03/25/2013 Live Update

[SigmaEcho]

nothing to say, this bull shall have legs.

nice daily candle on DAX

[TumblingDice]

http://finance.yahoo.com/advances

Not much happening in the world of internals: 57% up volume and 34% down volume on the NYSE. Let's see what happens after the gap close.

[Cobra]

pullback is sharp, I'm nature here, need see more bars. Normally it's not good but nowadays we simply see too many morning dip being bought aggressively, so I'd watch for a few bars.

[Out of Bounds]

long 155.40

[Cobra]

volume surge and support area, so might see rebound first. then NORMALLY should be another leg down.

[TraderGirl]

This structure could be done...at least I hope

O: viewtopic.php?f=2&t=864&p=123970#p123970

R-c.png

sometimes 5 waves play out in an abc wave structure...don't be too sure it's done..

[TraderGirl]

Last week's bull flags played out....

[TraderGirl]

XIV...now could be a wedge...??

[KeiZai]

This structure could be done...at least I hope

O: viewtopic.php?f=2&t=864&p=123970#p123970

R-c.png

sometimes 5 waves play out in an abc wave structure...don't be too sure it's done..

I am ok with that in the worst case I can cover at BE and try it again after another 5w

[Cobra]

members only update at 11:06 am
http://www.cobrasmarketview.com/2013/03 ... ay-update/

[TraderGirl]

Wedge on RUT??

If you don't understand wedges...check out Bulkowski's site
http://www.thepatternsite.com/abw.html

Edit: Sorry this was not a good link...here is a better one...Elliott wave calls it an expanding triangle...if you want to understand wave counts...
http://www.wavetrack.com/articles/ellio ... terns.html

[JFR]

Anyone else catch part of that waterfall on SPY? I caught just a part of it. I was watching something else, but caught the last part of it as a scalp. Lucky I got back from the kitchen in time. LOL

[Cobra]

still expect 2nd leg down. more over, if this rebound fails, the green line below gets revisited, it wouldn't hold as simply it's being tested too many times.

[Cobra]

members only update at 11:16 am
http://www.cobrasmarketview.com/2013/03 ... ay-update/

[JFR]

I wouldn't mind seeing a good pullback. Take some heat out of the market. Set up some value plays.

Very nice pick on LL, Cobra. For the first hour anyway until the market headed south. I will have to pay more attention to your picks.

[JFR]

LL ... from Cobra's picks ...

[Cobra]

the support was taken as expected. there's not even a meaningful rebound, so the 2nd leg down call still valid.

[TumblingDice]

http://www.zerohedge.com/news/2013-03-2 ... e-tumbling

This new guy heading the Eurogroup, Dijsselbloem, apparently likes taxpayers and hates banks. Seriously this is market moving news if it leads to actual policy change in Europe. The next few bail outs are going to be "bail ins" instead and the tab will fall on the bond holders and shareholders of the banks instead of the taxpayers, much to the dismay of the bankers. This should lead to a fair bit of restructuring in the European financial sector.

[Cobra]

on global ES, we can clearly see 3 push up, so it also argues for a 2nd leg down.

[quientuves]

Not only share and bond holders, but customers too... deposits, as in Cyprus...

European Bank run in 3,2,1...