05/16/2012 Live Update

[BullBear52x]

a look at summation index when it goes below zero.

It appears over the past five years $NYSI continues move down most of the time after it breaks below 0. But in June of last year it bounced back nicely before continuing it's downturn

Nice chart, I expect a bounce from around here like most of us, but if it doesn't come I just hope that we do not over look anything. GLTU.

[uempel]

[quote="ClarkW"]i think we may have a bearish bat on the dax and NYA weekly



Don't know much about these patterns, know that DAX bounced at 6297 - your 50% Fib points to 6299.

[TWT]

SPX: does this bounce have legs ? The ending pattern of the down leg is very questionable

[BullBear52x]

MO update:

Lol good eye BB I was looking on the same thing few days ago

remember Dr. Copper? see you tomorrow.

[Al_Dente]

SPX: does this bounce have legs ? The ending pattern of the down leg is very questionable

TWT do u mean it should be/should have been a 5-wave down?
Thanks from the non-wave-counters

[ClarkW]

a look at summation index when it goes below zero.

It appears over the past five years $NYSI continues move down most of the time after it breaks below 0. But in June of last year it bounced back nicely before continuing it's downturn

Nice chart, I expect a bounce from around here like most of us, but if it doesn't come I just hope that we do not over look anything. GLTU.

I agree, and I think like you, any bounce will be short lived. BTW, checked out your site for the first time the other day. It's now in my favorites tab!

[snakehead]

It's after 10:30 ===> Amateur hour is over!!
(We used to call it "yahoo hour".)

[KENA]

Liquidity had a dn tick yesterday and is very near crossing the line in contraction..The mkt will continue dn as the liquidity drops..This up spike may not have teeth and may be a bull trap..Lets see.( chart by Stocktiming )

[Mr. T]

FOMC min are in a couple hours...... we should be bullish biased till then right?

The notes could be short, sweet, to the point and in plain English: "order toner".

[KeiZai]

MO update:

Lol good eye BB I was looking on the same thing few days ago

remember Dr. Copper? see you tomorrow.

Yeeeeah nice boss! seeya and enjoy ur day off

[Al_Dente]

FB
PE price/earnings ratio 100x
(depends on price …..)

JPM
Evidently JPM is behind closed doors now, trying to explain the trades to congress-persons.

FOMC minutes
2:00 ET

[MrMiyagi]

FOMC min are in a couple hours...... we should be bullish biased till then right?

[Petsamo]

Bad news?

[TWT]

SPX: does this bounce have legs ? The ending pattern of the down leg is very questionable

TWT do u mean it should be/should have been a 5-wave down?
Thanks from the non-wave-counters

A down leg that establishes a firm bottom has to be impulsive (Elliot Wave wise)

[Cobra]

hopefully and normally, it should not be just one legged. Let's see.

[ClarkW]

i think we may have a bearish bat on the dax and NYA weekly



Don't know much about these patterns, know that DAX bounced at 6297 - your 50% Fib points to 6299.

It was 'shaca' that posted that pic with structure of Bat pattern. I posted a weekly chart of DAX and stated it appears to be a harmonic pattern.

But from my limited knowledge of harmonics it's not a Bat pattern as B is greater than 50% of XA. Possibly a bearish Gartley but I hadn't posted a chart of DAX over the past couple weeks because everything didn't seem to 'line up' in my newbie opinion. http://www.harmonictrader.com/price_patternsgartley.htm

[SWalsh]

"MAYBE"

Anyone familiar with a running correction?

Hang around....or as Betty Davis said, ""buckle up its going to be a bumpy ride".

Algos are dead. A 75 stock one is moving SPY 10-15 points.

[KENA]

The dn trend has spiked up for a possible reverseal but look at the blue line it has not moved up as yet. This has to happen befor a reversal to up..If not then the chart is defective so lets see what is right..If had to make a choice I would lean toward the chart..But lets see.( chart by Stocktiming )

[snakehead]

Bad news?

No, just end of Ostrich Rally.

[TWT]

SPX: Some type of a bottom could be in place with a freaky Ending Diagonal