05/02/2012 Live Update

[Al_Dente]

Check 10:00 am

3.png

I show factory orders met forcast(?), now what boss?
Internals bear
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =260018308

CNBC just said they came in worse thn expected.

thanks kena
I have bad info
Est -1.5%
Actual -1.5%
http://www.forexfactory.com/
I hate it when I have to check more than one news source
Anyway, still bear

[uempel]

Check 10:00 am

3.png

I show factory orders met forcast(?), now what boss?
Internals bear
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =260018308

Al, in March DMA 34 was support and today it's support too. It's at 1393.83 (Stockcharts) now and I'm watching closely. Note too that if markets are down today the bullish percentages won't look good tonight. Something else: I've got a signal on the daily for tomorrow

[Mr. BachNut]

Long. Here comes the whipsaw...after my protective hedge was taken out yesterday. Ugh.
I have got some support here and a next layer down around SPY 138.6.
The technicals I watch actually firmed up yesterday but remain vulnerable to flipping with a big enough downdraft.
I expect the chop to continue but have an open mind if the turn is here.

[Mr. T]

The 6 p-bars from SPY yesterday were met by Venkman this morning.

Venkman got slimed......

[Al_Dente]

Yellow lines

nice call yest baron
u da man

[rpccharts]

ALL MAJOR MKTS LOOK LIKE ABC DOWN FORMATIONS ON 60MIN DAILY AND WEEKLY CHARTS

[cougar]

$SPX has some support in the 1392 zone:

[MrMiyagi]

Oh Benny and the Feds will fix the market; green by Friday or Mr T will kick the shhhhh out of them!

[rpccharts]

SPOOS ready to dump in price and time

[BullBear52x]

Yellow lines

nice call yest baron
u da man

check out TNA, daily here.

[rpccharts]

SPOO DUMP TIME

[Cobra]

again, key support here. I don't believe it'd break below on the very first try.

[TraderGirl]

I guess the big move could have been the down move. They are usually 15-20 points, but maybe we are not done . But we could get an up move at some point between today and tomorrow. Could come tomorrow on jobless claims...

In any case 5 waves have been trading in an abc format, so we could be getting something like the following...

[uempel]

again, key support here. I don't believe it'd break below on the very first try.

MA 34 was support, now at 1393.89.

[CarlosDK]

Tradergirl what does the PLANETS tell you about tomorrow ?

[uempel]

I guess the big move could have been the down move. They are usually 15-20 points, but maybe we are not done . But we could get an up move at some point between today and tomorrow. Could come tomorrow on jobless claims...

In any case 5 waves have been trading in an abc format, so we could be getting something like the following...

TraderLady, this chart suggests a move tomorrow too. I kind of like it when economic data and TA add up

[Al_Dente]

PAGING UEMPEL
re BP thread. I always watch for your BP update on disqus
Here’s update on my “lazy man’s” bullish %
But it is all yesterday…..
Strongest was staples (defensives)
Banks were holding up
Materials and oil were bouncy, and if I could only fit gold miners in here, they are bounceable too
http://stockcharts.com/h-sc/ui?s=$BPSPX ... =242965998

[uempel]

SPOOS ready to dump in price and time

Sure like your chart

[KeiZai]

One more down?

[TraderGirl]

Tradergirl what does the PLANETS tell you about tomorrow ?

Well, all I know is that tomorrow is the Venus Mercury aspect, but the positive energy can happen into the aspect, rather than after. I just see a big spike up, then another correction, so If we get the spike up today, we could be down after the earnings announcement, and if we don't get a spike today, maybe it comes tomorrow after the announcement, but could sell off soon after.

What it comes down to is that we could be getting lots of chop till next week, when there could be a considerable rally from 8/9 to 11th...