04/19/2012 Live Update

[TraderGirl]

spx 1374.75 is the line in the sand....must hold to get a rally next week....

I've got breaks on the daily and monthly, let's see where SPX closes.

Astro-wise tomorrow is even more bearish than today...

[Cobra]

well, now I cannot say it's not a valid breakout anymore. I don't believe 100% target though.

Theoretically, if it gets there then what would the next direction be based on?

gets there, then a bear flag, then more down.

[Al_Dente]

decent gap support and trendline support
breaking below that would be a nice victory for bears
[what? double check... it just broke b4 i could get this posted????]

[BullBear52x]

http://www.youtube.com/watch?v=qzTZ76vhnKk

[TraderGirl]

spx.. TSI has been a pretty good intra-day indicator...broke support, then backtested, then kept falling...

[Cobra]

volume surge, biggest bar, so could be a rebound here, then we'll see, more like more down ahead though.

[KENA]

We broke the up trend line from Apr. 10 at 1375..1360 now in the picture.

[uempel]

Update, and check the signal due tomorrow 11.30 am

7.png

Are you talking up or dn

No idea, but I've go a stronger signal today at the close/tomorrow at the opening.

If market action in the hours/minutes prior to signal is bearish the signal is mostly bullish and vice versa. But it's never for sure, I'd say 70%... And if price action before the signal is flat it's difficult to play the signals, if I play those signals I tend to go with the general short term momentum, i.e. the daily momentum.

[Kato]

Breakdown of bear flag. Target 1330.

[Cobra]

looks like the rebound is coming here.

[alphahorn]

So far so good with the count I posted earlier today. drop right on schedule

[ZimZeb]

Quite interesting ZimZeb!

Thank you Sensai

I have no personal interest in promoting their material. Just heard a talk and was impressed.

Likewise with THE CRANE!

Thanks for your posts!

[Cobra]

normal pattern.

[SWalsh]

not a valid break down. this is just to let you know the consequences if indeed break down.

Consequences could be a lot worse. This looks like that last push up was a failed 5th and that means a hard retracement past where the entire wave started from:

[MrMiyagi]

Good call Cobra.

[TraderGirl]

This could be a backtest of the channel we just broke out of...in the case we head lower, 1365 could provide support...

[Al_Dente]

http://www.youtube.com/watch?v=eXHlALI- ... re=related

[TraderGirl]

Hmmm.... check this out...ndx potential inverse H&S...

[tomsky]

The back and forth annoyed me and didn't payed attention last days to a bigger time frame and missed this move. The overlapped up trend was corrective and labeled as wave 4. Now lets see were 5 stops, if can make a lower low or not. In later case we can expect a correction (up) to a new high. but its a long walk till then.
Fibo projection in the chart is for wave length considering 1 (sometimes 5ers are equal to 1 waves, sometimes bigger).
Please use this with caution, TWT has a different count and i trust him over me

[Cobra]

so far fits for normal pattern.