09/21/2012 Live Update

[TradingJackal]

Did any of you see Daneric's count on AAPL...it could be in an ending wave 5....I am no expert but looked at the count and it looks legit....

http://danericselliottwaves.blogspot.co ... -2012.html

Danno is legit and so are his counts. More legit than anyone I know. But his counts are cursed I am not into the mumbo jumbo but damn, the guy doesn't get a break.

PS: I am glad he does not get a break or my bourjois existence would be threatened. I love my picket fence

[EvilTrader]

COBRA

retest of highs failed in your analysis ?

More likely down or sideways consolidation than up from here ?

I mean the Evil plan for next week, not intraday, of course.


thanks

[Cobra]

consolidation, so still bearish biased.

[Me XMan]

Uh oooh...

consolidation, so still bearish biased.

[Cobra]

COBRA

retest of highs failed in your analysis ?

More likely down or sideways consolidation than up from here ?

I mean the Evil plan for next week, not intraday, of course.


thanks

Officially SPX needs break yesterday's low to confirm the trend change. I cannot be more specific about this anymore, sorry.

[Jack12]

Due to various constraints and restraints, High unemployment and higher wages it shal now be refered to as,
THE POWER HALF HOUR

[Cobra]

OK, let me a little bit more specific today, sorry members.

I don't read it as a failed test on the previous high yet because the price action looks like a bull flag as of now. so officially only break below yesterday's low bears can finally see some hopes but still this is just a short-term top.

Yes, this is a few rare cases that you need bet your luck a little if you don't want to wait for the breakdown for the bearish confirmation. The good news for bears is, we constantly had bearish Monday recently and statistically the next week is bearish.

[Xian]

Due to various constraints and restraints, High unemployment and higher wages it shal now be refered to as,
THE POWER HALF HOUR

Bansky, right?

[Cobra]

another triangle so still bias is down.

[TradingJackal]

If we don't turn up now, my momentum indicators become very corrective for this last half hour. We will then need a stick save. Call buyers getting the shave today?

[Cobra]

please before the weekend, take a little time to vote for me, thanks. http://stockcharts.com/public/1684859/tenpp

[MrMiyagi]

As I posted earlier today, TRAN is well below the BBand, if it rebounds Monday or Tuesday then SPX will keep going higher; 1480 not out of the question.

Otherwise, we have a serious problem that no Power Half-or-Full Hour will cure!

[Al_Dente]

AAPL low on day

[Cobra]

break down as expected. here's the target.

[Me XMan]

Looking for stick save here

break down as expected. here's the target.

[TraderGirl]

Hi TraderGirl

Can you look at XIV? do you see more room for upside on this? Thx.

Well, if you look at the VIX, you will see we don't have much room on the downside before we hit a major support that has timed tops in the market.

As you can see on the chart the S&P and XIV don't always trade hand in hand, one sometime outperforms the other underperforms.

Personally, for me, the better trade IMHO is to take the other side of the trade....short XIV on a bounce up...possibly Monday....hold for a short period as if you are trading options...take your profit...

But that is just my opinion....
Edit: btw, the MACD below is for the VIX chart above....

[TradingJackal]

TRIN not as excited?

[Cobra]

12 min to close, not sure if it'd reach target anymore.

[dr659]

gap Closed?

[Jupiter]

TG,

You posted VIX chart instead of XIV.