07/12/2012 Live Update

[KENA]

This last push up completed the first leg of an inverted dome."U".The next target 133.80 then 134.40.This is a long shot but let see .Maybe nothing will come in and spoil it.

[Cobra]

cobra ... can we count AAPL double top? or any pattern in shorter time frame?

no, it's not double top.

[Al_Dente]

We finally got some decent down volume
But note here how quickly it evaporated (red “area” behind $VIX on the top panel)
Bears need to see it move UP

[TraderGirl]

Tradergirl,
Just dropped the kids off at summer care and got into work. Thanks for the warning about UVXY - it sure did drop fast! Your charts on NUGT are awesome!

If you have to work and can't keep your eye on it, then I wouldn't suggest it, unless we are in a downtrend as we were in May, but we probably won't get something like that again until Jan-May 2013...

[Harapa]

The Tick chart helps understand the short-term health of the NYSE. The red line is the 3-day EMA, and the light blue line is the one-day EMA. A climbing red line above zero is a sign of a healthy market. Crossovers of the 1-day and 3-day EMA's in either direction can detect short-term trend changes.

[CognitiveDissonance]

TraderGirl,
Do you think the $8 low in NUGT is the low for now???

I am wondering the same thing...Looking at GDX we are right at that trend line support, but the wave count says we could be in a wave 5, which would give us a new low...but knowing we could be getting another correction in August I would not be surprised to see it bounce here, then make the new low in August...I can't tell you, have to see if it maintains this support line...

I don't want to get in trouble with tradematti...

I wouldn't worry about him, 8 posts and 2 of them are trolling. He'll figure it out or find the future ex-crystal ball somewhere else.

Just keep posting your charts

[JB007]

" more rebound, low was in " what a jocke............

I follow Cobra's calls. Paid for my Cobra subscription for the rest of my life in the last month alone. Nobody can call the market hour by hour perfect every day. Take a stop loss and move to the next trade, that's what I did.

Thanks. I don't know what's going on. It's just one day call yesterday, I said "there're some chances the low MIGHT BE IN" and I showed the chart why we might have a rebound "SOON". If this counts as wrong, well, go find other newsletter writers. Rarely people can call market in this details like I do. So I really don't know what is going on here.

No problem. I front run on your call all the time. I don't know the exact number but the win rate is over 50% easy. Keep up the great work Cobra you have a loyal following, we're just quiet sometimes.

[TradingJackal]

Testing 1333SPX from below? If it break upwards and holds, that would be very bullish, otherwise last kiss goodbye. The onus is on the buyers (if you can find them!)

[CognitiveDissonance]

I SPY a staircase climb up on the 15min. Lower volume on selling than on buying...FWIW

[Cobra]

" more rebound, low was in " what a jocke............

I follow Cobra's calls. Paid for my Cobra subscription for the rest of my life in the last month alone. Nobody can call the market hour by hour perfect every day. Take a stop loss and move to the next trade, that's what I did.

Thanks. I don't know what's going on. It's just one day call yesterday, I said "there're some chances the low MIGHT BE IN" and I showed the chart why we might have a rebound "SOON". If this counts as wrong, well, go find other newsletter writers. Rarely people can call market in this details like I do. So I really don't know what is going on here.

No problem. I front run on your call all the time. I don't know the exact number but the win rate is over 50% easy. Keep up the great work Cobra you have a loyal following, we're just quiet sometimes.

Thanks. Well, I'll just let it go.

[SWalsh]

Let's do a pullback

Is that like "The Time Warp"?

http://video.google.com/videoplay?docid ... 8088648679

[SWalsh]

Is there a Gartley Expert in the house?

[Al_Dente]

Ok fine then here’s my TWEAKED benandlloyd 5min SSO renko, with 10 cent boxes
I don’t get a clear buy signal yet, it’s still a counter-trend flag…on a sell signal
But then I have my signals set for late entry and early exit…….. oy
INTRADAY ONLY

[Cobra]

not sure, just a wild guess. the tinted area should be the mini rebound target.

[ClarkW]

Is there a Gartley Expert in the house?

I'm not an expert but he's some info on Gartley's http://www.harmonictrader.com/price_patternsgartley.htm

[Al_Dente]

HARAPA
U really have GREAT charts
Thanks 4 sharing them

[Unique]

Potential, but low probability..

20EMA on 5min must hold for both to have any significant chances

Gap fill, both AAPL and SPY, 604 and 134.3 respectively.

[TraderGirl]

I don't have a crystal ball, but I am merely speculating...FAS comprises of financials which makes up a large part of the SPX, so looking at the long term chart of FAS is very bearish...

Has the potential to bounce at the support, maybe retest the broken channel...would set up for a bear flag with two touches on upper channel, two on lower....??? Remember, just speculating....

Below the ST support line, would invalidate...

[TraderGirl]

Be careful on GDX/NUGT....when we get a bounce on TSI, the next bounce could have pos d on TSI, but MAY (not WILL) result in a lower low....

[SWalsh]

Thanks. I don't know what's going on. It's just one day call yesterday, I said "there're some chances the low MIGHT BE IN" and I showed the chart why we might have a rebound "SOON". If this counts as wrong, well, go find other newsletter writers. Rarely people can call market in this details like I do. So I really don't know what is going on here.

I am completely innocent and I'm quite sleep deprived which is when I'm best to taunt...Where's Mr. T...I pity the fool!