06/05/2012 Live Update

[Cobra]

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Flat open, so any gap will be filled.

The Global ES still looks like a Bear Flag or Pennant, so eventually this rebound may fail. For now, the pattern is not bad for bulls because bulls had a successful test on the low overnight so it might challenge on the upside today.

[Cobra]

I cannot say I like what happened on DAX, yesterday't Doji now seems just a continuation pattern. The H&S Top still alive, the 100% target is at 5861.69.

[CarlosDK]

Cobra it for sure looks like a bear flag - what is the target on it if it plays out? 1240-1250 ?

[CarlosDK]

Like yesterday Cobra - it would be helpful for all in here if you made the "arrows" with your wildest guesses ,, helping a lot here.

[Cobra]

Cobra it for sure looks like a bear flag - what is the target on it if it plays out? 1240-1250 ?

need a breakout to calculate.

[louie]

Watching SPXEW 13/34 ma very close to crossing

[Cobra]

the open.

[Al_Dente]

gm
ISM Non-Mfg Index due at 10:00 ET
Consensus 53.5

[louie]

They are hitting BIDU and IBM very hard with buy orders

[Cobra]

so far not looking bad, the bias is up.

[KENA]

Notice the weekly Mkt strength chart.Compared to past preformance the mkt strength is about to turn up this will give the bulls the advantage for awhile.Yesterday the liquidity turned sideways.If it turns up this will also give the bulls the advanatage(liquidity chart not shown) (chart by stocktiming)

[Mr. BachNut]

Market Neutral.
I've got terrible technicals with growing positive divergences.
So, trend is down with risk of a rebound/reversal growing.
I have one long setup that could trigger later in the week, but it is hard to get excited about it.

[Cobra]

very good, let's see target. 100% MM and C&H.

[Petsamo]

What's up with this up move? There's no real good news

[louie]

Market Neutral.
I've got terrible technicals with growing positive divergences.
So, trend is down with risk of a rebound/reversal growing.
I have one long setup that could trigger later in the week, but it is hard to get excited about it.

I'm with you on this - neutral - but itching for a good short setup.

[Al_Dente]

ISM = better than expected
AD just jumped on that news
$NYADV 1850

[TraderJoe]

GM TraderGirl and everybody else,
When you get time, would you please show us a chart with your thoughts on UNG?

[louie]

Dax showing some strength here

[Petsamo]

ISM = better than expected

Expected = 53.5
Expected range = 52.0 - 55.1
Actual = 53.7

Actual numbers are a little better than expected but it shouldn't be enough to move the markets.

http://mam.econoday.com/byshoweventfull ... &lid=0#top

[Petsamo]

Let's drop already