04/23/2012 Live Update

[Cobra]

Cobra any suggestions about the bear flag target?

too early to tell, need the flag to finish first.

[CarlosDK]

Did we not break the lower trendline on SPY of this bear flag today ? I thought so.

[Ed02]

Overview:

SPX4.png

SPX5.png

Thanks!

[ken_d17]

looks like we are just below the flag trendline. real breakdown of fake? i guess we give it about ten minutes.

[Cobra]

volume surge, so hopefully some pullbacks here. the chart really looks like a bear flag, cannot believe it would fail (I'm always prepared though).

[CarlosDK]

Cobra there is also a top head and shoulders pattern targeting 1290-1300 on SPX ,, do you see this ?

[Mr. BachNut]

Overview:

SPX4.png

SPX5.png

1369ish seems too nice for the bears. I'll plan on 1385ish and worry that it is a kiss hello...

[Cobra]

Cobra there is also a top head and shoulders pattern targeting 1290-1300 on SPX ,, do you see this ?

NO. H&S Top requires a previous uptrend. we're mostly in downtrend recently.

[CarlosDK]

There is one been formed over the past months since early March ,,, that was an uptrend ,, now looks like we slowly going into a new downtrend.

[traderessentials]

H1 on SSO I think

[Kos]

Cobra,
if i understand correctly your 6.5% swing can be at either direction. I was wondering if possible we see the bottom today then your famous 6.5% into upside insted of downside.
Do you see any possiblity for that?

[KENA]

Anyone else see the PBAR on the IWM on TOS @ 10:50 am to 78.86? Unbelievable.

Yep - I have it on Fidelity

Yes I have that one and one more at above 80.10 at about 12:30.Don't get excited.

[Cobra]

Cobra,
if i understand correctly your 6.5% swing can be at either direction. I was wondering if possible we see the bottom today then your famous 6.5% into upside insted of downside.
Do you see any possiblity for that?

No, not a correct understandings. If we up from here for another 6.5%+, there would be no 6.5%+ swing at all around March this year. Go check the weekend report, see the chart carefully, only the 6.5%+ down swing can make the ZigZag indicator to show a swing.

Also please the next time don't ask this kind of question publicly as it's not fair to other members. You can either send me an email or comment in the main site.

Thanks.

[CarlosDK]

Cobra if you had to make a wild guess by rest of today ,, how do you think it would play out?

[Cobra]

Cobra if you had to make a wild guess by rest of today ,, how do you think it would play out?

the chart still looks bearish to me. lunch time, will be back.

[MrMiyagi]

Yes I have that one and one more at above 80.10 at about 12:30.Don't get excited.

I don't see the 80.10$ one, my RBC platform is pretty good with p-bars, about all it's good for...

[TWT]

AAPL: The 1x1 target = 548

[SWalsh]

Isn't this a clear "all clear" for Ben to print?

If Europe is going down the toilet - who's going to stop it? Ben's the only game in town.

Benny and in Ink Jets is the only Lender of Last Resort in the world and we are a fiscal disaster. And I think the ability to hold belief in a US Economy where FEW people know that taxes are set to really jump on January 1st is going to cease. I have no faith in the Fed. When more investors begin to understand what I do there will be no belief that the Fed can keep things together. And when the lender of last Resort fails you will see Begger-Thy-Neighbor begin. That's led to some really neat wars too!

Bernanke saved the world from nothing. He helped rape nations. He is lucky he was not the Chinese Finance Minister. Over there, when you screw-up they put a bullet in your head and charge the family for the bullet. North Korea just executed some generals. Why? Well one was caught drinking during the official morning period for the pot bellied pig who died. That troubled the psychopathic son he raised. Other high ranking officers were just not upset enough. The extent of the purge is yet unknown. What is known is that he wanted no remains so they were placed out on an artillery range and blown to pieces. And the rest of the world celebrated Earth Day. Kafka and Voltaire would loved to have lived in these times.

[btran874]

Is it me or the chart no longer looks bearish?

[jarbo456]

does anyone have an opinion on CMG? my system is telling me to buy it today with a stop loss below today's low. it should try for the 440 high's one more time.