11/16/2012 Live Update

[Cobra]

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Small gap up so the gap might be filled.

I see Double bottom on the Global ES, so hopefully more rebound from here. However the pattern is too small to be a reliable intermediate-term bottom, so guess the rebound may just be a short-term.

[knock]

the marked resistance is set to be broken.

[Cobra]

members only update starts from here: http://www.cobrasmarketview.com/2012/11 ... ay-update/

[knock]

es 5min tiny H&S, likely will result in the gap close soon after open.

[L_T]

Stock up on your Twinkies while you can (Friday morning humor)...... (although not so humorous for the workers being let go)

Twinkies maker Hostess going out of business
Nearly 18,500 workers will lose their jobs as the company succumbs to the crippling effects of a nationwide union strike.

http://money.msn.com/top-stocks/post.as ... 59d177e676

[Cobra]

Cannot believe DAX refuse to drop but anyway, damage is done, so likely there's another down leg after this one was done.

[KeiZai]

GM

russell folks we need decisive breakout otherwise it´s just a flag

[TWT]

SPX: If today is the day then in order to increase the confidence of a potential multi day rebound that is expected to endure into next shortened Thanksgiving week we need to see a long tail in the weekly candlestick, much better if the eod is above the 50 wma=1366.85

Usually a catalyst is also needed (some good news), or maybe a short squeeze can be triggered by the PPT firing up buy programs.

The fact of the matter is that in addition to an oversold market price is approaching the 0.618 retracement at 1346.

Maybe the majority of the bears will think twice before shorting SPX at a major support zone

[TWT]

SPX: Following up with the short term bullish scenario, NOT CONFIRMED YET, although it is anyone guess where would be located the target, I expect at least a test at the 200 dma = 1382, while maybe the best case scenario for the bulls would be a kiss back at the broken October Trend Line. There is plenty of overhead resistance where bears will most likely reload short positions.

Therefore this issue will have to be assessed on a daily basis.

But I can highlight 3 numbers:

#1 = 1382, #2 = 1389 & # 3 = 1396

By no means I consider this potential bottom the end of the corrective EWP from the September high, since if the count that I am following is the correct one from the November 6 peak price should carry out a Zig Zag, hence after the oversold bounce there should be a pending wave (C) down which is expected to establish THE BOTTOM with positive divergences.

[TWT]

VXX: I am very much interested to see if the VXX Triangle Project plays out, since it could be easily aborted today by a move above 37.64
If it is confirmed then the wave (E) of the Triangle should coincide with the SPX wave (B) rebound.

[TWT]

SPX: Regarding the immediate time frame price action, it is really tough to have a confident count since, in my opinion we are dealing with a corrective move, and unfortunately it can easily morph.

Maybe price is unfolding a Triangle that should establish a bottom with the last thrust down, who knows if at the 0.618 retracement the PPT will step in.

[KeiZai]

yesterday´s crude for fun


scammers

[Wallstreetrader]

GM

Thanksgiving is a week away. But if you want to take advantage of one of the more successful trades of the last decade, you'll have to act tomorrow.

Jonathan Krinsky, Miller Tabak's Chief Technical Market Analyst, just sent around a trading note analyzing S&P 500 movement around Thanksgiving during the last ten years.
On average, he found, the S&P establishes a low near November 20 and rallies into December 10.

"Looking more specifically, we find that buying the close on the Friday prior to Thanksgiving, and holding for 3 weeks has provided very attractive returns over the last decade," wrote Krinsky. "Since the 2002 Bear Market ended, this trade has been profitable every time, with an average gain of 2.80%. Since 1982, the average gain over this period of time is around 2%."

Here's a table of the returns for each year:

[pezhead9000]

FWIW: NYAD RSI comparison

[L_T]

The only chart I need to give me confidence in my small long position initiated yesterday at the close. Everyone knows oversold can become more oversold but the risk/reward now favors upside movement however temporary.

[uempel]

For whoever plays DAX - I've got a signal on the daily and I'm long (DT)

[Petsamo]

Stock up on your Twinkies while you can (Friday morning humor)...... (although not so humorous for the workers being let go)

Twinkies maker Hostess going out of business
Nearly 18,500 workers will lose their jobs as the company succumbs to the crippling effects of a nationwide union strike.

http://money.msn.com/top-stocks/post.as ... 59d177e676

They'll probably move to Mexico

[Cobra]

the open.

[pezhead9000]

Stock up on your Twinkies while you can (Friday morning humor)...... (although not so humorous for the workers being let go)

Twinkies maker Hostess going out of business
Nearly 18,500 workers will lose their jobs as the company succumbs to the crippling effects of a nationwide union strike.

http://money.msn.com/top-stocks/post.as ... 59d177e676

They'll probably move to Mexico

ZomBieLand Twinkie scene...
http://www.youtube.com/watch?v=MeS6DvyLScE

[Harapa]

PAGING UEMPEL
I am not sure if you looked at this.
viewtopic.php?f=2&t=734&start=160#p104954