07/10/2012 Live Update

[stucap]

1348.50 was the earlier low on the ES. Long way to travel for a double bottom? Feels like it wants to break just some idiots trying a low risk trade here??

[Claire]

Why is the $ going up so strongly? News? thanks

[ClarkW]

Did we just make the right shoulder for Materials (XLB) and Emerging Markets (EEM)?
XLB 30min.
EEM 60min.

[OverUnder]

Seriously?

[stucap]

Why is the $ going up so strongly? News? thanks

Lots of news from the Bank of England --- little signs of UK recovery + all the Barclay's LIBOR fixing issues. Euro down, Dollar up.

[EFA]

no comments, I'm watching with my mouth wildly open.

Cobra,
Do you still expect that "no matter how deep the pullback goes, GENERALLY, we should expect another push-up, likely to break above the 7/03 high" (137.51)?
Thanks!

[ronrico]

well, you know where resistance is.

Cobra you so good! bot uvxy up 8% since open

[Cobra]

I cannot believe the gap was filled this easily. generally it's 2 legged pullback, we're still on the 1st leg down.

[Claire]

are we still expecting leg 2 up or now will it be 2 legs down? Never mind - just saw your post & don't know how to delete mine.

[Mr. T]

Told ya.......

throw it into reverse and crush those muppets.
They won't know what hit them - or if it was coming or going (it was both).

[TradingJackal]

Profit taking into European close.

[fehro]

trendlines...stopped at resistance....grey channel?

[stucap]

10 day simple is support here on the SPX = 1350.92. Can I get some bearish consolidation?

[Petsamo]

SPY is at support. If we drop further, it's to bust yesterday's low. JBTFD time ?

[KENA]

For the TLT fans here is a P&F chart showing TLT getting stronger and 30 yr bonds weaker.

bw071012_wya.gif

KENA
Is this a LT dome? If so, what would the “dome theory” target be?
http://stockcharts.com/h-sc/ui?s=GDX&p= ... =269558494
thx

Been away for a little breakfast..The first part of the dome is about complete near your green line..The second phase and this would be long term would have to broaden out to follow thru for a dome,it could but you are looking at time.

[pezhead9000]

FWIW - TRIN: 10-July

[heavenskrow]

China and Euro broke long term support in the past few weeks.....that is all I have to say...

[Petsamo]

IWM close to busting yesterday's low ...

We have a bust

[Unique]

no comments, I'm watching with my mouth wildly open.

Take a look at this MAJOR resistance that I classify for ES

Close-up + zoomed out

Bots love precision

[Al_Dente]

30 min