06/03/2015 Live Update

[cletus]

I am wondering how bears can justify their position < 1% from all time highs. Why do you think it's a top and what proof do you have? Did you find a stat online to support your position? I have seen stats like that since 2009 saying the market should take another leg lower. Be careful what stats you look at, there are many deceptions. I stick to what has worked for decades. All say stay long.

[chetas]

forgot to say, it's morning hourly black bar.

hi cobra,

the next hour pulled back, so can we say target already fulfilled

[Trades with cats]

I have read Van Tharps books, I have not gone to a workshop. I have not read his new one, "The Red Pill For Traders". I highly recommend taking his free personality type survey on his web site that categorizes people by the kind of trading that fits their personality. I think anyone who wants to trade needs to read Van Tharp and the story of the Turtles as told by Curtis Faith in "The Way of The Turtle", but watch Trading Places first for the Cliff Notes version. . Van Tharp didn't make gut sense to me until I went through the last big crash. I re-read him afterwards and now I do things with much more self awareness.

[fehro]

so new pattern today.. vs the last 4 days.. drop drift up drop... today pop drift down pop?

[Unique]

BIDU Update: C&H

Above weekly 204.5 res, current price = 205.xx
Hourly+Daily is C&H bull pattern, key time

[Unique]

ES 5m gravestone candle~/top wicked rejection, see if there's follow through. 2120 first try double top potential

ES first try double top resistance for now. As long as hourly holds half the bull bar (above 2115), afternoon bull looks decent.
If bulls continue to hold well, then 2125 is afternoon target.
If can't hold 2115, then we go back into the tight bottom half of the range 2094- 2110

[DellGriffith]

I highly recommend taking his free personality type survey on his web site that categorizes people by the kind of trading that fits their personality.

The personality test was heavily flawed because it doesn't give any frame of reference. For example, it asks if I make value decisions or logic decisions. But if you ask me "Do you prefer to make value decisions moreso today than 5 years ago?" or "Do you prefer to make more value decisions over logic decisions than the average person?" my answer could be completely different.

Without providing that key frame of reference (comparing my current self to my past self, or my current self to the average person), the test is worthless. Some people can and will switch between the two frames of reference in their heads while taking the test and it can lead to completely different results every time you take it.

[Trades with cats]

Oil inventory was not good news for bulls. Refineries running at 93.6% of capacity managed to draw down crude inventory, but drillers produced a new record for domestic production. Imports of crude still in that same range. Overall products in inventory increased. Coincidence that S & P topped out as the report was digested by traders?

[Trades with cats]

Dell, I totally agree. But it is quick, free and forces you to think about yourself. I expect the $100 version or a private consultation would do more. Defiantly going to pay up for my sons-in-law before they start managing my money (don't mean to sound sexist but my daughters have zero interest)

[Cobra]

forgot to say, it's morning hourly black bar.

What's the track record between hourly black bar doji vs body?

don't know but you have the chart, you can count yourself.

[Cobra]

forgot to say, it's morning hourly black bar.

hi cobra,

the next hour pulled back, so can we say target already fulfilled

red or green next bar doesn't matter, the up after black bar likely would be erase that's what chart says. of course it doesn't work all the time.

[Cobra]

testing ema20 1st time with vol surge, so probably would be bought.

[fehro]

AAPL D/60m possible minor H&S.. take out red uptrend/ 50d .. could see a sharper down move.. or bullish wedge/flag. Small short here.. may add on a break of the 50d/red

[fehro]

SPX .. not looking great.. hourly candle reversal.. 15m to go.. VIX into resistance.. SPX support

[q2model]

forgot to say, it's morning hourly black bar.

hi cobra,

the next hour pulled back, so can we say target already fulfilled

red or green next bar doesn't matter, the up after black bar likely would be erase that's what chart says. of course it doesn't work all the time.

Looks like it is working today ;-(

[Cobra]

mini pullback target. exceeds it then this bear is serious.

[MrMiyagi]

qqq

[fehro]

SPX 20d.. .. still an issue..

[Out of Bounds]

Musings

/ZB - rates are rising

Pitchfork on the SPY
I'm just playing with this as I have very little experience with these.

[Cobra]

well, at least this bear shall have small legs.