04/02/2012 Live Update

[stucap]

bigger ascending triangle, the bias is still up.

So I bought the first breakout --- ES 1404. And sold at 1408.50 thinking I top ticked this bizatch but, nope. Turns out I missed the big move of the day. Can't justify going long here though. No reason to chase. The triangle is small anyway. Breakout should be marginal.

[johnnywa]

many many more big opps. coming,move on to next opportunity.Should have nice shorting opportunity 1427-30.Look for top tomorrow than down.

[Cobra]

not an valid breakout yet, but no harm to know the target.

[johnnywa]

We gots us a car going 100 mph can't slam on breaks mabye 1428 by time we slow down ???

[Cobra]

breakout.

[TraderGirl]

This wave looks like it could be in it's final counts...

[Cobra]

anyone use NinjaTrader with IB? How come I don't have SPY/QQQ/IWM? I can only have individual stocks as well as some eminis.

[Carlos]

Been waiting all day for the this do go down.... looks like its not going to happen today... I wonder if it will open lower tomorrow...

[johnnywa]

by TraderGirl » Mon Apr 02, 2012 1:57 pm

This wave looks like it could be in it's final counts...

1428 tomorrow a high ,4/3 turn

[KENA]

It will becoming to an end soon..Any bets which way???

sc-4.png (26.69 KiB) Viewed 3589 times

[stucap]

It will becoming to an end soon..Any bets which way???

sc-4.png

Wait, you've never heard of the bullish rising wedge or ED?

[SigmaEcho]

anyone use NinjaTrader with IB? How come I don't have SPY/QQQ/IWM? I can only have individual stocks as well as some eminis.

tools > instrument manager > NEW.
master instrument: add SPY or QQQ or IWM

exchange: select ARCA
symbol map value, under IB: add SPY QQQ or IWM

[MrMiyagi]

Nah, this thing's gonna rise indefinitely...

[Ed02]

It will becoming to an end soon..Any bets which way???

sc-4.png

More up I think. Check the 10day10min plot (plus RSI(14)), it suggests there is more up as the RSI(14) is still less than 75. I observe that SPY won't drop unless its RSI(14) is over 80+ (while SPY could still rise quite a bit) even after RSI dips a bit recently.

[gvg]

It will becoming to an end soon..Any bets which way???

sc-4.png

hmnn, generally april is very stong month, so i guess we will have to wait till early may to get any meaning full correction.

[proteus46]

SPY ----> I'm expecting $144.11 using the:

High during week of 10-12-2007
Low during week of 03-06-2009

fibonacci .86

[johnnywa]

It will becoming to an end soon..Any bets which way???

sc-4.png

More up I think. Check the 10day10min plot (plus RSI(14)), it suggests there is more up as the RSI(14) is still less than 75. I observe that SPY won't drop unless its RSI(14) is over 80+ (while SPY could still rise quite a bit) even after RSI dips a bit.

What does that target spy at?

[SWalsh]

Thanks very much. Here the plot:

SPY_10d10m_PD_for_20120402.JPG

I can still feel there is more up, so long as the RSI(14) is less than 80. In fact, the longer it dwindles under 70, the more violent SPY will go up. So it seems it may not have enough time to spring up to the upside today, which will imply it will set off the force in the next few days.

What you are seeing is something that a lot of people look at on a closing basis. If the Bollinger Bands have tightened, there is a good chance of a decent gap. What I have not found, nor do I know of anyone else finding, is determining which way the gap will occur.

Also, what happens more than not is the mkt gaps on the opening, that's it, and it sits dead all day. There have been a few moves where after a .75-1% opening it pulls back a bit, and then attracts more activity, but it's not as common as just sitting here from what I have looked at.

[Cobra]

anyone use NinjaTrader with IB? How come I don't have SPY/QQQ/IWM? I can only have individual stocks as well as some eminis.

tools > instrument manager > NEW.
master instrument: add SPY or QQQ or IWM

exchange: select ARCA
symbol map value, under IB: add SPY QQQ or IWM

Thanks. it worked.

[TraderGirl]

by TraderGirl » Mon Apr 02, 2012 1:57 pm

This wave looks like it could be in it's final counts...

1428 tomorrow a high ,4/3 turn

If we sell into the close, we may open higher in the morning to attempt a new high, but we "could" turn in the morning...?? There is a turn date this week either Tues or Weds, but it may be tomorrow morning....??? Don't know anymore, what has worked before, works only slightly now...