04/18/2013 Live Update

[shaca]

isn't that an head and shoulder on spx 15'?

[BullBear52x]

Watch /es 1540, fails there the selling to continue. a trade above 1547 I see a possible push up to upper wedge. right now I am bearish, sell that is.

[wayne0708]

if no huge up today, i will short again by close because yesterday TRIN was extremely high.

[KENA]

Looks like we may be green today..Keep in mind the up P Bars yesterday.

Kena,what were the p bars?

IWM..91.67 and SPY 157.40

[ALdaytrade]

Reminder of the time signal on SPX 60min - approx 3:00 p.m.

67.png

Can you give further explanation for this pattern? Sorry for the nuisance.

[stlwater]

Well I got rid of my GDX widowmakers, and the take away lesson here is to never touch that symbol again... unless it paints a very compelling bottoming setup.

No bloodbath as expect after a weak rebound so out of IWM puts and loaded up on VXX puts.

Maybe I'm wrong but you just might have sold the bottom. Time will tell.

It's entirely possible, but I'm sure there will be a retest sometime in the future. Maybe I'll add a few way OTM July calls here just for fun.

I posted this for someone yesterday.. take it for what it's worth. It's a reg channel that's been darn accurate. Couple the lower reg trendline hit with the velocity of selling to get there, oversold, outside bb, etc.. You have the makings of a "v" shaped trend change. I placed a buy at $27.49 my EMA 8.. so I'm good either way on that count. I am underwater with a small starter position from Tuesday evening but that's getting averaged out now (-.6%). Again this is a long term entry for me. I'm prepared to give it a little room to breath (on my initial position).

[johnnywa]

Looks like we may be green today..Keep in mind the up P Bars yesterday.

Kena,what were the p bars?

IWM..91.67 and SPY 157.40

thanks,

[TumblingDice]

isn't that an head and shoulder on spx 15'?

It looks like a possible H&S I think, but it only becomes one if the neckline breaks.

[TWT]

$VIX: Potential BB buy equity signal if eod print below BB

[flrtrader]

Watch /es 1540, fails there the selling to continue. a trade above 1547 I see a possible push up to upper wedge. right now I am bearish, sell that is.

My thoughts exactly long with finger on button at 47

[TumblingDice]

Well I got rid of my GDX widowmakers, and the take away lesson here is to never touch that symbol again... unless it paints a very compelling bottoming setup.

No bloodbath as expect after a weak rebound so out of IWM puts and loaded up on VXX puts.

Maybe I'm wrong but you just might have sold the bottom. Time will tell.

It's entirely possible, but I'm sure there will be a retest sometime in the future. Maybe I'll add a few way OTM July calls here just for fun.

gdx1.png

I posted this for someone yesterday.. take it for what it's worth. It's a reg channel that's been darn accurate. Couple the lower reg trendline hit with the velocity of selling to get there, oversold, outside bb, etc.. You have the makings of a "v" shaped trend change. I placed a buy at $27.49 my EMA 8.. so I'm good either way on that count. I am underwater with a small starter position from Tuesday evening but that's getting averaged out now (-.6%). Again this is a long term entry for me. I'm prepared to give it a little room to breath (on my initial position).

Hmmmm you may be right. I've bought some July calls on it, and if it comes back to below 28 there might be the makings of a good week two week trade there as well, as there's a chance of a higher low. I can't chase it now though, need a good entry.

[Cobra]

we're here.

[TraderGirl]

Don't know if I have ever seen a double top on the VIX lower high, yes...but not normally a double top...seems it should get a spike up before heading lower....

[TraderGirl]

Possibly Dow wants to test this support?...14,480...

[BullBear52x]

My thought on SPY, see RSI, can not make above 50, bulls will have no chance today.

[uempel]

Reminder of the time signal on SPX 60min - approx 3:00 p.m.

The attachment 67.png is no longer available

Can you give further explanation for this pattern? Sorry for the nuisance.

Price touches the right border of the blue ellipse at 3:00 p.m. - it's like price touching the outer trendline of a channel: what follows is a) either a break to the upside or b) a break to the downside. Consider an ellipse a channel giving info on the y-axis and on the x-axis (whereas channels focus on the y-axis).

Of course the system does not provide a direction - just like the outer border of a plain channel doesn't give any indication if price if going to reverse or to break to the upside. What we do know is that there will be a good move

[BullBear52x]

When i called out for 1528 that was pretty conservative target, really my greedy eyes were looking at 1516. no matter what, a stops is tight for me.

[Cobra]

key time, if no rebound here, then it's just a range day, no pattern lasts long. wait.

[johnnywa]

cooked

[uempel]

Check today's low at the lower trend line of the November 2012 channel