08/31/2012 Live Update

[joe-gamma]

Whoah!! I just woke up and saw the price action....I didn't believe my chart that showed this kind of price action, but here it is, just like my chart shows...if my chart continues to be correct, we continue to move up, then another spike down (possibly lower, don't know the levels), then a choppy move up the rest of the day...

Anyone see that coming??? wait...

you go girl!
and Thanks!
maybe oversleeping got you in the groove


waiting for higher highs to sell bearish divergence early next week

[SB73]

and here comes the 3 hour bear flag????

[OverUnder]

Gold very impressive test of early April highs. I keep forgetting to buy gold since 150 bucks lower.

[TraderGirl]

NUGT's price action...if it stays within this channel...makes me think we will get a move down on Monday...??

[joe-gamma]

30min
Unless we can decisively break above that top channel line, I will call that a price “trap” ??? (pink arrows)

831thirty.png

add that to (Harapa? ) divergence of aus/yen on 60 minute and looks like we will spend some lunch time below vwap !

[Al_Dente]

Gold very impressive test of early April highs. I keep forgetting to buy gold since 150 bucks lower.

[TraderGirl]

SPX potential bear flag within a descending triangle...perhaps we stay within this pattern and then break down after Aug 7th, a major turn date...??

If we should fall below the lower trend line...the shaded area could act as support..1355-1385....

[Cobra]

so far looks like a bear flag but it can be changed, I'm tired of calling flag now.

[TradingJackal]

The Forexpro feed is not right so can't chart it right now. My brokers account showed we reached 1412 in pre-open that we did not breach yet. Maybe we are putting in a triangle right now.

[OverUnder]

Central bank heads to get bond proposal from ECB Sept. 4 just prior to ECB rate decision Sept. 6 breaking news. Checking for source.

[victorm]

Gold very impressive test of early April highs. I keep forgetting to buy gold since 150 bucks lower.

Sold HGD 11.09 2+% and bought it back at 10.67...

[OverUnder]

HGD? No findie symbol.

[TraderGirl]

XIV closing in on an important support line...

On 5 minute, attempted to get above a resistance line this morning and failed...now sitting under...

[Al_Dente]

HGD? No findie symbol.

dot TO toronto

[Petsamo]

This might be a fake bear run

[Cobra]

indeed bear flag. I'd be happy if it could reach fib 61.8% target at $140.54.

[Al_Dente]

PAGING JOE GAMMA
Search the net for analyst’s blabla about august back-to-school and its implications for XLY
Evidently some parents still have cash (plastic) to buy pencils (iPads) for the kids.
I’m just going to rely on what the xly/xlp offensive defensive ratio is telling me at the mom...

[Cobra]

lunch time, will be back. 61.8% target is possible.

[TraderGirl]

1401ish?? for wave v?

[TradingJackal]

Divergence to the upside on ES on 5 min chart. Since the longer term trend is down now, it may not mean much to the upside.