04/19/2012 Live Update

[MrMiyagi]

This is one of the quietest days on Twitter.

[uempel]

Paging Uempel,

Do you still have an ellipse suggesting that something may happen at 12:30?

It may affect when I eat lunch...

Looks like yesterday's precdiction was not precise - I guess the signal came a few minutes ago. Sorry.

4.png

Indeed! The market spoke at the appointed time. Now I can eat.

Strikes me that there may be a battle going on between the 138 and 139 SPY strikes for OPEX. So, I have been assembling a modest position on the short side north of 138.50 with a view that we're in a bounce/bear flag from the April 10 low that will break down at some point. I don't feel strongly about it though as a good bull day or two could flip the technical orientation to revisiting the old highs.

Yeah, check the chart I posted at 11:23 (11:23? - I don't quite undertand, I guess this forum is still on wintertime...)

[Mr. BachNut]

Hmm. The VIX declining tops line of the last two days has been broken on the upside and a rising bottoms line is taking shape. Bearish.

[BullBear52x]

stay too long under mid BB, bulls are out of patient, DIA try to lead back up but turn down once again. this is weaker than anticipated for the bull.

[TraderGirl]

TraderLady, this chart does not look bullish, right?

The attachment 5.png is no longer available

I thought that blue channel goes to 1375??

[SWalsh]

after leading diagonal for of c

With your third wave of your LD wave not dropping below wave (i) of I'm strained to believe that will be the count. My understanding is that the third wave of any degree must surpass the end of wave 1 or it is a subdivision of the next wave. If you have something from EWP that shows I have that incorrect I would welcome seeing it. I can see a wave truncated, and often do, as the last wave of 1 larger degree, but not as middle component.

[uempel]

Hmm. The VIX declining tops line of the last two days has been broken on the upside and a rising bottoms line is taking shape. Bearish.

No lunch

[BullBear52x]

New LOD on DIA will be a sell (swing sell)

[Cobra]

key time now, make it or break it. bears better take a breath here, a direct break down might be head fake.

[fehro]

break 1376...bear flag.... could see a swift move to 1343ish?

[soku]

how is everybody doing lately? i have been buried by work for couple days. still trade a little bit via my phone but no time to chat. yeah i know i am addicted.
today is so far the best day in 2012 for me. 3 swings all nice and clean. banked 27 points. i think the following couple trading hours will be hard. nobody wants to argue with me this is a down trend, right? right? right? as we discussed as long as bulls cannot take 50% of the drop, which is around es 1390, it is a weak market. i read es formed a triple head at 1390. everything is shortable now, even AAPL. (calling Sir Newton)
intraday chart still pointing down or weak consolidation, but imf/world bank meeting is going on. u never know what they will say what they will do. as a general suggestion, hold less, overnight. key levels to watch are spx 1370, 1375.

[Petsamo]

Inverted H&S on SPY 1 min

[BullBear52x]

let see how this bearish crossed on 5min survive.

[TraderGirl]

ndx...support here, but if fails, next support around 2680

[BullBear52x]

how is everybody doing lately? i have been buried by work for couple days. still trade a little bit via my phone but no time to chat. yeah i know i am addicted.
today is so far the best day in 2012 for me. 3 swings all nice and clean. banked 27 points. i think the following couple trading hours will be hard. nobody wants to argue with me this is a down trend, right? right? right? as we discussed as long as bulls cannot take 50% of the drop, which is around es 1390, it is a weak market. i read es formed a triple head at 1390. everything is shortable now, even AAPL. (calling Sir Newton)
intraday chart still pointing down or weak consolidation, but imf/world bank meeting is going on. u never know what they will say what they will do. as a general suggestion, hold less, overnight. key levels to watch are spx 1370, 1375.

AAPL got bearish crossed now too. and price level bearish.

[TraderGirl]

spx, support on TSI looks like a break...

[soku]

did u short ng? 1.906? now we back to 1997 if considering inflation adjustment.

[BullBear52x]

Chow time, SLV is better looking then GLD

[soku]

break 1376...bear flag.... could see a swift move to 1343ish?

nice chart. by just looking at the small channel, i am not sure about is whether we are going to have a final up leg. feel like the mom is too weak to support a powerful drop at this moment.

btw where is everybody? this plce getting quiet lately.

[Cobra]

a consolidation here before break down is needed, so not bad for bears. lunch time, will be back.