05/09/2012 Live Update

Post by **Cobra** » Wed May 09, 2012 9:04 am

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Gap down below yesterday low, for the 3rd time. The previous 2 times, bulls had a strong rebound forming a bullish reversal bar on the daily chart, the question is: will the 3rd time be the charm? Well, usually the 3rd time is different, so be careful.

The Global ES is testing the Sunday low for the 3rd time, so the same question: will the low hold for the 3rd time? Again, usually the more test the less likely the support would hold.

So all in all, it doesn't look good here. Don't know why bulls had 2 consecutive came back in the past 2 days but apparently they don't have any trump cards which is strange. Anyway, let's see how today unfolds. To be a trader we should be used to the "Changes", so no argue here, Mr Market always right, whatever it is...

cougar · Post by **cougar** » Wed May 09, 2012 9:08 am

GM! SPY in pre-market is trying to penetrate the bottom of the new MM octave:

cougar · Post by **cougar** » Wed May 09, 2012 9:11 am

[1] AAPL sell signal before close => sold to open weekly 575C

[2] AAPL transition to a SELL MODE this morning… as simulated by Volpinacci:

cougar · Post by **cougar** » Wed May 09, 2012 9:12 am

$GLD target/support ~152.6

KeiZai · Post by **KeiZai** » Wed May 09, 2012 9:14 am

GM folks,

BB do u remember when we discussed copper? Measured move of that fat head point exactly to 61.8 fib (not updated, already broke the neckline)

Metals, not looking too healthy but can take a break here (note to newbies: risky)

: Gold

: Silver

Dax chart : DAX love that red line but its time to say bye

SPX

BMW: why i am so evil to that stock? I think one day my car will not start

one rhyme for the road: they call me doctor VIX, aint nothin i caint fix, when u try to mix, a portfolio like a TVIX

GL ALL

Post by **Cobra** » Wed May 09, 2012 9:15 am

DAX, I think chances are high this indeed is Head and Shoulders Top. targeting 6979 area.

champix · Post by **champix** » Wed May 09, 2012 9:15 am

GM All,
Crude in a triangle or a bear flag ! Sould be more down to come...

cougar · Post by **cougar** » Wed May 09, 2012 9:16 am

FXE next target/support ~128.8

cougar · Post by **cougar** » Wed May 09, 2012 9:24 am

Lots of trading projected for today…Have to decide what shorts to close, what to “lock in” and where to nibble…

Important for decisions: Delta Vol. detected via Vol. Ratio versus Vol. Avg. (intraday)

Good luck to everyone! See you before close!

KeiZai · Post by **KeiZai** » Wed May 09, 2012 9:26 am

champix wrote:GM All,
Crude in a triangle or a bear flag ! Sould be more down to come...

Definitely, I see clear way to ~ 91, what is your target?

Btw love ur avatar

Post by **Cobra** » Wed May 09, 2012 9:31 am

the open. by the way, the Bump and Run pattern indeed worked again.

KeiZai · Post by **KeiZai** » Wed May 09, 2012 9:33 am

cougar wrote:Lots of trading projected for today…Have to decide what shorts to close, what to “lock in” and where to nibble…

Important for decisions: Delta Vol. detected via Vol. Ratio versus Vol. Avg. (intraday)

Good luck to everyone! See you before close!

YEAH busy day

good luck!

champix · Post by **champix** » Wed May 09, 2012 9:35 am

KeiZai wrote:
champix wrote:GM All,
Crude in a triangle or a bear flag ! Sould be more down to come...
Definitely, I see clear way to ~ 91, what is your target?
crude.png
Btw love ur avatar

Thx,
My first target was about 95... my longer term target is 85 if things getting worst on the markets...

TWT · Post by **TWT** » Wed May 09, 2012 9:36 am

EURUSD: Potential path within the idea of a ZigZag

BullBear52x · Post by **BullBear52x** » Wed May 09, 2012 9:37 am

KeiZai wrote:GM folks,

BB do u remember when we discussed copper? Measured move of that fat head point exactly to 61.8 fib (not updated, already broke the neckline)
fathead.png
Metals, not looking too healthy but can take a break here (note to newbies: risky)
Gold-5.png

Silver9-5.png
Dax chart : DAX love that red line but its time to say bye
DAX9-5.png
SPX
SP9-5-2.png
BMW: why i am so evil to that stock? I think one day my car will not start
BMW9-5.png
one rhyme for the road: they call me doctor VIX, aint nothin i caint fix, when u try to mix, a portfolio like a TVIX

GL ALL

KeiZai: Nice work evil you.

GM All.

Richarab · Post by **Richarab** » Wed May 09, 2012 9:37 am

Did you miss me? I am BBQ with natural gas - pool is heated, with natural gas. Bought a car, Honda civic natural gas.

---
I am here: http://tapatalk.com/map.php?qgzdjb

MrMiyagi · Post by **MrMiyagi** » Wed May 09, 2012 9:37 am

Ben talks sometime soon?

traderessentials · Post by **traderessentials** » Wed May 09, 2012 9:37 am

Cobra wrote: by the way, the Bump and Run pattern indeed worked again.

Cobra, How do you read the bump and run on the chart?

Petsamo · Post by **Petsamo** » Wed May 09, 2012 9:42 am

IWM wants to rise

Al_Dente · Post by **Al_Dente** » Wed May 09, 2012 9:45 am

Cobra:
RE: CPCE
I posted this chart for you a couple of months ago.
I haven’t seen it signal since late December.
Inverted $CPCE buy signal (green circle) when dots fall outside the shaded “zone”
Like most indicators it has its share of fails (dotted blue lines) but it’s often within range

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