05/14/2012 Live Update

[uempel]

Sorry guys, I had not drawn the ellipse precisely (sometimes difficult with stockcharts close-ups). Signal was for 14:00....

[TraderGirl]

My only concern is XIV, looks like it needs one more move to the downside before a breakout. Unless it can break out to the upside of this pendent today...

Even if we get another move down on XIV, it doesn't necessarily mean a lower low for SPX....

[EvilTrader]

Im only afraid of :

1 - Any anoucement out of europe increasing bailout funds to to sky. Merkel already dais grmany will accept greater inflation to save the eurozone.

2 - A mega short-squeeze pushing indexes to the moon and murdering late shorts.



Too much hardcore political uncertainty right now, this is not your trading playground anymore ( IF it once was )

[MrMiyagi]

POWER HOUR feels like it will be COMA HOUR.

[uempel]

Update:

[Mr. T]

POWER HOUR feels like it will be COMA HOUR.

That's what happens when you go around kicking people in the head.

[MrMiyagi]

That's what happens when you go around kicking people in the head.

You were waiting all day for that!

[Cobra]

OK, guys, I'm back. I'm surprised bulls didn't make more efforts while I'm away, not good, now the volume surges, so hopefully a rebound of some kind, then we'll see.

[CounterTrend]

Ron Paul ending active campaign.....

[TraderGirl]

Ok, got the lower low I was looking for...lets see what happens now...we could see a rebound coming soon, if not today, tomorrow...

[Cobra]

normally the rebound shall fail, at least it's not H1 long.

[MrMiyagi]

Is that huge red volume of any concern Cobra?

[uempel]

Daily P&F ATR shows support at 1293, the traditional daily P&F points to support at 1300 (only showing ATR here)

[snakehead]

Ok, got the lower low I was looking for...lets see what happens now...we could see a rebound coming soon, if not today, tomorrow...

You said that your "line in the sand" for $vix was 21.50 ??

[Cobra]

very weak rebound so far.

[cougar]

Conditions seem set for selling on close.

[snakehead]

Wow XLF took a dump during the 15 minutes before 3:00 PM.

http://bigcharts.marketwatch.com/advcha ... &x=46&y=16

[SWalsh]

Anyone else thinking of this? It would be a running correction as in not good. Actually, hellish would be the word. The thing is that this is similar to the formation in the Flash Crash where it seemed to be a leading diagonal and was an ending one, if I recall correctly:

[snakehead]

Anyone else thinking of this? It would be a running correction as in not good. Actually, hellish would be the word. The thing is that this is similar to the formation in the Flash Crash where it seemed to be a leading diagonal and was an ending one, if I recall correctly:

As in "Nature vs. Manipulators" and 'Nature eventually always wins' ?

[nightlyhawk]

As said earlier, selling wasn't over yet. I guess dash blue line won't cross above dash red line until tomorrow.