05/08/2012 Live Update

[Cobra]

normal pattern. not sure, just I think the rebound was strong so should have another leg.

[MrMiyagi]

IWM is strong, it is above the open

Seems the rebound is strong. So it seems possible that SP will close above 1360 ...?

[TraderGirl]

Been taking care of my little one who is sick, missed out on the action!

We could try to make a backtest of the bear wedge, then down to support..??

[Al_Dente]

Here is my lead man, SKY is the limit? I don't think so. sell intraday.

bb can u give me more time frame on that chart, eg, how often and when is your red line the signal?
Does it need to go down BELOW the red line to signal, etc
Just ignore if it's too much trouble, thx

NOT MARKET RELATED
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[wavelover]

hope your little one gets well soon -- you have some great charts -- thanks for sharing

[cougar]

SPY update: minor bounce at the base of the octave. The LOD might be in . Latest news from Greece are wishy-washy OK

[ocassional observer]

GLD breaking down from a large triangle. not sure about the target. first but not last stop is 150.

[cougar]

AAPL still confined to a controlled downtrend

[Apple]

http://business.time.com/2012/05/08/fac ... investors/

[Petsamo]

IWM is strong, it is above the open

Seems the rebound is strong. So it seems possible that SP will close above 1360 ...?

Tradeyourwayout.com believes the bottom is below 1360. That's done. Then we move to new highs.
Market Owl is long. He also believes we go to new highs.
I went 100% long with X, when it hit 26.63. I can sell long positions if I need to.

Disclaimer: No one is correct all the time.

[Cobra]

Been taking care of my little one who is sick, missed out on the action!

We could try to make a backtest of the bear wedge, then down to support..??

Hope your little one is fine now.

[gappy]

ATR near low of day, while ADX on down glide = calm, serious, posistioning now.

[SWalsh]

The target is 1340? Maybe some bounce there? The 15min chart of stochatics show that we may be near a bottom for today...

Carlos, trading programs have a virtually unlimited supply of indicators. One can always find something that say "it should stop here". Be careful not to search for one if you should ever have a bad position on as one if always available.

Here's how it works....consider your head to be connected to a funnel that is fed information. if a position has you under stress, the neck of that funnel constricts and you filter information to support what you desire (Van Tharp - Trading Psychologist)

[uempel]

Bye guys, I've done my bit for today, waiting for the close. Break of SPX 1360 is bearish, an (unlikely) rise back above 1360 is bullish. P&F charts show it nicely, the smaller chart is traditional, the larger chart is ATR (average true range), both charts signal the same message

[Cobra]

OK, at this stage, bears are at the river of no return, absolutely no strong rebound here otherwise the low was in.

[BullBear52x]

Here is my lead man, SKY is the limit? I don't think so. sell intraday.

bb can u give me more time frame on that chart, eg, how often and when is your red line the signal?
Does it need to go down BELOW the red line to signal, etc
Just ignore if it's too much trouble, thx

It's RSI 50 on one minute chart, how often? few times in a week or so. I use it follow the standard RSI study of over bought and over sold. when to trigger? trend determines it. here's an example.

[learningT]

Where I entered short on TNA, in 2 steps:

what indicator(s) or consideration went into these short trades?

[TraderGirl]

Thanks all, she is getting better...she still has a fever, but getting better...luckily she is taking a nap...

Chart of SLV, looks like we could hit trend line #1 soon, but the market will probably bounce around until we get more of a nasty correction into the end of June, so I can't imagine that SLV is done with correcting...IMHO.

If the analog is correct that means that point #8 gets below point #6...

The TSI is close to trend line support for a bounce, but we could also fall through, putting more downside pressure on SLV...

[fehro]

trendlines.

[champix]

my chart for GC,
Break of the triangle could leave to a minimum target of 1550 (could be a kiss and good bye too).
I do not know why, but it is a little bit too obvious... we'll see.