07/05/2012 Live Update

[Cobra]

overlap, not ok now, wait.

[CognitiveDissonance]

overlap, not ok now, wait.

Maybe the bears found their missing leg?

[Al_Dente]

Here’s a visual on the net advancing issues that were trying to take us to highs
(purple circle)
oy

[MrMiyagi]

POWER HOUR kiddies....

[Cobra]

support area, hopefully a rebound of some kind here first.

[Cobra]

weak rebound, bulls need pickup strength here, no failure allowed because it could be read as failed on the 2nd attempt to make a new high.

[MrMiyagi]

Wow.. it's like a Mexican Standoff here...

[SWalsh]

I just found the logic behind the post to be bizarre.

Then I join the ranks of many visionaries who spoke above the heads of the little people...

[Al_Dente]

heikin 60m
Comparing the vertical lift off the 4 June bottom to today (purple boxes)
Vertical trendline is too steep, it’s difficult to sustain more vertical without a breather,
even a horizontal breather or whipsaws would help alleviate the vertical stress, no?
(nonetheless )

[EvilTrader]

small poll among active forum traders :

Whos betting we will have a large price range and very possible go down big tomorrow ? ( short-term only )

I vote yes, based on many indicators and NYMO.

[SWalsh]

overlap, not ok now, wait.

Maybe the bears found their missing leg?

ROTFLMAO!

[OverUnder]

Git our yer umbrellas.

[SWalsh]

small poll among active forum traders :

Whos betting we will have a large price range and very possible go down big tomorrow ? ( short-term only )

I vote yes, based on many indicators and NYMO.

I can see where this was a corrective move up and that it could have topped today. I see nothing bullish about a clear A-B-C higher because looking back 2 years, every one of them lasted a few days to 2 weeks and then saw the low it was built from again.

[OverUnder]

If we close toward the lower end of the range today rather than in the middle yes.

small poll among active forum traders :

Whos betting we will have a large price range and very possible go down big tomorrow ? ( short-term only )

I vote yes, based on many indicators and NYMO.

[seeyou]

cobra .. aapl a close over 610 gives more upside ?

[Al_Dente]

Testing vwap again
She held vwap at 12:40ET
Internals say she won’t hold this time
(unless dammmmm bears start covering )

[Cobra]

next support and volume surge, wait.

[Mr. T]

overlap, not ok now, wait.

Maybe the bears found their missing leg?

ROTFLMAO!

No, the bulls just figured out they have a peg-leg.....

[MrMiyagi]

Whos betting we will have a large price range and very possible go down big tomorrow ? ( short-term only )
I vote yes, based on many indicators and NYMO.

NYMO is at a 3 year high, had not passed 100 in that time.
If it is going to "reset", it normally (if there is a normal left) would go to around the 50 area or so, maybe lower.

There's a lot of Dojis floating around today.

[TraderGirl]

Cobra, what do you think of Alcoa's chart, they report on Monday....