05/29/2012 Live Update

Petsamo · Post by **Petsamo** » Tue May 29, 2012 11:36 am

CarlosDK wrote:Markets Weak !

Germany (EWG) went back to where we found her

Sleeperz · Post by **Sleeperz** » Tue May 29, 2012 11:36 am

UUP on the 5 minute chart bounced off 22.72 twice and has headed back up since . Currently 22.79..
SPY and commodities started down at the same time.

Post by **Cobra** » Tue May 29, 2012 11:38 am

I'm disappointed, the rally in the morning once again failed.

CarlosDK · Post by **CarlosDK** » Tue May 29, 2012 11:39 am

Cobra we still got the "higher high" or higher push as you talked about ? And you said something with many traders looking for downside near term?

Post by **Cobra** » Tue May 29, 2012 11:40 am

volume surge, biggest red bar, hopefully a rebound of some kind here, then we'll see.

Claire · Post by **Claire** » Tue May 29, 2012 11:41 am

anyone know of any news that sharply reversed the dollar? thanks

Richarab · Post by **Richarab** » Tue May 29, 2012 11:41 am

CarlosDK wrote:Cobra we still got the "higher high" or higher push as you talked about ? And you said something with many traders looking for downside near term?

as report noted - could that be the intraday high before the down move

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Al_Dente · Post by **Al_Dente** » Tue May 29, 2012 11:43 am

that little p-bar closed the gap from 5/14

Al_Dente · Post by **Al_Dente** » Tue May 29, 2012 11:46 am

elevator sqeeez on ZSL
[edit: also on DZZ, SCO]

Richarab · Post by **Richarab** » Tue May 29, 2012 11:47 am

Nya off the cliff
VIX moving green quickly

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Petsamo · Post by **Petsamo** » Tue May 29, 2012 11:48 am

I bought back my XME. Unofficial short increased my cash by $44.24

67Chevy · Post by **67Chevy** » Tue May 29, 2012 11:50 am

The hourly chart looks familiar...bear flag forming?

Post by **Cobra** » Tue May 29, 2012 11:57 am

CarlosDK wrote:Cobra we still got the "higher high" or higher push as you talked about ? And you said something with many traders looking for downside near term?

The higher high might have already been fulfilled. I'm not sure, bears need do more to convince me that indeed the rebound has failed.

I didn't say many traders looking for downside near term.

Post by **Cobra** » Tue May 29, 2012 12:01 pm

fighting on the support, bears need do more to convince me that indeed the rebound has failed.

rpccharts · Post by **rpccharts** » Tue May 29, 2012 12:03 pm

No Volume rally on dead cat bounce... now we can test those last Oct weekly lows - Europe banks are getting run on. Depression style.

Al_Dente · Post by **Al_Dente** » Tue May 29, 2012 12:03 pm

UUP goes honey-badger

[thanks clarie]

6 minutes ago, behind the curve aready
Stocks higher on hopes for China stimulus
“ (AP:NEW YORK) Hopes that China will rev up its economic growth machine are sending stocks higher on Wall Street.
The Dow Jones industrial average rose 85 points to 12,592 as of 11:45 a.m. Tuesday.
The prospect that China could reverse a slowdown in its growth led investors to buy stocks of major industrial companies that do significant business with the country. Caterpillar and Alcoa were among the largest gainers in the 30 Dow stocks. China is the largest market for aluminum, which Alcoa makes, and Caterpillar recently said it is aggressively courting China to sell its construction equipment.”

MrMiyagi · Post by **MrMiyagi** » Tue May 29, 2012 12:05 pm

Facecrook now below 30$.

KENA · Post by **KENA** » Tue May 29, 2012 12:06 pm

Glad I did not get excited this morn..Looks like the spy P bar won't be in play today..Mkts weak now so lets see where it will take us.

TraderGirl · Post by **TraderGirl** » Tue May 29, 2012 12:07 pm

GDX....wave 4 completion??

Post by **Cobra** » Tue May 29, 2012 12:07 pm

trend line support here, bears still need do more.

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