10/04/2012 Live Update

[uempel]

My best guess: SPX closes up at 1370, then a move tomorrow morning, counter movement Monday afternoon

Hi Uemple..That is quite a prediction and is possible..Thanks for the info.

All I have are several ellipses showing resistance at 1471/72. Suggests that SPX might want to go up there today (or tomorrow)

[shaca]

how can the market stay green with this up volume?
it must be really manipulated to close positive, today this market is not pushing up

[Mr. BachNut]

Market Neutral.
Short got stopped out on the break of Monday's high for small loss.
Looking to reposition but need to see how things unfold a bit.

A question at the end of last week was whether the softness in the market was primarily quarter end stuff.
While a number of technical internals have not been encouraging this week, we have been seeing higher closes and higher lows, which is bullish and not consistent with a downtrend.
This morning's action blew through the declining tops line. The rising bottoms line looks good.
So, given the lack of follow through post quarter-end, risk management wins the day.

It is possible this is a last squeeze and gasp up before resuming down.
My McClellan reading this morning is just reaching zero from solidly negative days prior.
It is common for a counter trend rally to get up to the zero neighborhood and reverse.
However, this is the charge back to the highs. The action ahead has implications.
Bulls need to keep this moving. So, I expect they well.

My composite technical trend signal, which is price sensitive, may turn up today.
My summation index signal, which is advance decline sensitive, remains down.

[TraderGirl]

Market Neutral. See uempel graphic below.

Mr. BachNut, the long term weekly with the Andrews is not foolproof. It's a weekly and I can draw the Andrews differently by disregarding the candle wicks. This version shows resistance up at 1500....

The attachment 35.png is no longer available

there is also a channel on SPX with resistance somewhere near yours around 1497ish....

[Me XMan]

Ride the bus people! Don't let it run over you.

[Al_Dente]

PAGE HARAPA

[TraderGirl]

DJI has a channel as well, and it hit resistance at that same channel...

I guess it busts through at some point to test the highs of 2007.

[TraderGirl]

DJI has a channel as well, and it hit resistance at that same channel...

I guess it busts through at some point to test the highs of 2007.

That resistance is now around 13,640...

[uempel]

Inverse H&S?

[Harapa]

PAGE HARAPA

Holding Long.
Enjoying how Lion exhausts the Zebra (who actually can run faster than the lion) before enjoying the feast!

[CH37]

My best guess: SPX closes up at 1370, then a move tomorrow morning, counter movement Monday afternoon

Excuse me, did you mean 1370 or 1470 ?

[ClarkW]

Still monitoring NATGAS but without a position. Will GASX honor the trendlines or is it a h&s? Time will tell. Anyone playing with $NATGAS?

[victorm]

My best guess: SPX closes up at 1370, then a move tomorrow morning, counter movement Monday afternoon

Excuse me, did you mean 1370 or 1470 ?

that's right ... 1370

[Cobra]

rebound appears weak SO FAR, wait.

[KeiZai]

euro and russell rocking

[Al_Dente]

PAGE HARAPA

Holding Long.
Enjoying how Lion exhausts the Zebra (who actually can run faster than the lion) before enjoying the feast!

I have agree long swing since yest open
[oooo now sqz ]

[Al_Dente]

HARAPA
The bottom 2 panels are based on yr macd and cci
They refer to the INVERTED VIX
I still can’t figure out if I really need them

[Harapa]

HARAPA
The bottom 2 panels are based on yr macd and cci
They refer to the INVERTED VIX
I still can’t figure out if I really need them

The discovery of EMA cross made them redundant.
Gap Up prediction (posted on subscriber's site) materialized

[Jack12]

My best guess: SPX closes up at 1370, then a move tomorrow morning, counter movement Monday afternoon

Hi Uemple..That is quite a prediction and is possible..Thanks for the info.

the lower high suggests this is a B,2 or a 4. I see it as a B.
A=C or 0.76 or 0.9 of A

[Cobra]

I see this as revisit the morning high, so no failure allowed for bulls.