04/25/2012 Live Update

[MrMiyagi]

Will metals sink again as in every other FOMC gab session?

[Cobra]

update, no comments.

[SWalsh]

It is amazing how the headlines have been many of those that are in Galbraith's "The Crash"

US durable goods orders fall sharply

By Anjli Raval in New York

US durable goods orders fell by the most in three years in March, well below expectations and a sign that forward momentum in manufacturing may have eased.

Orders for manufactured goods meant to last at least three years decreased 4.2 per cent, the biggest decrease since January 2009, according to commerce department statistics. This followed an upwardly revised 1.9 per cent February increase. Analysts had expected a decline of 1.5 per cent last month.

[btran874]

KBE: the EWP suggests that this is a wave (B)

You wanna bet on that pattern or you want to bet on my pattern? I'm putting my money where my mouth is. I sure do hope to see 1356/58 again. I think we're not gonna see 1340 or even 1350 for a long time.

I don´t understend your pattern
what I can tell you is that my reading of the short-term price structures is suggesting that price should complete what is called a Zig Zag = ABC in order to consider a tradable bottom

Price will tell ......

I'm comparing the May 2011 decline with the current decline. Pretty clear to me. Nasdaq also has overlapping wave 4 down before making a final touchdown 2 days ago. SPX of course has overlapping but didn't break below 1357 like Nasdaq. The bank index shows the cleanest and clearest path. It is an identical almost 100% to the May 2011 decline.

[knock]

Gold dropped big. Any news?

[MrMiyagi]

Gold dropped big. Any news?

FOMC and gold drop go hand in hand.

[Cobra]

too bad no roller coaster show today.

[Cobra]

overall, it's not a bearish pattern though. let's wait for the breakout (can be either side) first.

[CarlosDK]

Can you update the AAPL outlook Cobra?

[Cobra]

Can you update the AAPL outlook Cobra?

need a pattern, right now nothing to say.

[MrMiyagi]

I guess the breakout is to the upside Mr C.

[Cobra]

as I said, it's not bearish, now let's see if the morning high could hold bulls, which I doubt though.

[Cobra]

lunch time, will be back, not as strong as I thought, so key time, no failure allowed for bulls.

[Al_Dente]

2.25mil bot buy on 1 min volume

[SWalsh]

too bad no roller coaster show today.

Except for the very few fast 10 tick SPY moves, which took little, the HFTs are close to being shut-off today so far. Without stats in front of me, these gap openings seem to have a retracement and the move marches all day, or we open and remain flat all day. It's indicative a a drastic reduction in day traders.

[MrMiyagi]

Another p-bar down on IWM, same spot as this morning's two.

[essessme]

1390/91 ES looks like an interesting area where:
1390 is the overnight high 4/19
1390.25 is C=A out of 4/10 low for RTH
1390.75 is 5th wave extension = 1.618 of 0 thru 3 to complete C

[Al_Dente]

anyone have a hot link to Ben LIVE net please post thanks

[Buckethead]

It all comes down to what this guy says at 2:15

http://azizonomics.files.wordpress.com/ ... _young.jpg

[67Chevy]

anyone have a hot link to Ben LIVE net please post thanks

Marketwatch has this link:

http://blogs.marketwatch.com/election/2 ... onference/