05/21/2013 Live Update

[Unique]

anyone have a read on GLD? looked like a double bottom was about to happen with a good nerve touch of the previous low. but now it's looking like it was a shake fest. FYI - i'm short GLD, and was about to cut my position today.

Keep riding the profitable shorts easy You have an intermediate downtrend that is riding real well. If bulls can't close above yesterday's close in the next few sessions then you know what's up, bears in full control still.
Like I said for silver, bulls never want to bet on a continuation on Fast and Furious - look what happened to the metals, ugly. Note, you might get bored and run away with this shakefest though

[Cobra]

testing green line indeed. not a valid breakdown yet, wait.

[Al_Dente]

We are entering historic territory with the SPX closing for the 12th consecutive day above its upper Bollinger Band (50,2).
This has only happened 25 times since 1928.
…only 25 samples, we should be careful about drawing conclusions from these results
… we see that in the past the rally has been able to continue
… here are all the previous instances:
http://ibankcoin.com/woodshedderblog/20 ... r-bearish/

[jarbo456]

anyone have a read on GLD? looked like a double bottom was about to happen with a good nerve touch of the previous low. but now it's looking like it was a shake fest. FYI - i'm short GLD, and was about to cut my position today.

Keep riding the profitable shorts easy You have an intermediate downtrend that is riding real well. If bulls can't close above yesterday's close in the next few sessions then you know what's up, bears in full control still.
Like I said for silver, bulls never want to bet on a continuation on Fast and Furious - look what happened to the metals, ugly. Note, you might get bored and run away with this shakefest though

Not that easy. I almost got shaken out yesterday, but I held strong to my shorts. I would not have been surprised to see some consolidation here today, small green or red day, but now seeing a reversal of a reversal, if it can hold or go lower, then I'm feeling more confident in my shorts.

[Unique]

GOOG BELOW $900, and on 50SMA 60min. This could get fun for bears. Remember bulls only ride the train if support holds

Key time..

[jarbo456]

GOOG BELOW $900, and on 50SMA 60min. This could get fun for bears. Remember bulls only ride the train if support holds

Key time..

Giving the bulls the opportunity to show some strength at the hourly 50 at 897.20.

Otherwise taking my GOOG calls and running.

[uempel]

Signal in 2 minutes on the 5 min SPX chart ...

[shaca]

USD/CAD is going to break the neck of a 3years H&S with target above 1,14

[Unique]

GOOG BELOW $900, and on 50SMA 60min. This could get fun for bears. Remember bulls only ride the train if support holds

Key time..

Giving the bulls the opportunity to show some strength at the hourly 50 at 897.20.

Otherwise taking my GOOG calls and running.

Yup, bears have a lot to prove still. Market is full of stick saves for bulls and it's risky to short leaders nowadays. I can't find any large caps that keeps making lower lows on daily to short

[Daniel-David]

Intermed. DT timeframe - SPY testing hourly bar 20period MA, ca 166.50

[fehro]

SPX 15m

[Al_Dente]

5min renko

[Cobra]

consolidating here favors bears.

[Richarab]

I am still short FYI

[Al_Dente]

Great chart, lower left to upper right

Then why do I hate this chart?
[Red KRE is there only because the regional banks usually fund most of the domestic building industry]

[Cobra]

resistance area. NORMALLY, there should be a 2nd leg down but you know nowadays bears hardly had 2nd leg down, so wait.

[Daniel-David]

5min timeframe, SPY has created an Elder Value zone with a 40-cent range btw 166.60 and 167.

Implication is of breakout to the upside.

[jarbo456]

I am still short FYI

you said the magic words...aka that you're short.

market decided to sizzle 40 points up.

[Richarab]

Leading indicator

[Xian]

Give 'em hell, Tim.