04/23/2013 Live Update

[Out of Bounds]

Short 1572

I think we will see a fade from here. Nerves are rattled.

[rc1269]

Miyagi I believe it exactly touched your p-bar.

Insert conspiracy theory here.

No conspiracy here, this just confirms the reality of P-bars as a type of "sonar". (It finds where the bedrock of bids are).
Think of what just happened as an "experiment".

Most bids dried up, those bedrock bids were large institutional buys which were sitting in the market and I wonder if they got filled?

That just tells me that there is HUGE support at SPY 156.29.
That is great risk/reward, intermediate term.

uhh... or that could just be yesterday's close...

[kenttown]

Short 1572

I think we will see a fade from here. Nerves are rattled.

Confidence is sky high

[Cobra]

Ok, the chart was damaged a little bit so difficult to read but if forget about that spike, I see bull flag here.

[Al_Dente]

Intraday NYMO suggests we are near some kind of top
[caveat: the spikes may screw up all our MAs and indicators...?]

[stlwater]

Miyagi I believe it exactly touched your p-bar.

Insert conspiracy theory here.

No conspiracy here, this just confirms the reality of P-bars as a type of "sonar". (It finds where the bedrock of bids are).
Think of what just happened as an "experiment".

Most bids dried up, those bedrock bids were large institutional buys which were sitting in the market and I wonder if they got filled?

That just tells me that there is HUGE support at SPY 156.29.
That is great risk/reward, intermediate term.

uhh... or that could just be yesterday's close...[/quote]

I'm not a day trader. I do realize I am hanging out with them here. I'm looking at this as an op to add to a short position. My book is that we're in the process of correcting. Last week was the signal. This week is the nice person holding the door open for us. Next week that door is likely gonna slam shut, if not before the end of this week. If I'm wrong I'm wrong, if I'm right, I'm rich. That's what it's all about.

[MrMiyagi]

Intraday NYMO suggests we are near some kind of top

It was top-heavier before the spike and the NYADV was over 2400. 2 hours left, Cobra says bullish, we may climb back there.

[TWT]

$SPX : Now it is guessing time. I can only think of a wedge

[MrMiyagi]

[Cobra]

by the way, usually this kind of crash low will be revisited in the following days.

[stlwater]

by the way, usually this kind of crash low will be revisited in the following days.

Plus we have that pesky black hourly bar...

[MrMiyagi]

by the way, usually this kind of crash low will be revisited in the following days.

Maybe, since it was based on fake news, the pBars getting hit should not be counted. Not that it makes a difference to anyone...

[jarbo456]

anyone looking at aapl earnings today?

thoughts?

[Tutti]

anyone looking at aapl earnings today?

thoughts?

Here's my workbook on AAPL:

[TWT]

by the way, usually this kind of crash low will be revisited in the following days.

Maybe, since it was based on fake news, the pBars getting hit should not be counted. Not that it makes a difference to anyone...

Ok give me a rubber eraser so I remove it from the chart

[TraderGirl]

Funny, I had a dip on my charts today, sometimes it's hard to tell how long it will last and from what level...I guess that was it..

[KENA]

All I can say right now is the RSI on 15 min.SPX are riding high..So a pull back..The joker card in the deck could be AAPL and the pending earnings report coming out..Wait and see.

[Al_Dente]

by the way, usually this kind of crash low will be revisited in the following days.

Cobra:
60min ChiOsc getting extreme?

[MrMiyagi]

Some information on the fake tweet.

[Unique]

Key time bears. Your only chance left is to defend this region. Fun day

Well, I guess bears did respond with its ambush, but it's not a real fade yet. Waiting for a 5min close under 157.36