07/19/2012 Live Update

[Al_Dente]

Existing Home Sales -4.37 M vs consensus 4.65 M
Philly Fed at -12.9 vs consensus -8.0

Earlier today: Jobless claims at 386k on consensus 365K

[OverUnder]

It's weak but it's not QE3 week, that's the prob.

[Cobra]

Existing Home Sales -4.37 M vs consensus 4.65 M
Philly Fed at -12.9 vs consensus -8.0

Earlier today: Jobless claims at 386k on consensus 365K

Well, I see them as good news, because this means QE3, doesn't it?

[Petsamo]

It's weak but it's not QE3 week, that's the prob.

SPY is sitting too high for QE3

[victorm]

Existing Home Sales -4.37 M vs consensus 4.65 M
Philly Fed at -12.9 vs consensus -8.0

Earlier today: Jobless claims at 386k on consensus 365K

Well, I see them as good news, because this means QE3, doesn't it?

1320 on SPX...

[Petsamo]

Da banks have a lower low

[Mr. BachNut]

Market Neutral.
Technicals continue to improve.

Over the last few days, I can't tell you how many times I have seen a target of around 1390 +/- posted for the S&P. This is coming from Elliott wavers, point and figure guys, chartists, analogers and other technicians.
Are any of you picking up the same thing? Isn't there some kind of technical rule that says if too many people have the same view, something different will happen?

It can only mean one thing... SPX 1500!!!!!!

[Cobra]

next support.

[Al_Dente]

Existing Home Sales -4.37 M vs consensus 4.65 M
Philly Fed at -12.9 vs consensus -8.0
Earlier today: Jobless claims at 386k on consensus 365K

Well, I see them as good news, because this means QE3, doesn't it?

Boss u said no QE3 because of politics ……..would be seen as buying votes……..not bad enough yet for QE….(?)

Nyadv dropped from 1900 to 1200 on that bad news…. oy

[kamukak]

Gonna add to longs at 1st support, its so far buy the dip. Number bad and market still holding, it should have been down at least 3 or 4 % in normal markets.

[SWalsh]

HFT on the sell side so far after jobless claim and housing:

[BullBear52x]

I'll

[Cobra]

Existing Home Sales -4.37 M vs consensus 4.65 M
Philly Fed at -12.9 vs consensus -8.0
Earlier today: Jobless claims at 386k on consensus 365K

Well, I see them as good news, because this means QE3, doesn't it?

Boss u said no QE3 because of politics ……..would be seen as buying votes……..not bad enough yet for QE….(?)

Nyadv dropped from 1900 to 1200 on that bad news…. oy

[snakehead]

HFT on the sell side so far after jobless claim and housing:

You mean the bots are selling inside of buying??

[BullBear52x]

This chart telling us some thing last night, well, after the fact but ......

[Petsamo]

FAS anyone?

[Al_Dente]

see IBM

[SWalsh]

Gonna add to longs at 1st support, its so far buy the dip. Number bad and market still holding, it should have been down at least 3 or 4 % in normal markets.

I seriously doubt those numbers should drop a market 400+ pts immediately.

As to "normal market", they don't exist anymore. The new "banks" control all movement, and likely in collusion with no regulation. If there are stops above, we'll go up. If they are below, we'll go down. They know where they are, we don't.

[jdow]

I agree. Short QQQ

It's weak but it's not QE3 week, that's the prob.

SPY is sitting too high for QE3

[BullBear52x]

FAS anyone?

I am on the the evil side, but if this support hold today, I'll be at awe, or oy