07/11/2012 Live Update

[Petsamo]

IWM flirtin with new lows

[fehro]

or setting up for a nasty gap down... below the tiny gap at 1330.. and we will have a nice little island top. Wave 3 down begins?

if 1335ish goes, be very careful...

market seems to be avoiding/setting up for a test of that line. bulls likely want the test overnight, like at 4am so the euros can BTFD?

[stucap]

or setting up for a nasty gap down... below the tiny gap at 1330.. and we will have a nicelittle island top. Wave 3 down begins?

if 1335ish goes, be very careful...

market seems to be avoiding/setting up for a test of that line. bulls likely want the test overnight, like at 4am so the euros can BTFD?

i'm fine with that.

[TWT]

SPX: In order to confirm a corrective pullback it is needed the overlap above 1348.95

[stucap]

Any guidance, Cobra? What do you see?

[Cobra]

key time, bulls must show strength otherwise this is already 2 legged rebound now (therefore dimmed as weak).

[Al_Dente]

SPX: In order to confirm a corrective pullback it is needed the overlap above 1348.95

i missed your waves

[uempel]

I'm kind of bored, waiting for a bounce at 1335 or a break to the upside at 1349. I'll check the market in 20 min to see if the new signal makes sense. Afterwards I might take some time off until 2:00 pm (Fed minutes). Sitting on a chair and staring at the screen can be fun - but often it's hideous...

[OverUnder]

Truer words have never been spoken.

Sitting on a chair and staring at the screen can be fun - but often it's hideous...

11.png

[Al_Dente]

PAGING DREAM
U can invert almost anything (turn it upside down) by putting $ONE: in front of it, like:
$ONE:$TRIN
$ONE:$VIX
thanks

[Al_Dente]

PAGING GRACHU
how many people are in your class
Should we "ham" it up for them

ps: tell the class to put on their squeeze goggles

[57chevy]

1066 E.O.M

We are only 3 months from The Battle of Hastings.

I think that my new "I Think" system....use great battles of history. No statistical analysis.....I'm just posting based on dates. And June 4th's low was 2 days before D-Day, that was successful. Clearly a major mkt signal. I should have predicted that one.

And June 11 was a low and that's the day Mr. T's 2010 film was released. I'm telling ya, this is easy. Yep, 1066 it is.

That was a fake Mr. T.

[Cobra]

good breakout, so here's the ascending triangle text book target.

[MrMiyagi]

!!!!!!SPX 1600!!!!!!

FOMC will make sure of that.

[OverUnder]

137.50 or bust, as early Americans used to paint on the side of their wagons.

good breakout, so here's the ascending triangle text book target.

[Cobra]

QQQ and IWM are weak.

[Mr. T]

1066 E.O.M

We are only 3 months from The Battle of Hastings.

I think that my new "I Think" system....use great battles of history. No statistical analysis.....I'm just posting based on dates. And June 4th's low was 2 days before D-Day, that was successful. Clearly a major mkt signal. I should have predicted that one.

And June 11 was a low and that's the day Mr. T's 2010 film was released. I'm telling ya, this is easy. Yep, 1066 it is.

That was a fake Mr. T.

That old Foo on TV with his jibbergabber.... he ain't no "T". He ain't got no gold chains.
He's a broke T. An old T.

But from what I know, he's a very nice T, who does good things for people...... so I'll cut him some slack and make him an honorary "T".
You see there can be only one Mr. T. ---- a young T, a tough T, a strong T.
When the T gets old, he passes the chains. That's the way of Mr. T.
Someday, long from now - I'll pass the chains and become the old, broke, foo "T".
'Cept I won't be broke...... and I'll move up to platinum chains in retirement.

-T

[SWalsh]

Just how corrupt can we get? Anyone going to jail?

They used to give a secretary who bought $5,000 worth of stock because she knew a law firm and an accounting firm were at the offices daily talking about an acquisition that would raise the value. I recall it from 20 years ago and thinking that it was serious stuff to have the feds find you acted even with $5,000 on inside information. Corruption at the head of the fish makes other say, "why should I not break the law when no one gets prosecuted". Solzhenitsyn was right in his 1978 address to Harvard. We are an immoral nation hiding behind lawyers.

FBI warned Labor Department data might be leaked: report

http://www.reuters.com/article/2012/07/ ... 1N20120711
(in part)

"The apparent root cause for the issues driving this assessment is the presence of algorithmic traders in the press lockup facility," the report said.

[TraderGirl]

DJI barely hanging on to the wedge support...next level of support is 12,500ish..

SPX hasn't touched wedge support as of yet...next level of support 1334...

[Petsamo]

IWM messing with the lows again