10/02/2012 Live Update

[uempel]

TraderLady, can I have a look at that chart - pleeeaaase...

This market should dip a bit, should correct. But it has not corrected properly since breaking above the 1440 level prior to September 14. Shows that it might be willing to shoot a higher. I posted this chart at the opening today, check that black support line.

[joe-gamma]

The lawsuit on JPM is being ignored

why would anyone expect any material impact for financl misdeeds? has any administration Truly Punished any thiefs? Excepting wacko in Iowa and Madof, who is in jail and what firm's have had huge Punitive fines ?

[essessme]

Not sure what's holding the market up

[MrMiyagi]

Any new SPY p-bars?

Nothing on any of the major index ETFs.

[Al_Dente]

[Petsamo]

Da bears are making a run for the exits

[uempel]

Not sure what's holding the market up

I saw statistics last weekend, way too many shorts out there.

[ClarkW]

UNG appears to be breaking UP. NO position just monitoring...

[fehro]

Not sure what's holding the market up

I saw statistics last weekend, way too many shorts out there.

Here's another one

http://www.ritholtz.com/blog/2012/10/se ... arishness/

[TraderGirl]

TraderLady, can I have a look at that chart - pleeeaaase...

This market should dip a bit, should correct. But it has not corrected properly since breaking above the 1440 level prior to September 14. Shows that it might be willing to shoot a higher. I posted this chart at the opening today, check that black support line.

The attachment 102.png is no longer available

My chart does not give the same support levels when I draw the same line....but I can see it on your chart

Both SPX and XIV are attempting to hold a support level, but tomorrow, my chart says down....maybe it's wrong...but it's been right all week...

See??....eod bounce...bull fakeout....?

[BullBear52x]

Sell-able in all indices, but be patience on Qs.

[BullBear52x]

pick of the day to go evil on.

[Al_Dente]

HARAPA
I don’t have swing buy yet
agree?

[Me XMan]

Da bears are making a run for the exits

[Al_Dente]

Not sure what's holding the market up

I saw statistics last weekend, way too many shorts out there.

Here's another one
http://www.ritholtz.com/blog/2012/10/se ... arishness/

thanks fehro

[BullBear52x]

evil picks

[Mr. BachNut]

Paging uempel.

I am wondering how your BPSPX Renko is looking.
Anything noteworthy on that front?
Thanks!

Mr. BachNut, not sure if this chart is much help. There are too many shorts out there and I guess that's why the market won't correct...

162.png

Thanks uempel. I think it helps explain why we haven't been dancing our way back up to the highs.
I think the market may need a particular catalyst (which may not come) to motivate a meaningful downward correction.
Perhaps Q3 earnings or some surprise from abroad.
In the mean time we get sideways correction.

[Al_Dente]

bots r selling this

[fehro]

lower red trendline?

[uempel]

Thanks TraderLady