08/30/2012 Live Update

[Cobra]

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Gap down below yesterday's low, so the gap might not be filled.

The Global ES looks like a 1-2-3 Formation break down then spent the whole night consolidating below the break point which usually means the break down is for real, so the next target probably is the thick blue line below. For bulls, nothing to worry until the thick blue line is decisively taken, let's see.

[Harapa]

Momentum Block Uodate:
Overnight action in the futures market pushed ES and RUT (almost) into a ST sell mode. Currency and global markets are also in sell mode. US/Global futures and currency market insync is a big red flag for the bulls at the moment. Trade carefully!

[Harapa]

VIXIES Momentum block:
VIXIES indicate heavy hedging activity. Yesterday's intraday move up was an interesting action, only XIV could see it coming. The short SPY trade triggered on 8/27 was down by 0.07 $ as of close yesterday but should e in profit if market opens at pre-market levels. IWM, on the other hand, will show a small loss.

[joe-gamma]

Momentum Block Uodate:
Overnight action in the futures market pushed ES and RUT (almost) into a ST sell mode. Currency and global markets are also in sell mode. US/Global futures and currency market insync is a big red flag for the bulls at the moment. Trade carefully!

thanks Harapa! what symbol/ exchange are you using for r2k future?
cme small cap seem too illiquid but midcaps are less of a pandora box ("you can get in, but you CAN"T GET OUT!")
thanks, GL

[TradingJackal]

Divergence on ES hourly. It has worked to the upside twice so far. Will it do the same for the third time?

[Harapa]

thanks Harapa! what symbol/ exchange are you using for r2k future?
cme small cap seem too illiquid but midcaps are less of a pandora box ("you can get in, but you CAN"T GET OUT!")
thanks, GL

I don't trade futures, I only use the information to gauge overall direction of the trend in the market. For Futures TA I get my feed from a FOREX platform.

[Petsamo]

I wish the DAX would get it together, either sell off or rally.

Anyone have suggested buy points on BPT ?

[Cobra]

the open.

[joe-gamma]

Divergence on ES hourly. It has worked to the upside twice so far. Will it do the same for the third time?

same with these 2.5 hr candles, blueprint is look for a few lower lows, consolidate after europe close, short-cover this afternoon?
GL and thanks Jack!

es830.png (10.61 KiB) Viewed 7590 times

[Unique]

Buying some SPY calls on the next dip within 5 mins for a double. 141 calls Aug 31

[TradingJackal]

I am leaning bullish as long as 1399.75 holds. Changed the counts to bullish outcome. But since we are in 3 of 5, it better shoot up quick!

[joe-gamma]

GM to Dr Al: can you put on the sector-rotation-guru Hat sometime today? (no hurry)...

just pondering why there is no weakness in discretionary stuff, despite same ol same econ data PLUS much higher gas...
GL

[Unique]

Waiting for the small dip and buying 141 calls

I rather miss it than chase.

[L_T]

I wouldn't touch BPTuntil someone explains what is happening with it.

If you like to buy things that are oversold check out X or CLF. I however would be inclined to short both given the momentum/trend. By the way I really want to own CLF long-term but just can't pull the trigger with the chart looking the way it does. It needs to show some kind of life before it can be held.

I wish the DAX would get it together, either sell off or rally.

Anyone have suggested buy points on BPT ?

[Petsamo]

I wouldn't touch BPTuntil someone explains what is happening with it.

If you like to buy things that are oversold check out X or CLF. I however would be inclined to short both given the momentum/trend. By the way I really want to own CLF long-term but just can't pull the trigger with the chart looking the way it does. It needs to show some kind of life before it can be held.

I wish the DAX would get it together, either sell off or rally.

Anyone have suggested buy points on BPT ?

I already own CLF. Instead if X, I went into SID yesterday. I decided to stop watching BPT. The difference between the Bid Ask prices are large. Whoever is dealing it is making a killing. What is happening with BPT is the high yield dividend bubble is finally bursting. I gave the link yesterday.

[TradingJackal]

Not to belabor the point, but ES 5 hr is also at a point of crossover. If there is no further damage to the downside, there is one rocket ride waiting to the upside.

ES 5 hour with a potential crossover

Divergences on ES hourly playing out

[Petsamo]

Another stock outside of coal or steel that is ridiculously oversold is AMD. It isn't doing that bad today.

[Unique]

Waiting for the small dip and buying 141 calls

I rather miss it than chase.

Bidding at .39 right now

[Cobra]

pay attention to VIX, let's see if it'd close above its BB top today which if indeed then it'd be good news for bulls.

[Unique]

Waiting for the small dip and buying 141 calls

I rather miss it than chase.

Bidding at .39 right now

Filled, now let's wait, no early celebration.