06/19/2012 Live Update

[nicha]

Cobra - wud you call this consolidating in AAPL?

[KENA]

The # of strong stocks shows a slight increase and # weak stocks are decreasing.This is on the bullish side.(chart by stocktiming)

[ClarkW]

Yesterday's possible Bearish Gartley on IWM 30 min. was negated (OBVIOUSLY). Strong move today! But can't help but feel the stronger the move up prior to Ben, the stronger the reverse. Hope I'm wrong

[KENA]

Chart showing the net value of weak stocks.Notice how the Dow tracks with this chart.Again the mkt is showing a more bullish trend for a few days. (chart by stocktiming)

[jarbo456]

Crude on fire ...

i'm still seeing a triangle which should resolve to the downside...what are you seeing champix?

[ClarkW]

@Zerohedge just tweeted the following chart regarding how the market moved prior to and after the last FOMC meeting

[KENA]

Liquidity had a very small dn tick yesterday..By indications today should be increasing liquidity..Institutions are buying more then selling..Again bullish trend for short term.(chart by stocktiming)

[lilitulip]

it is been in range every day, seems not as exciting as market, not sure why

GM to all.
Like yesterday around this time, mining stocks and NUGT are starting to move up..

[TWT]

SPX: Instead of a simple Zig Zag price could be unfolding a more complex Double ZZ

[OverUnder]

The April Fed meeting was on April 24-25, the oval on this chart. The market hit a higher high 2 days after the meeting. That Zerohedge chart is deceptive. 1316 close on end day of meeting, close of 1333-ish w days later. Yes, we went down after, but judging by Zerohedge missing this entire rally they don't know how to trade.

[Cobra]

Cobra - wud you call this consolidating in AAPL?

yes, it's consolidation so not bad for aapl: http://stockcharts.com/public/1684859/c ... /260183775;

[KENA]

Did not do much with DXD over the weekend but paid comm. and had enough left over for a soda and hotdog.The Dorsey Wright NYSEBP and other BP charts are very slowly trying to change bullish.My trading for the next few days will be swing trade long.Lets see.

[KENA]

The April Fed meeting was on April 24-25, the oval on this chart. The market hit a higher high 2 days after the meeting. That Zerohedge chart is deceptive. 1316 close on end day of meeting, close of 1333-ish w days later. Yes, we went down after, but judging by Zerohedge missing this entire rally they don't know how to trade.

YES..I find them very bearish..We need both sides but I think they over do it .

[TraderGirl]

SPX: Instead of a simple Zig Zag price could be unfolding a more complex Double ZZ

The wave you have labeled as A looks like it could be tracing out a 5 wave structure for C...

[TWT]

IBEX: Forming a Triangle wave (B) ?

[ClarkW]

The April Fed meeting was on April 24-25, the oval on this chart. The market hit a higher high 2 days after the meeting. That Zerohedge chart is deceptive. 1316 close on end day of meeting, close of 1333-ish w days later. Yes, we went down after, but judging by Zerohedge missing this entire rally they don't know how to trade.

I'm definitely not a Zerohedge follower per se, they are nothing but negative, too much for my taste. The chart however does show it peaked just after the meeting so I don't feel it's too deceiving. It would be nice to see market's moves to many other FOMC meetings, not just the last one. Reaction around one meeting is somewhat irrelevant but wanted to share just as just one little piece of info.

[Mr. T]

"We're never going down again!!!!!"

That's what Cramer told me........

[OverUnder]

Yes, ZH has useful information but their sole purpose is to be bearish and negative. I think most people know that and as long as they do, it's OK. I used to know a couple guys who read ZH every day and lost a lot of money getting brainwashed by them. Not me!

The April Fed meeting was on April 24-25, the oval on this chart. The market hit a higher high 2 days after the meeting. That Zerohedge chart is deceptive. 1316 close on end day of meeting, close of 1333-ish w days later. Yes, we went down after, but judging by Zerohedge missing this entire rally they don't know how to trade.

YES..I find them very bearish..We need both sides but I think they over do it .

[champix]

Crude on fire ...

i'm still seeing a triangle which should resolve to the downside...what are you seeing champix?

Hi Jarbo,
On an intraday basis, I am looking for a point to go long with a target above 85.
On a short term, I am clueless as it could be indeed a triangle but I see a double bottom too (blue circle) that could lead to 92!
So I will wait to see which channel gonna break first.
On a longer term, I am really bearish (with a low target @ 55 USD...lol) but no charts to explain...

[TraderGirl]

Out of town at my in-laws, on a small laptop.. ( Screen size sucks!! Anyways, SPX could be in a wave C finishing 5 waves soon..??