07/25/2013 Live Update

[auger]

The charts I posted earlier are hourly bars, BTW. Arrows are a little off, but you get the idea. Pretty sure next dip is buyable, low is in.

[daytradingES]

double top at 1684.25 ?

other thoughts?

[tkvprasad]

paging BB52X - Are you off today ?

[fehro]

SPX 5m.. added a new red line

[BullBear52x]

double top at 1684.25 ?

other thoughts?

/ES resistance of 50% retracement is right about here but it could push to 61.8 around 86.5

[BullBear52x]

paging BB52X - Are you off today ?

I am here boss.

[Cobra]

consolidation above neckline then breakout, looks good. we have confirmed double bottom breakout here.

[MrMiyagi]

Hey Cobra, colonic went OK?

[Al_Dente]

yesterday
Corey on gold
http://blog.afraidtotrade.com/quick-upd ... -gold-gld/

That inspired me Al D. to fib extension picture it. GLD. so much talk 'bout Comex emptying out of physical; ending the gold paper play; FreeGold market a-coming (not sure I unnerstand it yet but there should be a chance to get out when price upheaves); taxation is Weird on GLD. So, thus, GDX. I figure miners will surely at least still be mining the stuff. Here's what Corey's talking about. Fib Extension. green if breakout up from yest.'s low. red if down-low @ bottom and yest.'s high. and the white is the long term bottom back up to gold 1600.

gdxfibext25jul13.png

Close up:

gdxcloseup25jul.png

thx auole

I think COMEX inventories are a maniplutor’s paradise, just IMHO

Here, the drawdown in COMEX gold inventories is used as a rationale for the gold squeeze, even though inventories have been declining for the last six months, and the long-gold trade (squeeze) is only 4 weeks old…
http://seekingalpha.com/article/1560912 ... icle_title

I have a few problems with that:
1) The charts don’t synch up, so they are immediately suspicious
2) Ripe for manipulation? If you want COMEX to register lower inventories, possibly resulting in a squeeze (short-covering gold), just demand delivery and poof: the numbers will reflect a drawdown…
Where else could you find such transparent temptation if you were, say, a whale or a big bank… This would not be the first nor the last time JPM and friends toyed with the metals markets…
3) Is this just a pimp piece? His disclosure shows he is long plenty gold stocks.

And now the regulators step in with a “do-not-destroy” order.
I don’t mean to go all “conspiracy theory” on you, but this smells too: “…four of the six largest players [LME and CME registered warehouses] have been bought by investment banks or traders."
http://www.reuters.com/article/2013/07/ ... CY20130722

Is this a mess, or is it just me?
Oy, I’ll just stick with TA

[BullBear52x]

SPY intraday = sell the rip
Short term swing = sell
Long term = buy

so far intraday bear do what it suppose to do let see this is where the main cross road occur

[daytradingES]

[Wallstreetrader]

bulls in troubles check possible down channel

[fehro]

SPX 15m

[Cobra]

hmm, failed breakout. it seemed a good long setup. Anyway, still think this pullback would be bought somewhere. The low should be in for today.

[BullBear52x]

SPY bears mean business, see 5 min. RSI<50. encouragement sign for bears at the least.

/ES is at 5 dma support

more fight here let see.

[fehro]

slight divergences on the indices

[Cobra]

Hey Cobra, colonic went OK?

what?

Anyway, nothing wrong.

[Cobra]

this pullback may have small legs.

[Wallstreetrader]

these morning i put these chart plan so far is runing well

[fehro]

was that pop at 11:30 from the POMO..