07/05/2012 Live Update

[Al_Dente]

ISM in 6 minutes

ISM data bad
52.1 (consensus was 53)

Thanks Al...

TG yr silver turn date was this week, no?

[Cobra]

aapl strong. the 1st pullback NORMALLY is buy. http://stockcharts.com/public/1684859/c ... /260183775;

[KeiZai]

could someone wake up russell please ? I think she is stoned

[grachu]

the pullback to the retest of 590 Before getting to your target of 609 ? or the mini intra day pullback before reaching 609 ?

[Al_Dente]

EIA Natural Gas Report due soon: 10:30 ET

EIA Petroleum Status Report soon: 11:00 ET

[Claire]

Cobra, do you still expect a higher high for the S&P? thanks

[TraderGirl]

ISM in 6 minutes

ISM data bad
52.1 (consensus was 53)

Thanks Al...

TG yr silver turn date was this week, no?

I was just typing this up -- the turn is 12-13th:

I think we may see a lot of chop on the way up... there are many "Merriman" turn periods within days of each other:

July 5-6 (Down)
July 9-11 (Up)
July 12-13 (Big One) (Down) (includes PM's)

There is a Turn window of 13-16th that is a 3star turn just as the June 26-28th window was a 3star turn and you can see that we were up 30 SPX points in one day....

[TraderGirl]

ISM in 6 minutes

ISM data bad
52.1 (consensus was 53)

Thanks Al...

TG yr silver turn date was this week, no?

I was just typing this up -- the turn is 12-13th:

I think we may see a lot of chop on the way up... there are many "Merriman" turn periods within days of each other:

July 5-6 (Down)
July 9-11 (Up)
July 12-13 (Big One) (Down) (includes PM's)

There is a Turn window of 13-16th that is a 3star turn just as the June 26-28th window was a 3star turn and you can see that we were up 30 SPX points in one day....

Remember that all dates are +/- 3-4 days, so charts are showing we are up 12th, and maybe on the 13th we start to see a topping pattern?? This is just speculation....

[Claire]

cobra - is leg one over?

[KeiZai]

Downside is done not much to see here, will resell friday-monday "rally"

[uempel]

I got it all wrong with SPX today, I expected a bullish move
Problem might be DAX, which showed a state of the art short term top a few minutes prior to ECB announcement and fell heavily on the news. Great trade to the downside

[Cobra]

strong rebound, should be 2 legged then. whether there's another down leg let's wait and see.

[KeiZai]

4 Wave is done IMO now the 5th

[coolcat]

Wow, Cobra, AAPl 609 just like your chart said. Excellent

[Cobra]

aapl fulfilled the target. and there's more. http://stockcharts.com/public/1684859/c ... /260183775;

[ClarkW]

4 Wave is done IMO now the 5th

SP-5w.png

If you wouldn't mind elaborating a little on that KeiZai. Wave 5 = down from here is my assumption but don't know ANYTHING about EW.

Thanks!

[Cobra]

Wow, Cobra, AAPl 609 just like your chart said. Excellent

Thanks and welcome aboard.

Looks like I need adjust my AAPL mechanical trading system ASAP.

[Al_Dente]

[ClarkW]

A different look at the Bearish Gartley on APC (hourly). Strong move so far.

[KeiZai]

4 Wave is done IMO now the 5th

The attachment SP-5w.png is no longer available

If you wouldn't mind elaborating a little on that KeiZai. Wave 5 = down from here is my assumption but don't know ANYTHING about EW.

Thanks!

nope nope wave 5 up then down, but keep in mind I could be wrong of course

elliotWave5.gif (4.73 KiB) Viewed 3641 times

EDIT: I expect very steady up move from here and early next week big down but don´t know if we will see lower low(rather, tag of red line probably) or higher low (from 3june)