10/02/2012 Live Update

[L_T]

For any reversion-to-the-mean traders CAT is printing it's 9th red bar in a row on the daily charts. Can't keep going in that direction forever.

[fehro]

one gap filled. now base here and go up to green? or tag lower blue first then go up to green?

[Petsamo]

For any reversion-to-the-mean traders CAT is printing it's 9th red bar in a row on the daily charts. Can't keep going in that direction forever.

It looks like JOY's chart. You thinking of going long on CAT ?

[L_T]

For any reversion-to-the-mean traders CAT is printing it's 9th red bar in a row on the daily charts. Can't keep going in that direction forever.

It looks like JOY's chart. You thinking of going long on CAT ?

Maybe but it would be a one day only kind of thing. I don't like to play counter trend. That's a recipe for losing money.

EDIT* I don't like to **hold** counter trend. I would play a one day bounce but it's a higher risk trade than I would usually make.

[Cobra]

I'm neutral. tinted area are the target for both upside and downside.

[uempel]

SPX still struggling with 1448 which is crucial resistance on weekly, daily and the 60 min chart: check the 130 MA which is now at 1447.61

Why 130 MA on the 60 min? It's a bit like checking the 20 MA on the daily. As there are 6.5 trading hours a day, we multiply 20 with 6.5

[BullBear52x]

Bulls need to defend 144.33

[Petsamo]

For any reversion-to-the-mean traders CAT is printing it's 9th red bar in a row on the daily charts. Can't keep going in that direction forever.

It looks like JOY's chart. You thinking of going long on CAT ?

Maybe but it would be a one day only kind of thing. I don't like to play counter trend. That's a recipe for losing money.

EDIT* I don't like to **hold** counter trend. I would play a one day bounce but it's a higher risk trade than I would usually make.

IWM has a bear flag. Before going long CAT, check if IWM holds support

[Harapa]

PAGING AL
VIXIES EMA*9 BUY "Watch" ON

[Cobra]

volume surge, biggest bar, so another possible exhaustion bar, let's see any rebound here. there's a chance for a double bottom here.

[uempel]

Bulls need to defend 144.33

Hey BB52, bulls are defeated - unless SPX manages to close above the 1448 threshold

[Al_Dente]

PAGING AL
VIXIES EMA*9 BUY "Watch" ON

ok thx

[Cobra]

now the bull target could be eliminated.

[BullBear52x]

Bulls need to defend 144.33

Hey BB52, bulls are defeated - unless SPX manages to close above the 1448 threshold

I would think so too, see MACD here, bull about to give in.

[L_T]

For any reversion-to-the-mean traders CAT is printing it's 9th red bar in a row on the daily charts. Can't keep going in that direction forever.

It looks like JOY's chart. You thinking of going long on CAT ?

Maybe but it would be a one day only kind of thing. I don't like to play counter trend. That's a recipe for losing money.

EDIT* I don't like to **hold** counter trend. I would play a one day bounce but it's a higher risk trade than I would usually make.

IWM has a bear flag. Before going long CAT, check if IWM holds support

Here is some further analysis:

I expect this to test the support / fib line around 84.40 then retrace to around 86.25. After that who knows but that's the bounce I would look for.

[Petsamo]

Here is some further analysis:

If it makes you feel better, analysts give an overweight rating on CAT.

[KeiZai]

euro in squeeze, maybe silver squeeze will fire today as well USD/CHF with possible H&S

[uempel]

Bulls need to defend 144.33

Hey BB52, bulls are defeated - unless SPX manages to close above the 1448 threshold

I would think so too, see MACD here, bull about to give in.

Yeah, but I'm not betting on the outcome. Market is too quirky for me, difficult to assess what's going to happen. I guess I'm off for the day

[fehro]

well.. another little triangle within the bigger one... fwiw

[Cobra]

consolidation so the bias still is down, full target is possible.