10/01/2012 Live Update

[fehro]

there is a very tiny gap from this morning .. and still haven't quite tagged the lower line.

[MrMiyagi]

Since today`s gap was filled, Benny and Bammy can gap up the market tomorrow...

[joe-gamma]

well, guess that's it for today, not a good day for bulls, so for short-term bears have the ball and attacking, bulls are on the defense. The bad news is today's action makes the calling intermediate-term much tougher which I'll explain tonight. Thanks you guys, I'll see you tomorrow.

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

Seems today might just be rebalance after quarter-end funds loading up on Apple?
thanks Cobra and all boardies today-Good luck to us humans!

[TradingJackal]

Good news and bad news. Stochastics are about to cross over from the oversold level. In a bullish market, it should turn up along with the tape rather quickly. However, today's candle was ugly for the bulls. SMA 5 is still pointing down even though the tape closed about the SMA after many days. A few more closes above SMA and it should curl up. Now is the chance for the bulls to take control of the market.

[TradingJackal]

Fib ratios point to an ABC move to the upside that finished this morning. Another bearish wave down. The target is most likely the previous low.