07/05/2012 Live Update

[uempel]

Al, yes, agreed.

And here two signals, one points to tomorrow's opening, the other to Monday's opening - kind of logical: a correction at the opening tomorrow and a reversal Monday? Or vice versa, a strong rally tomorrow and a bearish reversal Monday? I closed all positions now and I'm happy to be in cash prior to tomorrow's numbers

[stockcycle]

The pullback might be like this. For my own trading plan (My plan today is bearish). Too sleepy now in VietNam.

[Cobra]

purely from pattern, the 2 legged pullback didn't make too much damage so the bias is still up, FOR NOW.

[fehro]

longer view, and closer view of SPX 60m

[Al_Dente]

…at the moment…
nyadv ~1300 and nydec ~1600, slight bear bias in a “choppy/range” day
that can change quickly…
1 min

[ballatines]

longer view, and closer view of SPX 60m

could it be a big bear flag?

[MrMiyagi]

RUT leading the way today, QQQ second.

[Cobra]

rebound is weak, bulls need do more.

[toglesby27]

Curious why that pattern doesn't qualify as a potential double top?

[fehro]

longer view, and closer view of SPX 60m

could it be a big bear flag?

Yes, or a bearish rising wedge?... but could morph into a upward channel.. think 1383ish is key. If we tag that, break 1330ish could see a sharp move down.

[MrMiyagi]

[Al_Dente]

Al, yes, agreed....And here two signals, one points to tomorrow's opening, the other to Monday's opening - kind of logical: a correction at the opening tomorrow and a reversal Monday? Or vice versa, a strong rally tomorrow and a bearish reversal Monday? I closed all positions now and I'm happy to be in cash prior to tomorrow's numbers

SPX2.png

Dear Mr. Uempel:
http://www.youtube.com/watch?v=cFSczLif0q4

ps your timing signals ROCK

[Cobra]

this rebound enough make an overlap area therefore bulls now have a little better chances.

[KENA]

PAGING UEMPEL re VIX
And if u do a long term lookback, VIX stayed below 18 ish for FOUR+ YEARS in the 2003-2008 bull-spy run.
Note this is long term 15 year chart, weekly.

My takeaway from Luby (and he’s the VIX “expert”) was to watch the daily VIX closing for reversal candle/s, (which is what we do anyway) and a pop in VIX for the SHORT TERM.
ps thx for BPNYA

75vixlt.png

I have also been reading that the next trip for VIX is heading dn to 12 area.

[Cobra]

100% target, $137.68 which I don't believe but Fib 61.8% target at $137.35 is still possible.

[SWalsh]

Without HFTs to run stops, we really don't move. 85% of customer orders are filled against a machine that picked it off:

[KeiZai]

Short term channel in dow

right in the middle

no man's land

[Cobra]

lunch time, will be back. bulls seem ok FOR NOW.

[TradingJackal]

Watching the triangle in EURUSD

[SWalsh]

I was just sent this chart. Everything is back to where it was in Europe.

Only this heavily manipulated market remains higher.