05/25/2012 Live Update

[uempel]

Market neutral.
I think I'll go play golf today.
Volume should be light this afternoon, and the jackals will do what they want with the market.
As Euempel has some ellipses suggesting May 31 could be a mover, I am looking forward to next week.

Yes BachNut, great idea. You go to the golf course and I'll climb some mountain. And whoever wants to stay glued to the screen can wait and see if SPX falls out of the black channel

For those of you who don't know these kind of grids: notice how the price tends to stay in one on the rhomboids - and then suddenly jumps into the next rhomboid (and stays there). This grid worked perfectly, only two bulltraps last September.

The concept of grids goes back to Gann, but his grids had the angles fixed at 30 or 45 degrees. The grid here is not traditional Gann. And I don't show the horizontals, Gann always set horizontals between the intersections.

On days like this it's fun to play around at stockcharts - time to discover new ways to track/predict the market moves

[Cobra]

aapl is bearish biased as I see triangle here. SPY, please wait for the double top.

[fehro]

triangle? clean on the 60m, messy on the 15m

[fehro]

15m triangle

[Cobra]

FB could be a bear flag here.

[Al_Dente]

Testing
......
[edit: okay i screwed that one up
........ more later]

[Al_Dente]

Uempel:
board is sooooooooooooooooooo boring when u r gone
are u back?

[SWalsh]

Interesting comments from NY Fed Chairman William Dudley. QE3 is not on the table now unless things turn bad quickly.

SPX looks like a triangle (my alternate thought yesterday) and likely wave C up. That takes us to Tues/Wed to complete.

http://www.calculatedriskblog.com/2012/ ... orner.html
[in part]

[T]oday's comments from New York Federal Reserve President William Dudley [are interesting]. From the Wall Street Journal:

Expectations for U.S. economic growth, while “pretty disappointing” at around 2.4%, is sufficient to keep the central bank from easing monetary policy, Federal Reserve Bank of New York President William Dudley said.
“My view is that, if we continue to see improvement in the economy, in terms of using up the slack in available resources, then I think it’s hard to argue that we absolutely must do something more in terms of the monetary policy front,” Dudley said in an interview with CNBC, aired Thursday.

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They still think printing money is going to fix systemic problems.

[MrMiyagi]

Any p-bar today?

Not yet.

[ClarkW]

Out of DUST for a quick, small loss.

[Cobra]

OK, triangle, now the bias is up.

[MrMiyagi]

OK, triangle, now the bias is up.

SPX 1500!!

[cougar]

Is it about DUST time?

Yes...but very carefully...

GLD and DUSt got coherent signals simultaneously...
Sold @ 51.44...not great....

Here: BUY for DUST and SELL for GLD...but the trade was short-lived.
Have a nice long weekend!

[fehro]

highly speculative... month end window dressing? pop out of triangle and form a bearish rising wedge to 1340 resistance/neckline and upper band of the grey downward channel. too early to tell... but looks nice.

[victorm]

OK, triangle, now the bias is up.

SPX 1500!!

maybe, but, looks like we should come closer to 1300 first...

[Cobra]

bulls looking really good on the 15 min chart.

[Al_Dente]

AD still says chop
Blue circles just remind what happened on our last chop day
Dollar is not bull spy

[Mr. T]

OK, triangle, now the bias is up.

SPX 1500!!

SPX 4500!!

Let's go for the gold (pun and no pun intended)

[Cobra]

testing triangle top, wait...

[MrMiyagi]

testing triangle top, wait...

ah shit.. CANCEL CHRISTMAS!