02/19/2014 Live Update

[MrMiyagi]

iwm

2509.png (8.36 KiB) Viewed 9315 times

[Nrsimha]

Potential short term cycle hitting on Russell...

Nice chart, TG!!

[Nrsimha]

Problem with short positions here is that momentum is not falling apart and today's Bullish Percentages point upwards. See the stockcharts link:

http://stockcharts.com/freecharts/candl ... ,$BPINDU|B

As long as Bullish Percentages don't show weakness short positions don't make much sense to me (except for scalping)

I thought the problem has always been that there are too many bears ???????????????????

[Al_Dente]

Today was the first SHORT TERM sell signal on XIV; the last signal was a buy long on 6 Feb.
It is currently back-testing the breakdown….. a new low will confirm the sell…

[Mr. BachNut]

I imagine I am not alone in having sell stops lurking below today's lows...
Could be a goer if the line is broken.
Let's see what powerhour brings...

[Out of Bounds]

This is when M1 sky rocketing and M2 flat. could you imagine when it circulate?

Oh here is the chart for M2.

You are so correct. Supply is huge now and when velocity increases, I can only imagine what we will have to do to reign in inflation. I would almost say Gold would be a buy but I also tink the inflation would be so huge all over the world that the usd would be propped up by foreign buyers seeking sanctuary. It will be very interesting to see how it all plays out. Very interesting.

[Nrsimha]

The fact that the market has not moved up significantly since the full moon last Friday tells
me that something is wrong.

The market is sick.

Something smells.

[MrMiyagi]

!!!!!! POWER HOUR !!!!!!

[TraderGirl]

At some point price could get lower than "a"....both SPY and FAS have similar counts....

As expected price headed below "a", now let's see if price will get below wave 3, the alternate count which could be another 5 waves down for "a" again....transports still have not gone below "a", so still have chances this could turn into another impulsive wave down on SPY...

5 waves down for "a", so bounce and more down....potential price target may be at least 183.1...

Bulls fighting...but price headed down below "a"....

[Cobra]

still double bottom possible, wait.

[TraderGirl]

Potential short term cycle hitting on Russell...

Nice chart, TG!!

[Nrsimha]

Calling TraderGirl ---- > I saw your chart the other day regarding $USD (related to UUP) and I was thinking
about that when I saw this article on the Kitco site.

Do you think that USD is turning today, right on the money, and is starting the next wave of EWT (on a daily/weekly basis)
or do you think the scenario unfolding is more like the following:

http://www.kitco.com/ind/Conner/2014-02 ... Place.html

[Cobra]

if bulls cannot lift price here then it'd be dangerous because the support has been tested so many times so hardly can hold another test.

[ALdaytrade]

At some point price could get lower than "a"....both SPY and FAS have similar counts....

As expected price headed below "a", now let's see if price will get below wave 3, the alternate count which could be another 5 waves down for "a" again....transports still have not gone below "a", so still have chances this could turn into another impulsive wave down on SPY...

5 waves down for "a", so bounce and more down....potential price target may be at least 183.1...

Bulls fighting...but price headed down below "a"....

So nice to see your charts again, TG!

Is there a larger count on, #1 being the move down (1850 to 1737) and #2 being the move up (1737 to 1847) and now we are in the #3 which will be a longer and larger move down?

[Out of Bounds]

if bulls cannot lift price here then it'd be dangerous because the support has been tested so many times so hardly can hold another test.

There it goes!

[Cobra]

breakdown, too bad.

[Cobra]

100% mm I don't believe, more of than not nowadays, the breakdown is fake.

[Cobra]

vol surge, biggest bar, so rebound, let's see how rebound goes first.

[Al_Dente]

All this with only 1700 stocks declining [edit: 1800]
But down-to-up volume ratio, 1.8-to-1, bear

[Cobra]

OK, bears won without me riding the trend down. the reason bears won today is simple because I covered way too early.