04/26/2012 Live Update

[Petsamo]

I don't want to spoil the bulls fun but the Transports and banks are not buying todays hype.With out them the mkt may go dn.Lets see if this housing blip will pull them up.I don't think so.Wait and see.

good housing number and the IYR is red? doesn't make sense. Sell the rip?

Jobless claims and the Chicago Fed gave bad numbers

[uempel]

T-Time is about 11:30 on a 10 min chart, but using the hourly is more reliable which puts that at 12-1 PM. This has nailed a good number of turns in the last few weeks. We also have the possibility that we are finishing C or a correction and that warm and fuzzy AAPL feeling does not an entire market make:

SWalsh, I've got 11.40 am. And a note for our friend BachNut: finally a signal that doesn't interrupt your lunch schedule, Mrs. BachNut will be happy to see her husband on time

[TWT]

EURUSD: We shall know soon if the Ending Diagonal is ok

[btran874]

Failed or perhaps not yet.

[stucap]

Here comes the rumor mill to drive things higher....

Douglas Kass ‏ @DougKass
FROM BTIG: Chatter EU to relax deficit targets as austerity is killing member states.

[stucap]

Can I get a little double top? Or a witness. Either would work.

[stucap]

Starting to look more like a triangle now. Bulls in control.

[Cobra]

pullback as I said, then rebound but failed to make a new high then pullback again, so the bias is still down. let's see.

[TWT]

SPX: wedgy looking pattern

[stucap]

SPX: wedgy looking pattern

wedges now break to the upside -- see: aapl (ignore the past two weeks though)

[traderessentials]

Now looks like SPY forming ascending triangle on 5 min chart

[TraderGirl]

dji..up against slight resistance here

[KENA]

Welllll..139.44 held again..How many times must the computers keep trying..This gets boreing..Time to work out.

[uempel]

Should you be interested in ellipses - here some practical aspects. For the theory you'll have to check Newton's mechnanical laws - they give TA systems such as ellipses, channels, Ts, Fibs, Andrews Forks and so forth their base....

[TWT]

SPX: wedgy looking pattern

wedges now break to the upside -- see: aapl (ignore the past two weeks though)

Bulkowski:

"The ending diagonal is a special type of motive wave that occurs primarily in the wave 5 position when price has moved too far and too fast. I like to think of it as a rising or falling consolidation. Some ending diagonal triangles appear in the C wave of an ABC correction, but that configuration is rare. In all cases, the ending diagonal terminates the move of larger patterns. Diagonal triangles substitute for impulse waves."

[Cobra]

still believe the bias is down. simply too much overlap on this way up.

[KENA]

Should you be interested in ellipses - here some practical aspects. For the theory you'll have to check Newton's mechnanical laws - they give TA systems such as ellipses, channels, Ts, Fibs, Andrews Forks and so forth their base....

e.png

Am I assuming right that this up move to the edge of the ellipse now has heavy res.???

[MrMiyagi]

I don't want to spoil the bulls fun but the Transports and banks are not buying todays hype.With out them the mkt may go dn.Lets see if this housing blip will pull them up.I don't think so.Wait and see.

UPS earnings miss related? UPS down 3.24%.

[TraderGirl]

1 minute of DJI, momentum decreasing...

[uempel]

Should you be interested in ellipses - here some practical aspects. For the theory you'll have to check Newton's mechnanical laws - they give TA systems such as ellipses, channels, Ts, Fibs, Andrews Forks and so forth their base....

e.png

SPX wants to go up, but somebody is selling at resistance. Cobra, you?