice observation Cobra. Any chances that gap ll be filled?
may be tomorrow?

on the bull side, better believe unbelievable. so why not filled? why not SPX 3,000 today.

the run up today has a lot to do with Janet Yellen speech regarding QE

[TraderGirl]

SPX broke thru trend line, now we will see if it holds...

[j1900q]

Good teaching on the B wave Walsh

[Al_Dente]

okay folks
china will now have a soft landing
as opposed to the other day when china was headed for a hard landing

[TraderGirl]

spx...??

TG, just a suggestion for you to look at. One characteristic of B waves is that they are drawn-out affairs compared to an A and a C wave. Rarely are they less than .618 of wave A. When one is not sure what something is, defaulting to a B wave is more often right than wrong. Start putting that into the mix as a consideration and maybe it will make more sense.

All of yesterday fits as a B wave. Note the time difference from the up wave A. It could also have been a 2, but that would imply new market highs and that this is not a correction of the drop. I don't think the latter fits, but I rule out nothing anymore in HFT world.

Thanks Walsh!! I had yesterday as a B wave, today as a C wave... so I think we are on the same page...

[TWT]

SPX: Follow up of short term EWP

[uempel]

1386 looks like an (unimportant?) pivot:

[tradematti]

hi cobra

you said if up huge to day , more up coming may be another up day tommorow ?

[TraderGirl]

DJI...??? Could it be backtesting broken trend line?

[Cobra]

aapl key time.

[SWalsh]

Your right it sucked..I just soft peddle a little bit.

I was once like you. But then the evidence became overwhelming and the only people screaming that one was crazy were neophytes who started trading after March 2009. Those are the dot-com types, who are like my friend at Lucent, who kept buying his stock scale down from $60 and now will never retire. He kept saying, "we invented the transistor". I would taught him with, "Yeah, around the time of Roswell"

[uempel]

I've got a signal in 10 minutes, 14:00 pm

[SWalsh]

I have 1hr and 15 min left to trade today then I'm going shopping with the wife...

I'd rather put a blank in a gun and claim to have shot myself in the foot with ketchup in a sock....LOL

[Cobra]

finally touched ema20, usually H2 is long so wait for h2.

[wayne0708]

finally touched ema20, usually H2 is long so wait for h2.

Cobra: I know you dont like me asking this question, but how do you define H2