04/04/2013 Live Update

[TWT]

$EURUSD: kick off of a potential countertrend wave (B) rebound

[Nrsimha]

TMF....still in uptrend....sitting right at downtrend line...breakout soon??
Maybe it jumps...

TLT is flashing an AROON buy signal (e.g., $ONE:TLT flashing an AROON sell signal.)

[MrMiyagi]

[TraderGirl]

SPY potential support zones...and potential downtrend channel...

[gasprice]

We are buyers of gold TODAY. Gold is the strongest performing asset in the last 50 years and the public has abandoned it here.

[Nrsimha]

That looks very (intermediate term) bearish.


Price tends to SLIDE DOWN lower BB, not bounce off of it.

http://www.youtube.com/watch?v=ueBUFUWSXHs

[TraderGirl]

We are buyers of gold TODAY. Gold is the strongest performing asset in the last 50 years and the public has abandoned it here.

Nice chart...

[TraderGirl]

Thanks Miyagi!!

[Pagat]

The 5 day avg of the Equity put/call ratio has fallen further today as retail gives up on stocks to tie the lowest level ever seen in a bull market. Let me repeat that: THE LOWEST LEVEL EVER SEEN IN A BULL MARKET. The 5 day average is the same as the week the market bottomed in March 2009. In the trading business, we call this "a market on the verge of a massive technical breakout". The one possibility no one is even considering now.

I disagree. I was watching my Isee chart earlier today and I can say that there are no rules and every situation is completely unique.
In my opinion extreme low means market will correct. The V shape means correction in 90% cases; in fact only 1 case was diffrent in past 7 years.

[Cobra]

nothing to say. other than if bulls fail here (I don't know if they will), then the chart would be bearish, since I read it as the 2nd test of the day high so no failure allowed from now on.

[jarbo456]

The 5 day avg of the Equity put/call ratio has fallen further today as retail gives up on stocks to tie the lowest level ever seen in a bull market. Let me repeat that: THE LOWEST LEVEL EVER SEEN IN A BULL MARKET. The 5 day average is the same as the week the market bottomed in March 2009. In the trading business, we call this "a market on the verge of a massive technical breakout". The one possibility no one is even considering now.

I disagree. I was watching my Isee chart earlier today and I can say that there are no rules and every situation is completely unique.
In my opinion extreme low means market will correct. The V shape means correction in 90% cases; in fact only 1 case was diffrent in past 7 years.

I'm not partaking in the opinion portion of this - but I think it's important to be aware that extreme put-call ratio readings are often contrarian in nature - thus extremely low readings may actually indicate bearishness.

<shrugs> just saying.

[uempel]

Update:

[MrMiyagi]

We are buyers of gold TODAY. Gold is the strongest performing asset in the last 50 years and the public has abandoned it here.

And who is "We"?

[Tabby]

The problem with R2K are
- lack of volume in good stocks
-Some of the good socks 21Ma<50MA

Garbage stocks can stay where they are ( keep RUT above 868-900) but unless there is no push for good stocks we will be wandering around now. For Example,
FSLR (Bet 1.44 ), CURRENT $ 26.08, MA22 27.11, MA50, 29.17 ,52Wk high36.97, AVG volume 4,232,807 , current volume 22MA 1,966,216

I would not be totally bearish about it but R2K is very different, fast go up or down b/c it is easier to manipulate this index.Hourly MACD turned positive, RSI 14 is still less than 50, W% increasing upward.
BUT DAILY R2K is Still in the DOGHOUSE

[Nrsimha]

The 5 day avg of the Equity put/call ratio has fallen further today as retail gives up on stocks to tie the lowest level ever seen in a bull market. Let me repeat that: THE LOWEST LEVEL EVER SEEN IN A BULL MARKET. The 5 day average is the same as the week the market bottomed in March 2009. In the trading business, we call this "a market on the verge of a massive technical breakout". The one possibility no one is even considering now.

I disagree. I was watching my Isee chart earlier today and I can say that there are no rules and every situation is completely unique.
In my opinion extreme low means market will correct. The V shape means correction in 90% cases; in fact only 1 case was diffrent in past 7 years.

Since the FED is blatantly manipulating the market, all bets are off.

[Out of Bounds]

We are buyers of gold TODAY. Gold is the strongest performing asset in the last 50 years and the public has abandoned it here.

And who is "We"?

May I speak to Sybil please?

[MrMiyagi]

!!!!!!! POWER !!!!!!!
!!!!! HOUR !!!!!

[TraderGirl]

TNA...looks like bear flag...needs another leg down for 5?

[1der]

In the immortal words of the B-52's : I Can't Hear You!

Let's do it!!!!!!

[uempel]

We are buyers of gold TODAY. Gold is the strongest performing asset in the last 50 years and the public has abandoned it here.

Mr. Gold, pls check this old chart: if equities pull back (B, blue scenario) long gold might make sense as a trade. If equities shoot to the moon (A, green scenario) gold will lose