05/30/2012 Live Update

[SWalsh]

How can SPY be above 132 right now???

This is complete and utter bull-crap.

Thank Billy Gates....he stole Steve Jobs' pancreas too!

[Mr. BachNut]

McClellan Oscillator rose consistently over several days from an oversold level to above zero yesterday. Today it reversed and looks like it will close below zero.
Could be a sign that the rebound is completing.

[Petsamo]

Can we start with 1280?

SPX 1250 coming ?

Market Owl believes we'll drop to 1260

Well, did you place your bets?

[TraderGirl]

FAS...broke one support, now lets see if the other holds...??

[EkOnkaar]

Can the BBs pinch any more? Can we YAWN any more? Damn !!!!!!!! Let's get a move here folks..enogh of "paint drying already"..)

[MrMiyagi]

McClellan Oscillator rose consistently over several days from an oversold level to above zero yesterday. Today it reversed and looks like it will close below zero.
Could be a sign that the rebound is completing.

Here's a chart I made yesterday.

[SWalsh]

Here's a chart I made yesterday.

Be sure to draw your trendlines!!!!!

Do I still look like Chaz to you? I gotsta know

[CognitiveDissonance]

Here's a chart I made yesterday.

Be sure to draw your trendlines!!!!!

Do I still look like Chaz to you? I gotsta know

If i saw you I would do my best to draw before you fired for what it's worth


Any sentiment on tomorrow? Gap up or down?

[Mr. BachNut]

McClellan Oscillator rose consistently over several days from an oversold level to above zero yesterday. Today it reversed and looks like it will close below zero.
Could be a sign that the rebound is completing.

Here's a chart I made yesterday.

Yep. Like with price charts, it is common to see two pushes (or three) to get from one place to another. Last move down, however, did not take a breather. Typically, the counter move initiates near the zero line. So, now would fit the usual area for a reversal. If we get a reversal, I would be looking for the NYMO to make a higher low down the road (Indexes could make higher or lower low), and then for the next rally to lift NYMO to higher highs and overbought territory. That said, this is just scenario dreaming at this point...

[MrMiyagi]

Do I still look like Chaz to you? I gotsta know

No.. I guess you haven't seen this one Mr Gibson?

Any sentiment on tomorrow? Gap up or down?

Perhaps a gap up based on TLT vs SPX past history.

[SWalsh]

Here's a chart I made yesterday.

Be sure to draw your trendlines!!!!!

Do I still look like Chaz to you? I gotsta know

If i saw you I would do my best to draw before you fired for what it's worth

Perhaps a squirrel shaped C4 under my feet might work. If my gun is leveled, drawing is too late.

Any sentiment on tomorrow? Gap up or down?

I could almost argue an E wave of a triangle needs to send SPY higher, but that would make ES illogical. Wave-wise, it could do a bit of a pop and drop through unchanged and start lower and trend. I am not a buyer. This mkt reminds me of the bar scene in "The Crying Game". AFTER Stephen Rae finds out "That Thing's Got Swing", they cut to the bar and it's clearly a transvestite bar. There's a litany of items for an obituary for this mkt, and a fairy tale for a new high.

Oh, and I believe in Kaiser Soze....

[CognitiveDissonance]

Here's a chart I made yesterday.

Be sure to draw your trendlines!!!!!

Do I still look like Chaz to you? I gotsta know

If i saw you I would do my best to draw before you fired for what it's worth

Perhaps a squirrel shaped C4 under my feet might work. If my gun is leveled, drawing is too late.

I know, but I knew a swat guy that drew and fired, an inch above his holster, at an EDP female that suddenly unbarricaded herself from her bathroom and started to stab him in the chest. He lived she didn't and the move is now taught at every internet ninja shooting school in US.

But I now sit behind a monitor, it's hella safer lol

[BullBear52x]

I got some update on my blog about Bearish pattern.

[xfradnex]

Daily Elders. Everything uglier except Brits, QQQ, apple, CHK and JNK. I thought JNK was the canary in the coal mine. I guess there is no gas.