04/18/2012 Live Update

[Cobra]

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Gap down within yesterday's range so the gap might be filled.

The Global ES is at a critical time because it tested the previous high and fell back. This leaves 2 interpretation, depending on whether you walk with your hoofs or claws:

Bears: This is a potential double top, but it needs keep falling more to make the possibility higher.
Bulls: Come on, we're just taking a breath before breaking out higher, much much higher!

And here's the Cobra's interpretation, who walks without foot: Remember what I said last night? I think the pullback is larger than I'd like to see, although I'd like to give it a more wiggle room, but no more drop here please!

[KeiZai]

GM,

T2 is ✔ now the T3 however Im not absolutely sure if there is not more up, if it not goes down then it is B-plan

B-PLAN

Russell in the channel

[Cobra]

the open.

[alphahorn]

Interesting day yesterday, one thing I haven't seen posted anywhere is the major indexes all zoomed up to close gaps. now that this has been accomplished will we see the next abc down to finish intermediate wave (4)?

[Al_Dente]

AMZN 5min

[TraderGirl]

Analog of BIDU...wondering if we are nearing a double top...??

[L_T]

CHK looking bad again today but for once it's not the fault of nat gas:

HOUSTON (Reuters) - Aubrey McClendon, the CEO of Chesapeake Energy Corp, has borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells - a move that analysts, academics and attorneys who reviewed loan documents say raises the potential for conflicts of interest.

The loans, which haven't been previously detailed to shareholders, are used to fund McClendon's operating costs for an unusual corporate perk that offers him a chance to invest in a 2.5 percent interest in every well the company drills. McClendon in turn is using the 2.5 percent stakes as collateral on those same loans, documents filed in five states show.

The size and nature of the loans raise questions about whether McClendon's personal financial deals could compromise his fiduciary duty to Chesapeake investors, experts who reviewed the documents told Reuters.

Both McClendon and Chesapeake said the loans don't pose any conflict of interest. And they are private transactions that the company has no responsibility to disclose or to vet, Chesapeake said. "There are no covenants or obligations in my loan documents or mortgages that bind Chesapeake in any way," McClendon wrote in an email to Reuters.

[Cobra]

very strong opening.

[TraderGirl]

spx..

[Al_Dente]

"Shareholders in Citigroup Reject Executive Pay Plan"
The vote, which is not binding, is the first time that investors at one of the nation's largest banks have rejected a board's compensation plan.
http://dealbook.nytimes.com/2012/04/17/ ... 2_20120418

[Al_Dente]

internals diverge
15 min

[knock]

spx..

tradergirl, bradley turndate at 23rd. any feeling the top is in around that time frame? thanks

[PLUNGE]

SPX may be in wave 4 of C up here with final target around 1396 where Wave A = Wave C.

[PLUNGE]

SPX may be in wave 4 of C up here with final target around 1396 where Wave A = Wave C.

[stucap]

I love how EUR/USD has a habit of hitting support at around 9am --- just about the time when US traders start putting on their "short" dollar trade for the day and prop it back up. BOING.

[KeiZai]

My DAX roadmap, much clearer then spx

[SWalsh]

CHK looking bad again today but for once it's not the fault of nat gas:

HOUSTON (Reuters) - Aubrey McClendon, the CEO of Chesapeake Energy Corp, has borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells - a move that analysts, academics and attorneys who reviewed loan documents say raises the potential for conflicts of interest.

Wasn't that the company during the May 6, 2010 Flash Crash that dropped 90%?

[uempel]

Update and an explanation in regard to application of ellipses/circles

[KENA]

Note we have made lower lows and lower hi's..This chart showes the strong stocks minus the weak stocks..The mkt is trying to go up on less and less strong stocks..If another lower hi is made look for a good dn move,its getting closer.Note how the S&P moves in the chart below in relation to the movement of the strong stocks.Chart by stocktiming.

[TraderGirl]

spx..

tradergirl, bradley turndate at 23rd. any feeling the top is in around that time frame? thanks

Well, Bradley dates have a +/- 4 day window, and we have a turn date tomorrow, and Friday has very negative astro aspects, so from everything I have seen it looks like we could be down into Friday, but I will be taking that as a buying opportunity, because Monday could be up big.