05/03/2012 Live Update

[Cobra]

hmm, here comes the 2nd leg down. I'm neutral, not much clue. tinted area is 100% Measured Move target.

Cobra, H&S in the work on the SPY intermediate term?

target 137.5 ish?

need a confirmed break down first, too early to tell now. besides H&S pattern has very high failure rate.

[fehro]

trendlines... bullish falling wedge? or H&S? could be a sharp move under 1392ish

[SWalsh]

I see a signal at 13:30 pm:

4.png

Did you see the one at 10:00-10:05? (although narrowing it down to that small is risky)

[cli]

hmm, here comes the 2nd leg down. I'm neutral, not much clue. tinted area is 100% Measured Move target.

Cobra, H&S in the work on the SPY intermediate term?

target 137.5 ish?

need a confirmed break down first, too early to tell now. besides H&S pattern has very high failure rate.

thanks

[gappy]

ag.png

Possible BULLISH Gartley OR Crab on 60 min. chart of SLV.

Comments, criticism welcome...playing with this

Big overnight P-bar spikes up once a week preceeds a lower low intraday. Gaming it like that smacks of desperation. Asia has lost interest, the low fruit has been picked. I look to go long somewhere around 25/oz late summer.

[SWalsh]

I believe a good chunk of the long only crowd is remaining patient as long as they sense that this big trend is continuing in force. Once broken, they'll have decisions to make.

You mean like when the last Liberty Ship with ammo is seen coming with no more on the horizon?

No one should worry.....The Lloyd (MacArthur) gets out okay!

[Cobra]

it's the river of no return for bears here because it's already 2 legged down so if cannot break down, then chances are the low was in for this round pullback, bulls will challenge the previous high.

[Cobra]

a consolidation here before break down is ok for bears, let's wait.

[TraderGirl]

Wow, major distribution going on in the market, stocks are getting slammed, while the indexes are holding up pretty well. GMCR taking a 50% haircut today...

[Cobra]

aapl, you don't want to see a triangle here: http://stockcharts.com/public/1684859/c ... /260183775;

[Al_Dente]

Mr. Bachnut: U totally crack me up: chopfest, the sanctity of your “lunch hours”, now magentas, investing with a ruler…

Keizai: Okay then,
This is a critical week SLV (LT)
That fork thingie (drawn from ’08) might hold support
Bounce is due; oversold

[SWalsh]

Maybe we are trying to get an abc down for A wave attempting a lower low than yesterday to complete so that we can get a B wave up..??

That would be one heck of a C wave failure of a zigzag. Wave A would be 21.4 points and wave C would be 9.34 and a "failure". I would think that wouldn't likely be how a C wave ends of anything UNLESS we are in a dreaded triangle.

[Mr. BachNut]

I see a signal at 13:30 pm:

4.png

Nice chart. The measured move and support possibilities make sense. From where we sit now near the lows, an algo driven stop run could deal that out. Hmmm. I better get lunch done with now...

[MrMiyagi]

Wow, major distribution going on in the market, stocks are getting slammed, while the indexes are holding up pretty well. GMCR taking a 50% haircut today...

I had seen a report or some mini documentary on GMCR a few months ago talking about their single-serve coffee patent expiring this September, not sure why anyone thought that it would not start affecting the company at this point but there ya go.

[CarlosDK]

Cobra

Is it true by STATISTICS ,, FRIDAY and MONDAY and TUESDAY is BEARISH days ?

[Cobra]

Cobra

Is it true by STATISTICS ,, FRIDAY and MONDAY and TUESDAY is BEARISH days ?

No. Friday maybe bearish, Monday no data, Tuesday seems bullish.

[Cobra]

consolidation is what bears want, so bulls are not out of the woods yet.

[KeiZai]

Just for update, target not reached yet

[SWalsh]

This would be interesting:

[TraderGirl]

Wow, major distribution going on in the market, stocks are getting slammed, while the indexes are holding up pretty well. GMCR taking a 50% haircut today...

I had seen a report or some mini documentary on GMCR a few months ago talking about their single-serve coffee patent expiring this September, not sure why anyone thought that it would not start affecting the company at this point but there ya go.

I think because a stock ran up so high, people still have a belief that it will continue to do the same thing, all the while it keeps getting knocked down....like netflix...