05/09/2012 Live Update

[Cobra]

by the way, the Bump and Run pattern indeed worked again.

Cobra, How do you read the bump and run on the chart?

Did you see the trend lines on the 5 min chart, that's bump and run.

[Cobra]

Cobra:
RE: CPCE
I posted this chart for you a couple of months ago.
I haven’t seen it signal since late December.
Inverted $CPCE buy signal (green circle) when dots fall outside the shaded “zone”
Like most indicators it has its share of fails (dotted blue lines) but it’s often within range

59cpce.png

thanks. I wouldn't use an absolute value of CPCE as trading signals because it has different range in different period, so for CPCE, you can see me using "Normalized" value.

[MrMiyagi]

Yesterday late afternoon there was a p-bar on QQQ at 63.75$ and this morning QQQ bottomed at 63.72$.
So far.. not to say it won't crack right through later.

[BullBear52x]

Cobra:
RE: CPCE
I posted this chart for you a couple of months ago.
I haven’t seen it signal since late December.
Inverted $CPCE buy signal (green circle) when dots fall outside the shaded “zone”
Like most indicators it has its share of fails (dotted blue lines) but it’s often within range

59cpce.png

they better turn thing around now the longer they take the worst it look. see NYSI, don't want to drop below zero, NASI already is.

[TraderGirl]

Nice call Cobra!! That's why we are all here!!

Looks like we rebound later, but whatever we do should be subdued, could get a "B" wave up into tomorrow, then Friday into the 14/15th we could get another "C" wave down, to what levels I don't know, but we could be getting a trough by the 15th. There is a Merriman high probability turn date on the 14/15th for all markets. This could correlate to a 4% or more reversal, so if we are at 1335 or 1440 by next Tuesday, then we could rally to 1388 to 1393. I am estimating we get to this level around May 20-22nd, then we should get more sharp reversals...

[Cobra]

rebound on touch of yesterday's low. cannot believe we'll have another bullish reversal day.

[Al_Dente]

This was my concern last night reviewing dailies
When the indices broke the late April lows, banks and aapl held…
THIS MORN THE BANKS BROKE
(if appl breaks $555.00 its low 4/24 the day before eps beat = toast)

[Cobra]

anyone read this as descending triangle?

[Mr. BachNut]

Short.
If we get below yesterday's lows, we might start to see some panic selling.
Looking for a capitulation...it would be impressive if the bulls could pullout of this without one.
Let's watch and see.

[locotero]

anyone read this as descending triangle?

i read that !!!!

[locotero]

15 min chart

[Petsamo]

Maybe today is when we rally until Europe closes. Then we dump. No more Mr. nice guy for US.

[BullBear52x]

was yester's LOD = 134.92? anyone please confirm this. TIA

[MrMiyagi]

was yester's LOD = 134.92? anyone please confirm this. TIA

Yes.

[Al_Dente]

1 min

[Mr. BachNut]

One thing to be aware of.
Treasury auctions (10s and 30s) today and tomorrow at 1pm.
Absent other drivers, it is not unusual to see treasuries and $ dip and equities rally around auctions.
Hard to say if it will be a factor today.

[BullBear52x]

One thing to be aware of.
Treasury auctions (10s and 30s) today and tomorrow at 1pm.
Absent other drivers, it is not unusual to see treasuries and $ dip and equities rally around auctions.
Hard to say if it will be a factor today.

My read as long as we have new daily lower lows daily will not trigger a buy.

[ClarkW]

1/4 position started on NUGT @ $9.2 (newbe, do not follow)
$BPGDM close to 10, nice risk/reward last couple times this happened imo

[pezhead9000]

Spy pivot points

Ironically, we yesterday we had Spy block buys @ +.5B and Spy Jun OI p/c @ 2.250 (which is trending down)

[Cobra]

I don't read it as a confirmed descending triangle break down yet, but it doesn't look good.