05/30/2013 Live Update

[Tutti]

hoy malloy
NUGT up 13%

I'll see your NUGT and raise you a NBG (up 440%)

[Al_Dente]

hoy malloy
NUGT up 13%

I'll see your NUGT and raise you a NBG (up 440%)

OT
XIV lower low, low on day LOD

“Of all the gin joints, in all the towns, in all the world, she walks into mine.”
[Rick, “Casablanca”]

[Cobra]

rebound as expected. should be a 2nd leg down somewhere.

[daytradingES]

Is HOD in place Cobra?

[Al_Dente]

David Kneupper intraday tick

[Mr. BachNut]

No change. Carrying partial short.
Expectations low as all intermediate horizon bear signals have failed this year.
Pricewise, trade is OK at moment, but technically it is in trouble as signal was based on McClellan Summation Index and the oscillator is now in bottom territory.
It is the second time this year that breadth got "oversold" after an inconsequential price pullback. Unusual and bullish.
Not bailing yet because sometimes great selloffs initiate from an oversold state. So, I'll let the setup play out some more.

My signals remain mixed.
My summation index signal is down for the S&P and neutral for the R2K.
My composite trend indicator signal remains up. It took a dent yesterday, but still looks in good shape.

I see we are still coiling in a triangle.
As the intermediate trend is up, that favors bullish resolution.
Bears still have a shot at turning it into a head and shoulders.

[joegamma]

regarding TRIN and Trinq moves past few days...any way to tell if the advancing volume was covering short positions?
TIA

Once again, iwm looks shaky, given the bkx strength this morn'
GLTA

[quatzl]

If you squint real hard, possible inverted h&s, on 5 min ES.

[uempel]

I'd be very surprised if "the bullish scenario" doesn't work out as shown here, grid charts tend to be very accurate. Why? There are all kinds of theories, I don't want to delve too much today

[TWT]

$SPX: corrective bounce that can either establish the wave D of Triangle or B of a DZZ

[Cobra]

2nd leg down probably.

[Al_Dente]

gaps on gld

[Cobra]

100% mm target on the 2nd leg down. bears need do far more than that to be bear.

[joegamma]

short a bit, looking for r2k test 9770-80 below...is the euro pop done now?

[Cobra]

support, volume surge, so might see rebound here first. overall, no sharp down then chart favors bulls.

[KeiZai]

Tna can be counted as impulsive and corrective strucutre as well, fail here then it is 3w str.

The attachment TNA.png is no longer available

TNA2: is holding the channel more of chop ?

or breakdown finally?

[fehro]

Gap almost filled.. now top of channel? make a descending triangle? or bust higher?

[Cobra]

trend line resistance. chart pattern favors bulls although not sure if another pullback first.

[uempel]

Looking at the 15 min cloud...

[jarbo456]

VMW is a piece of crap. lol