08/07/2012 Live Update

[jdow]

QQQ hod hi on day sqz

yep, im sqz out for now. tried to front run. WRONG

[Cobra]

not a valid breakout yet, but this push up is strong, so I guess the breakout would be no problem.

[BullBear52x]

If intraday doesn't make money selling here I don't know what will.

[Cobra]

breakout, but it could be an exhaustion bar, so might be pullback here, then another leg up normally.

[Al_Dente]

Classic short squeeze QQQ now in progress
We are on sqz bar #7
5min
First stick that CLOSES red or CLOSES red with a low that is lower than the last bar… will cancel the sqz, or at least it will require re-evaluation….

[EvilTrader]

nasdaq futures up 27.50. Already easily besting the earlier morning high. As I said yesterday, easily go up 100 points this week. Naz is the leader.

No Nazi propaganda allowed.

[jdow]

If intraday doesn't make money selling here I don't know what will.

i agree, i nee to wait a bit though. CCI is my primary indicator btw...

[Cobra]

assume target SPY $141.

[jdow]

nasdaq futures up 27.50. Already easily besting the earlier morning high. As I said yesterday, easily go up 100 points this week. Naz is the leader.

No Nazi propaganda allowed.

actually IWM leading

[EvilTrader]

Wheres breadth ??


Who took the Brea(d)th Away ???

http://www.youtube.com/watch?v=NEOem7U2LPE

[Al_Dente]

QQQ
It’s not quite an “elevator” squeeze as the sticks are small to medium size (stubby)
Hi/low tails (shadows) don’t matter much, only the CLOSE matters, but the high on this stick MUST be higher than the high on the last stick
……….. if not, that means that the sqz is relaxing………but not yet

[Al_Dente]

5 min doji close QQQ = sqz is relaxing just a smidge......still green

[Al_Dente]

wow same sqz spy but 2 red sticks = no no no

[Daniel-David]

NR 7 bar, QQQ 5min chart..

[Al_Dente]

Q
doji, doji, doji
weak azzzzzzz sqz
5min

[Al_Dente]

NR 7 bar, QQQ 5min chart..

hi daniel
what is NR?
thx

[pezhead9000]

FWIW: WSJ Money Flow goes negative http://online.wsj.com/mdc/public/page/2 ... yflow.html

[OverUnder]

I think I've heard some talk about how this leg up isn't as steep as the last leg up, too much churn/chop, suggesting this rally is in jeopardy.

Don't believe everything you hear.

Weekly chart. Yellow lines are parallel channel and have exactly the same slope up. This leg up, for the past month is equally strong as the rally started in December. In fact, it is on much higher volume.

[Al_Dente]

Ok everythings gotta relax occasionally
And maybe test some MAs
Like for example maybe Q

[EvilTrader]

I think I've heard some talk about how this leg up isn't as steep sa the last leg up, too much churn/chop, suggesting this rally is in jeopardy.

Don't believe everything you hear.

Weekly chart. Yellow lines are parallel channel and have exactly the same slope up. This leg up, for the past month is equally strong as the rally started in December. In fact, it is on much higher volume.

Do you read it as a bear flag ?