06/19/2012 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks!

If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday: http://stockcharts.com/public/1684859, thanks!


Gap up above yesterday's high so the gap might not be filled.

Global ES is at a key time, the 2nd test of the previous high, so, if it's simply consolidating today, then it's OK, otherwise if it tries to break through then it must be in a decisive fashion, no failures allowed here.

[CognitiveDissonance]

AUDJPY is breaking through but I don’t think it will stay. Very likely it will retrace back down toward 78.37, which is when we’ll get the pullback.

http://chart.ly/e7d52be

http://chart.ly/lji3sxv

[champix]

Crude on fire ...

[cougar]

GM!
After a technical stop at 7/8, SPY has the mission to melt up, into the bernank's WORD, tomorrow...
Target ~ 137 zone...or, for precission freaks 136.91(top of octave)

[cougar]

AMZN: also after a technical stop, it might climb another notch. First target ~227.8...then ~234.2 for a DT

[Cobra]

the open.

[uempel]

SPX now at 1353 - this is the DMA 55, Rubicon for the bullish/bearish scenario. I drew this chart early morning, shows the importance of tomorrow's FOMC:

[Mr. BachNut]

SPX now at 1353 - this is the DMA 55, Rubicon for the bullish/bearish scenario. I drew this chart early morning, shows the importance of tomorrow's FOMC:

Wednes.png

All four of those signals were reversals...

[Petsamo]

The DAX isn't far from busting yesterday's high

[SB73]

Chiosc high on the 60 min...took a counter trend trade looking for 6 to 8 points

[TWT]

DAX Future: It looks reasonable that price is unfolding a Double ZZ

[Al_Dente]

1min internals
Nyadv >2100

[rc1269]

anybody still not believe that folks aren't selling ahead of FOMC? trend looks pretty clear to me

i still read too many "but"s. we're breaking out, "but we're going to pull back soon." we're hitting resistance. we're overextended. all tells me we're just going higher.

why can't we just go up and never look back? we've done it over and over the last few years, so not sure why this should be any different. just my two cents.

[TraderJoe]

GM to all.
Like yesterday around this time, mining stocks and NUGT are starting to move up..

[ClarkW]

NOT A RECOMMENDATION, JUST AN OBSERVATION. Will monitor for possible reversal.

Possible Bearish Gartley for EEM on the 60 min. Range is just overhead: $39.70-39.89

Also ChiOsc is coming off extreme high where 8 of last 10 times it was above $10m it sold off, marking short-term high

[uempel]

SPX now at 1353 - this is the DMA 55, Rubicon for the bullish/bearish scenario. I drew this chart early morning, shows the importance of tomorrow's FOMC:

Wednes.png

All four of those signals were reversals...

Yeah BachNut, my favorite scenario is a bullish move today or tomorrow, up to 1360/1370, followed by a reversal tomorrow afternoon. But the bullish percentages look strong, so does momentum. I don't yet have a trading strategy which makes sense. I own a minor bullish position, that's all.

[uempel]

DAX Future: It looks reasonable tha price is unfolding a Double ZZ

Don't know if anybody here trades DAX futures at eurex, but I've got a signal here for 10:32 am, and presumably it's a short. As to DAX - all of you guys who don't like SPX, DAX is very rewarding: vola about 60% higher than SPX.

[Mr. BachNut]

Long with tightened stop.
Technicals continue to improve.
I've got an overbought MO, and this is the third day with that condition.
Tomorrow at the open is the expiration of the June VIX Future. So, after that is settled, things can change.
I don't know what will happen, but seems like a correction may be waiting in the weeds.
I think a mild one that clears overbought conditions could turn into a dip that gets bought, but we shall see.

[Cobra]

this is at least 2 legged up.

[SB73]

Chiosc high on the 60 min...took a counter trend trade looking for 6 to 8 points

I was wrong or early or both...no need to fight the trend right now...lesson learned