07/10/2012 Live Update

[TraderGirl]

NUGT nearing support on trend line and hourly TSI....

[Al_Dente]

Ned Davis Research
Treasurys v Equities
“Time for Mean Reversion”
http://screencast.com/t/hGjFg29K35cg
[but this is more for INTERMEDIATE term, NOT intraday]

ps THANKS swayne99

[Petsamo]

Someone mentioned DRYS. Anyone familiar with GNK ?

[fehro]

might get a small bounce on the red trendline.. or not

[Petsamo]

Looks like the several days' downleg will continue

[heavenskrow]

broke support, nice.

[Cobra]

very close to my init target now. you don't want to see 100% target if you're bull.

[heavenskrow]

can the hourly VIX close above resistance?

[TraderGirl]

VIX....

[Petsamo]

very close to my init target now. you don't want to see 100% target if you're bull.

I think the bulls' balls have been busted about an hour ago

[TraderGirl]

NUGT broke support, but not on TSI yet...

[ClarkW]

At this pace, XLB will hit H&S target by the market close! (Don't believe this). This is my attempt at Uempel's eclipse, although I assume he has specifics for where the points are drawn. I just eye-balled it and made one that hit multiple points. Probably just a coincidence the major declined happened to be at the end.....
Still holding SMN but NOT A RECOMMENDATION.

[Cobra]

too bad, rebound or no rebound, there might be another leg down.

[Cobra]

volume surge, hopefully a rebound of some kind here, then as I said, GENERALLY, there'd be another leg down.

[Petsamo]

If we finish at the lows, who's placing bets for a gap up ?

[Petsamo]

I can't believe X is not down big

[ballatines]

bearish engulfing? sud be the close?

[Mr. T]

If we finish at the lows, who's placing bets for a gap up ?

How about a bet on a gap down and a run for the doors?

Market is overvalued by at least 10%, and ZH has a story today about SPX 1200 is needed QE3.
If they really need 1200 for QE - they'll take it there. They HAVE to have their crack.
100 SPX points is nothing in the scheme of things, not to these guys.

[fehro]

VIX daily coming up to downtrend line...

[OverUnder]

I had heard earlier that the German supreme court was to making a ruling today, but further reading I have done since suggests it could easily take weeks. In case I posted about that here.