08/28/2012 Live Update

[CarlosDK]

Yes ,, fehro agree with the move from 1395 to 1416 is a wave 2 up before wave 3 down to 1370 or so next ?

[CarlosDK]

The put/call ratio also suggested that big guys loading puts for a coming drop in markets.

[TraderGirl]

break out of resistance on 5 minute??

[OverUnder]

I SPY with my little eye something that begins with the letter B.

[scout_lt]

After sharp colapse yesterday, today crude oil recovered into a three wave sequence: http://blog.wavetrack.com/crude-oil/
Potentially very bearish configuration if 97.72 hold untouched

[OverUnder]

Freakout!

http://www.youtube.com/watch?v=4KUL9-eNXzQ

[Harapa]

VIXIES update:
No candy for bulls here!

[Cobra]

nothing to say, goes as planed. now key time for bulls, no failure allowed here.

[Claire]

Cobra, would a failure be if the SPY goes under 141.55? Thanks.

[Cobra]

Cobra, would a failure be if the SPY goes under 141.55? Thanks.

goes below 141.28

[agunther]

The put/call ratio also suggested that big guys loading puts for a coming drop in markets.

Or that they are successfully scaring people. I mean common, everyone and their dog now is blogging about the coming drop in equities. I know people who held puts through expiration a couple of times who are short AGAIN.
I can get onboard with a pullback, to scare even more sheep into puts.

[TraderGirl]

UVXY....bear wedge...??

[Cobra]

small double top? not good for bulls.

[CarlosDK]

I think we are on the way down to 1370 on SPX based on a 30min toppping head and shoulders pattern.

[CarlosDK]

Cobra - what is the target on SPX if we break 1395 on SPX ?

[Out of Bounds]

Three legs to 141.00? Then 1 leg up and resume down?

WILD ass guess

[KENA]

Got to leave for the rest of the day..GTTA

[sloth]

FAS...??

Target seems too large for today, duration?

There's a channel at about 98.4-98.7 for me

Definitely not today, an eventual target...my charts say up into the next big turn date of Sept 6-8th...

There are two turns this week - Weds and Thursday....there is a possibility that we turn up into thurs, then down on Friday, but then I have us up the following week 5-7th timeframe....

Then we could get a sharp pullback around that time into mid Sept...then it gets worse at the end of Sept...very bad...

Interesting, might ^OEX be in the 665-667 area mid-sept., giving a near perfect place to sell

[Cobra]

lunch time, will be back. I'm neutral now, but I think bulls need pray that this is not a double top.

[fehro]

still fighting possible channel line