05/21/2012 Live Update

[TraderGirl]

Is there any news tomorrow that could cause a gap down??

[MrMiyagi]

I heard rumors of a minor Power Hour today.

[CognitiveDissonance]

Somebody mentioned volatility so I thought I'd post a couple of charts. Sorry been gone for a looooong time.

Am I the only one who thinks that this looks like a retest of neckline after a (reverse) H&S break(out).
Or maybe even (and/or) cup & handle?

It looks like it could be headed to the neckline.

[dr659]

key support but I believe this is at least a 2 legged pullback.

Consolidation above this support is good, No

[Cobra]

rejected on the high again, but still this is not the 2 leg pullback I was expecting. now let's how the price unfolds here first. I'm neutral.

[dr659]

Quick new HOD then fast retreat

[Cobra]

the wild-est-est-est guess should be 2 legged down here, pretty much everything goes as planed earlier.

[BullBear52x]

This is not bull friendly, a day like today should be more exciting, with this TRIN behavior bears can take back the ball easily, keep in mind one day doesn't make a trend and we are well under 5dma. JM2C

[TraderGirl]

What are your thoughts Cobra, does this look like a continuation up or down???

We could be up into Wednesday, but I don't know if we get a pullback tomorrow first...??

[Petsamo]

Is there any news tomorrow that could cause a gap down??

We're sitting high. Overseas might sell this and we gap down.

[MrMiyagi]

I had mentioned volatility earlier due to big red candles on VXX, VIX and TVIX but I guess I should have said fear has left (short term).

[BullBear52x]

Lookie here, bears are now clawing back, TRIN is above 1 and SPY/SDS 233ma view here is a start of weakness.

[dr659]

I heard rumors of a minor Power Hour today.

Hope so, Power Hour always makes for a better Happy Hour

[dr659]

I heard rumors of a minor Power Hour today.

Hope so, Power Hour always makes for a better Happy Hour

No longer short , exited a little too early mid. last weak

[Chrys]

Cobra - could you please take a look at silver (SLV) and tell me what you think short term. Thanks

[BullBear52x]

TVIX intraday suggest buy.....

[CognitiveDissonance]

TVIX intraday suggest buy.....

sweet...

[Cobra]

the 3rd try, so now the bias is up. it took very long time for me to load the stockcharts chart so it appears very late now...

[Petsamo]

It's best if they finish this at the highs. The probability of a gap down is higher.

[BullBear52x]

Thanks Cobra and all, GLTA

TA note: So far buyable bottom with tight stops, there is more positive signs, but right now intraday is a little extended. I am selling TNA still, will buy the dip tomarooo if it manages to move higher.