08/26/2013 Live Update

[BullBear52x]

someone said less AAPL post? AAPL couldn't make new high from the last buy signals a weakness, aggressive bears are looking for a sign like this before a counter trend move.

[Out of Bounds]

GO down already!

[joegamma]

GO down already!

ahh, I miss owning Akitas, the greatest family dog! and they eat the neighbors animals too...

[Cobra]

so far looks like a bear flag.

[licai5688]

L_T:

Thanks a lot!

Licai




by L_T » Mon Aug 26, 2013 1:53 pm

I think I got this from someone here:

Notes on Al Brooks' Price Action Trading

Al Brooks' style of trading is based on price action only. He does not look at any technical indicators, only candle sticks, trend lines, and moving averages. He trades mainly S&P futures, but I am trying to apply the techniques to stock equities (SPY).

[fehro]

someone said less AAPL post? AAPL couldn't make new high from the last buy signals a weakness, aggressive bears are looking for a sign like this before a counter trend move.

minor interday H&S on AAPL.. neckline breaks target $504.. 10 day H&S on chart below.. neckline break on that $483ish (updated the chart .. first one was 2hours old)

[BullBear52x]

If you are permabull or permabear this chart here can be used as self adjustment tool, use this chart to align your bias

[Al_Dente]

Nyadv 1600
Nydec 1300
But if this wedge break is for real [thanks Fehro], and not a trap, the blue box would be the target

[Cobra]

testing pullback low, key time.

[fehro]

downside move may accelerate SPX 5m.. on interday neckline

[seemore]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

[fehro]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

Really needs to break up. other wise retest the 50 day?... it's up over 100% from the lows.. (Gold up 30%) that's a pretty huge move in a short period.. mind you any Syria news involving cruise missiles could change all that. Also not being a gold bug what are the seasonal moves usually in gold? summer vs fall? .. Anyhow just another look. That daily candle will probably be a doji, or a gravestone. fwiw.

[Al_Dente]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

50/100 ma
Agree
But it must not fail at neckline re-test…. else...
edit: GDX

[Cobra]

still fighting. cannot breakout then it's double bottom. I put targets on either side on the chart.

[Out of Bounds]

Almost 10PM in Syria.

[L_T]

Almost 10PM in Syria.

Huh?

[MrMiyagi]

Almost 10PM in Syria.

Is it close to their PH? Or just curfew...

[seemore]

My two cents on GDX/NUGT is that when those moving average lines you (Al Dente) have there (what, 10 day/30 day?) cross, we should be seeing the break thru a few of us have been waiting for. I am optimistically hoping later this week we cross that tri/quad top and the moving average bullish crosses coming up with the index weakness I think is the power we need to get it.

Really needs to break up. other wise retest the 50 day?... it's up over 100% from the lows.. (Gold up 30%) that's a pretty huge move in a short period.. mind you any Syria news involving cruise missiles could change all that. Also not being a gold bug what are the seasonal moves usually in gold? summer vs fall? .. Anyhow just another look. That daily candle will probably be a doji, or a gravestone. fwiw.

I'm relying on others for this, but supposedly September is the most bullish month for gold, around 2% gain on average. Remember the huge move down in gold and vdx earlier this year, so I think easier to regain. As for Syria news, I think any negative world event will only help gold, e.g. bad housing data was good for gold last week.

(and thanks Al for the MA info)

[MrMiyagi]

!!!!! POWER HOUR !!!!!

[L_T]

Almost 10PM in Syria.

Is it close to their PH? Or just curfew...

Note to self: power hour in Syria starts at 10 pm ET!