04/17/2014 Live Update

[Me XMan]

I don't believe Russia is communism now.

H&S Top, I wish.

Who wants to hold through a long weekend with Russkies running around Communizing the world?

[Me XMan]

Who's holding for SPX 1900?

[MrMiyagi]

I don't believe Russia is communism now.

Yes... was kidding.. am well aware....

[TraderGirl]

Interesting potential setup on IWM...

If gets below wave 3...then could be a wave 5 down for "a"...

[Out of Bounds]

This is really starting to look like another lower high.
Adding to my (losing) short position.

[Out of Bounds]

This is really starting to look like another lower high.
Adding to my (losing) short position.

Clarification: I'm looking at the daily chart.

[Me XMan]

Best of luck friend...better set that stop-loss

This is really starting to look like another lower high.
Adding to my (losing) short position.

[Varaha]

OK, trying to be helpful here .....

I think it is accepted by some that XIV often leads SPY ...

So, this chart is not totally out of context:
My version of rose-colored glasses -------- >
I am half "in" (50% cash 50% long).
If we "break through the clouds", I am all in.

Rose-colored glasses?

Disclosure: the recent lunar turn date has also been a factor in turning me bullish again ("blood moon" notwithstanding... ).
Accompanying music: https://www.youtube.com/watch?v=vvsw_Jq4UcE

[Out of Bounds]

Best of luck friend...better set that stop-loss

This is really starting to look like another lower high.
Adding to my (losing) short position.

Never use stop-loss. That said, now looks to break to upside. I will wait, still looking at that gap....

[TraderGirl]

Ok, if it busts out of this pattern, then this wave count is invalid...

We still have the potential fib turn at 10am PST...we'll see what happens then...??

[Cobra]

C&H target.

[Out of Bounds]

For the bulls: https://www.youtube.com/watch?v=90-5fpLdb-c

[KENA]

Down next week..Lets see.

[Out of Bounds]

Just got this in my email - I don't do pitchforks so I don't know how they are supposed to be drawn, but does this make sense or is my friend pulling my leg?

[Platy]

Major major turn date Monday-Tuesday

Monday is a Uranus-Pluto square, and Tuesday is a grand cross where Jupiter and Mars join the square. Should cause major reversals in a lot of things. SPX resistance on the square is at 1873.5.

[fehro]

Lets try that again... SPX 5m... minor, minor interday gap Apr10 1869ish area....shown below.. still pushing higher with in pink trends....

[fehro]

Index Dailies... TLT making a wide range move...

[flumanchu]

.

From a POMO perspective, if they hold it here (1866) today, then there's only POMO left for about 2 days for the rest of month to just hold the market even.

The big news will be ECB QE.

------> If there is ECB QE news over the weekend or by next Tuesday, then the market will be saved and it's => 'To Infinity and Beyond!'.

However,
-----> If there is NOT ECB QE news over the weekend or next week, then the market will drop to the target of 1790 until the end of the month.

Note: If the ECB announces QE, but does not deploy until a later date (May, etc), there is not enough POMO to hold the market even to the end of the month. So, the market could still drop, but then take off once timewise it gets closer to the date the ECB QE begins to make it's way to the American Market (purshase Treasuries to supply Primary Dealers with the cash to support the US market).

.

[Out of Bounds]

VIX down to 13.13. Bulls are strong here. I'm getting trampled and I think I just stepped in something warm.

[Cobra]

target met, this bull shall still has legs.