09/14/2012 Live Update

[ClarkW]

This is probably more appropriate for the weekend forum but thought I'd post anyway. The Bullish Gartley (green on chart) played out nicely end of July. We COULD be forming a Bearish Gartley/Bat harmonic pattern. See the range on the chart.

Thanks.
So if it holds with a top 55.76? then is there a measurement to the downside from the bearish bat?

I wish I could answer that. I am learning Harmonics, don't know how to measure the amount of reversal, only the possible pivot points. There was a boardie, Cougar, who knew 100x more than me on it but he's no longer here. I won't initiate anything before the weekend.

[Me XMan]

Buying mortgage bonds from banks. Give them more money to blow up the indicies and lavish life styles. The commoners won't get much just like QE1 QE2.

I do not understand why TLT is falling after Uncle Ben said he would buy $40 billion of bonds a month to force interest rates down. Why are rates rising and TLT falling? Any thoughts?
Thank you.

[shaca]

Though I don't believe we will see the Wolfe this time, the setup finishes at 1468.41. Maybe a good place for the market to take a breather.

hi Jackal,
this is what i see, what do you think? this should be more plausible ( green line )

[StevieWonder]

I do not understand why TLT is falling after Uncle Ben said he would buy $40 billion of bonds a month to force interest rates down. Why are rates rising and TLT falling? Any thoughts?
Thank you.

Uncle Ben is trying to inflate our way out of this mess, historically great for gold, physical commodities but horrible for bonds. Thirty year US T-bonds at highest rates since early May.

[TradingJackal]

Though I don't believe we will see the Wolfe this time, the setup finishes at 1468.41. Maybe a good place for the market to take a breather.

hi Jackal,
this is what i see, what do you think? this should be more plausible ( green line )

shaca,

Ben shot the Wolfe (to the tune of I shot the sheriff) yesterday
Financials should roar now. I mean, $2 billion pumped into the market everyday, that is then leveraged to the hilt. I am blinded by the light so I can't see any bearish outcomes. KeiZei summed it up yesterday - buy every dip, every dip of the dip. I believe the only way the market will dip now is by concerted efforts of the banksters. We have our man Mr. Miyagi who seems to have tapped into their communication protocol. The p-bars are the only guidance to what the fraudsters are planning next.

[Out of Bounds]

Good morning everyone.

Lowes and HD. These stocks will be among those that benefit for next year or so. Lowe's growth has slowed somewhat because they lost their footing over the last couple of years (too much discounting and sales). They are attempting to get back to everyday low pricing and have introduced new levels of tech onto the sales floor to make shopping easier. Rumors are that the Board has given CEO Robert Niblock a limited time to turn company around. Stock may get a boost if he is replaced.

HD is giving up on China as the Chinese would rather not spend their weekends fixing up the house when there are BILLIONS of handymen available for cheap. It was only seven store but still, there was a lot of hope. CEO Frank Blake is very talented and a few yeas ago instituted a drive to clean up their stores, streamline product offerings and retrain staff. When HD languished under Bob Nardelli (Jack Welsh's GE castoff and now head of Chrysler), Lowe's took market share from them. Now the situation is reversed and HD is winning the battle.

Both are going to run nicely for several reasons
* Home improvement will rise as people with bad credit can not get new homes.
* Low interest rates will spur new building as mortgages are cheaper
* Tons of foreclosure are coming on to the market and the rate is increasing. Either demo and build new or rehab
* Both companies are increasing their offerings of "Do it for you" programs - these are services where the companies have a contractor come to the customer's home and do repairs or installations from replacing a faucet or lighting fixture to complete kitchen renovations.
* Both companies are reducing product offerings and having less variety. This will improve product flow and reduce the instances of "dead items" that collect dust on the shelf.

That's my immediate take. no editing so some sentences may not make sense - gotta run be back in hour

[Cobra]

target met. another strong day. don't tell me we'd go like this every day from now on.

[EvilTrader]

SHORT !!!!!


IF NOT NOW, WHEN ??

NEVER AGAIN ??

[Cobra]

this bull has legs, don't fight here (or ever?)

[shaca]

upvolumes:downvlumes are impressive today
but allready 69 new lows vs yesterday 78 new lows, strange

[dmeyer]

SHORT !!!!!


IF NOT NOW, WHEN ??

NEVER AGAIN ??

RSI?

SPY honey badger don't care.

[TradingJackal]

They took a breather alright Glad for something called a stop loss. So, 1468.41 bites the dust.

[BullBear52x]

The counter trend season is open.

daily and weekly are over bought, as most of us big boys/girls know dangerous to counter the trend, watching for a good sell entry next one to come should get us good 10+ points on the correction.

[Harapa]

Paging AL
I see no softening in VIXIES per EMA*9!

[BullBear52x]

this is the most aggressive sell ding ding ding

[Bman69]

just bought 125 149 puts for today at $1.11. This is total bullsh*t.

[Harapa]

The counter trend season is open.

daily and weekly are over bought, as most of us big boys/girls know dangerous to counter the trend, watching for a good sell entry next one to come should get us good 10+ points on the correction.

Per your description on your blog you use SPY:VIX but looking at the charts you posted it appear if what you are plotting is SPY minus VIX. Please clarify, if you don't mind. Also, is SPY 3 min Hiken Hashi Bar is just as good as 3 min SPY:VIX (again not sure if it is actually SPY minus VIX) HA bar?
Thanks.

[TradingJackal]

While researching the Wolfe wave, I found that markets (SPX only) obey the 127 and 161 fib extension more often than not. Also, if 127 gets blown, 161 is reached before a 'meaningful' retrace. My eyes are on 159.28 on SPY as the 161.8 extension of previous bull wave before any meaningful retrace.

[KENA]

This may not mean much now but in the past when the mkt was overextended it pulled back to the low side of the channel..Will it now or do we go to the moon first..Note the blue arrows the overextended areas.

chart by stocktiming

[Al_Dente]

Paging AL
I see no softening in VIXIES per EMA*9!

Soft but still agree from yesterday
(I changed ema9 to ema20..... but i don't use it for signal anyway ) GL2u