05/14/2012 Live Update

[SWalsh]

Channel break would be very bearish IMHO

The absence of the public is giving us really crappy moves (wave-wise)thanks to these machines and especially on a option expiration on Friday, else this impulse move would have been more clear.

An extremely bearish complex correction is my highest probability at this point in time. If so, when you toss in some moving averages crossing, if they try to juice this I would think it's going to meet institutional selling.

An individual on John Batchelor's show last night stated there is concern about Bear Sterns....uh....I mean JPM being the tip of the iceberg and the mkt being only at these levels due to Bernanke facilitating the rally.

He must be reading my postings.

[MrMiyagi]

SPX 1500?

[Petsamo]

My XME & FCX are refusing to dump, for now.

[fehro]

trendlines

[fehro]

longer term lines

[Petsamo]

FCX is calling for shorts

[PLUNGE]

Quantifiable Edges: "We're in uncharted territory".

http://quantifiableedges.blogspot.com/

[KeiZai]

Channel break would be very bearish IMHO

The absence of the public is giving us really crappy moves (wave-wise)thanks to these machines and especially on a option expiration on Friday, else this impulse move would have been more clear.

An extremely bearish complex correction is my highest probability at this point in time. If so, when you toss in some moving averages crossing, if they try to juice this I would think it's going to meet institutional selling.

An individual on John Batchelor's show last night stated there is concern about Bear Sterns....uh....I mean JPM being the tip of the iceberg and the mkt being only at these levels due to Bernanke facilitating the rally.

He must be reading my postings.

"An extremely bearish complex correction is my highest probability at this point in time."

You mean this one? (with the macro enviroment probability of these waves is more than likely IMHO), Im not betting on it YET, but as a traders we have to project all possibilities My personal opinion is that we have seen TOP for longer time period (few years)

[Petsamo]

I sold my own XME.

That's the signal for you guys to go long XME.

[ronrico]

we are 1/2 way back on the YEAR! how often could you buy that this year?
rallies have been starting around europe close 10 to 11 am

[gappy]

If fiscal/political reality is setting in here, I better have some 1280 dry powder.

[Me XMan]

Smiling all the way to the bank

[KENA]

The liquidity had a dn tick last Fri but is still in the lower quadrant 2..If liquidity drops below the expansion line this dn move will continue..Seems everyone is planning for the big up move any time now..If and if again the liquidity continues to fall and goes below the expansion line the mkt will continue dn..When to many think the mkt is going up it just may not happen.So lets wait and see.

(chart by stock timing)

[Me XMan]

Uncharted ??? History repeats itself.
Check out the rise of fall of SP500 within QE's.
When SPX falling to 1150, Benny will come out with another QE.
Guaranty!

Quantifiable Edges: "We're in uncharted territory".

http://quantifiableedges.blogspot.com/

[uempel]

Following up on Kena's chart: 10 min ago tradertalk on CNBC suggested that some traders are waiting for 1260 to build up bullish positions. I posted this chart on Cobra's blog yesterday, note that a dip down to 1260 would not endanger the bullish scenario...

[ClarkW]

Earlier this morning Steve Grasso retweeted this: "If market doesn't revisit 1257, would be the first time in 33 years market doesn't return to opening day level during the year."

[DRL]

Smiling all the way to the bank

Is there a liquor store on the way?

[TradingJackal]

Looks like we are into Europe's Power Hour.

[soku]

spx to 1700 by the end of 2012.
of course. for sure. no doubt about it


well it is contingent upon the followings:
1. QE n
2. Greek mythology
...
101. es 1330 has to hold.
102. es needs to bounce back to high 1340s. 1350 is pretty hard at this moment so far i can tell.

[MrMiyagi]

p-bar SPY 135.60$.