05/08/2012 Live Update

[fehro]

1320 could provide reasonable support, if not 200 day SMA 1276ish

what about the 100 day simple at like 1345? held today?

could be right.... could provide a right shoulder during May's options week... another option

[ClarkW]

That 3rd hour candle and this formation had me cover what I came in with and reverse. Not sure if it's anything but an A-B-C off the low, but it could be a failed 5th wave. That would be quite puzzling though as to my own Evil Plan.

Hey SWalsh, would you mind ellaborating on your direction. I like your charts, curious if you reversed so now long or short. Thanks!

[Al_Dente]

Paging Dr. Al, what do you see on UPV/DNV, TRIN>3 still working. at the end of the hour it will be the first positive hourly candle/Bar

squeeze for now boss, can't fight spy...........................................yet

[Cobra]

if bulls managers another reversal day today, then we should see further rebound for a day or two but still NORMALLY this rebound shall fail eventually.

[Cobra]

Hello Cobra. I've been otherwise occupied for over a week, glad to be getting back to things. Missed this board!!!

I see a lagging IWM right now --- not good for bulls.

Anyone see that pop in NG? Triangle -- bias up! HA!

Nice to see you again.

[BullBear52x]

Paging Dr. Al, what do you see on UPV/DNV, TRIN>3 still working. at the end of the hour it will be the first positive hourly candle/Bar

squeeze for now boss, can't fight spy...........................................yet

This is what I am looking at, Hourly got bullish engulfing and confirmed bull candle and Heikin Ashi bar. more on the up side or very positive but the MACD not suggest a new up move not yet. I though I got to leave early today

[BullBear52x]

Charts, not a boring day after all

[Cobra]

volume surged again, let's see how far this pullback can go first, wait...

[Ed02]

SP at 1360 now ...
WS would like pave the way for FB's debut!

[MrMiyagi]

POWER HOUR is upon us... repent all ye sins for the sky is the limit.

Or not.. could go to hell as well.

[BullBear52x]

POWER HOUR is upon us... repent all ye sins for the sky is the limit.

Or not.. could go to hell as well.

Sensei, give me Dojo chop will ya?

[SWalsh]

If you are reading this board it means your money is probably more important to you than many mindless sheeple.

What we are seeing now in America is something not thought of 20 years ago.

The US Government bonds are a Ponzi Scheme AND you might be forced to buy them.

In the coming years you can guess at what is happening, or read this outstanding book that heavily references "It's Different This Time", by Reinhardt and Rogoff, which chronicles over 250 national banking failures over 600 years. No one has ever escaped the massive mistakes our Fed has made and you will learn that it is impossible they could not have seen 2008 coming.

How was it impossible? Read this book, "Endgame: The End of The Debt Supercycle And How It Changes Everything".

The good news is that after we deleverage through harsh drastic measures (and we will have no choice as it will be thrust upon us and our living standards will collapse as "We Are All Greeks") in 15-20 years we will likely be the strongest nation by far and our kids will not make this mistake. But as per Kondrtatiev, just as we made the mistakes, their grandchildren will take stability for granted. And so the cycle goes.

This market will collapse at one point. I do not know that point. But it is closer than most think. Bond rates will be the first signal it has begun in earnest, which is why James Carville said he would like to re-incarnate as the bond market.

[Pharmboy]

Don't post here much, but YMI, RIGL and ELEX should all be bought on weakness....which would be right in here. All have clinical trials ongoing (YMI and ELEX are starting Phase 3). Charts are good to go.....SGEN is holding strong from my last posts (actually it is higher here, but pulled back). VRTX has been a huge winner!

[theRASPYone]

Just a speculation, but I suspect that SPX 1360 is technically important enough that the bulls ought to mount a late day charge to get back up there.

I agree BachNut, I think it's very unlikely that there will be no rebound today.

Excellent Suspicion Mr. BachNut! and Excellent call about the big move today mentioned yesterday,Uempel . Don't let the head get full though!
I am not trading, but Great observations and TA analysis. Keep up Good work All!

[Cobra]

another volume surge, let's see. cannot believe the market has yet another reversal day...

[Petsamo]

I said we were gonna end unfavorably today. I guess I'm gonna be proven wrong.

[MrMiyagi]

I said we were gonna end unfavorably today. I guess I'm gonna be proven wrong.

Not over yet Mr Camouflage..

[Cobra]

I think this is an exhaustion bar. now you understand why I said bears need pray. Who laughed at me at that time? Kidding.

[Cobra]

wow, bulls back.

[BullBear52x]

Thanks Cobra and everyone, GLTA

TA note: I am selling the rip so.....I will kneel down tonight and make peace with god.