05/22/2012 Live Update

[Cobra]

I'm not happy with goog, beware 100% MM target: http://stockcharts.com/public/1684859/c ... /265018963;

[TraderGirl]

UVXY not making me want to go long....

[snakehead]

Miyagi: What is the exact value of that p-bar? 23.50?

23.41$

You people are placing too much significance on pbars. Sigh.

We know it is not something more than "good to know".

Actually, in the last month or so, your p-bars have worked on many, many occasions. I would not be too quick to downplay the importance. Before Miyagi posted the FB p-bar, I had already come up with that same exact number on a potential pull-back after a 50-60% retrace...to potentially close the gap at $38 (if that should happen)....

Also, my personal theory about P-bars is that they are the result of HFT 'pinging' --- ie.e. a form of "sonar" if you will, searching for the next "mega-" bid. The P-bar going down to 23.41 is telling me that there is a massive multi-million share bid there and that all bids above that are in the 10s of thousands at most. IMHO.

[Mr. T]

I think the most important chart is UUP.

Double top attempt?

[snakehead]

UVXY not making me want to go long....

<< not making me want to go long ...>>
Long UVXY or long the market ?

[snakehead]

I think the most important chart is UUP.

Double top attempt?

Somebody mentioned the possibiltiy of Ending Diagonal on the EUR/USD. I'd keep an eye on that!!

[TraderGirl]

UVXY not making me want to go long....

<< not making me want to go long ...>>
Long UVXY or long the market ?

the market....

[TraderGirl]

Here is XIV....

[Al_Dente]

Here is XIV....

and the $VIX starts bolinger compression 5min

[Unique]

Also, my personal theory about P-bars is that they are the result of HFT 'pinging' --- ie.e. a form of "sonar" if you will, searching for the next "mega-" bid. The P-bar going down to 23.41 is telling me that there is a massive multi-million share bid there and that all bids above that are in the 10s of thousands at most. IMHO.

Read nanex, they try to explain pbars. Arbitrary bids and cancellations within nanoseconds.

[Cobra]

not looking good, the 3rd try on the downside might break it.

[TraderGirl]

a break below descending triangle could get a measured move to Miyagi's p-bar level....

[cougar]

IWM: "When an intraday DESCENDING Harmonic Fan works that well, that cannot be bullish!" says Volpinacci

=======

...while I was uploading it, it dropped lower!

[CognitiveDissonance]

IWM: "When an intraday DESCENDING Harmonic Fan works that well, that cannot be bullish!" says Volpinacci

=======

...while I was uploading it, it dropped lower!

I gotta learn how to draw those

[TraderGirl]

update...

[Cobra]

dark cloud cover at resistance is even worse than the black bar, aapl no good: http://stockcharts.com/public/1684859/c ... /231686385

[snakehead]

UVXY not making me want to go long....

<< not making me want to go long ...>>
Long UVXY or long the market ?

the market....

I'm long UVXY !!!!

[Al_Dente]

bots are selling this

[Cobra]

double top or C&H target. too bad it's 3:30, I don't take 3 o'clock trade generally.

[Cobra]

volume surge + biggest bar (the previous bar) so might rebound here then we'll see.