04/03/2012 Live Update

[uempel]

I showed this chart a few times last week - last signal worked perfectly:

[BullBear52x]

IWM guru, don't guote me on this just for fun. my reversal target none sense.

[Al_Dente]

Thanks bb52x on slv
Holding sds intraday only

[BullBear52x]

Thanks bb52x on slv
Holding sds intraday only

me too.

[Harapa]

My long, intermediate, and short term models (as described in weekend forums) remain in buy mode.

So what'd ya buy this mornin?

My setups are for holding position for weeks to months and are not useful for DT. I am long EDC, TNA and BGU. For DT here is what I am looking at. Looks like a scalping opportunity is on horizon. Look at panel 6 for SP500. I like to wait for a confirmation from R2K.

[TraderGirl]

I showed this chart a few times last week - last signal worked perfectly:

12.png

Nice chart uempel, it hasn't worked that mucc this year because it's been up, up, up.... no volatility...
Hopefully now we can see some volatility action....

[SWalsh]

T-Time hitting now in IWM, the far less manipulated market":

[BullBear52x]

T-Time hitting now in IWM, the far less manipulated market":

right now IWM is the strongest link.

[Al_Dente]

Thanks bb52x on slv
Holding sds intraday only

me too.

OH NOOOOOO
omg
U know what happens when we r on same page
(short covering?)
right now it’s still a flag
If it turns into a BTFD instead of flag I’m out quick

[SWalsh]

IWM guru, don't guote me on this just for fun. my reversal target none sense.

If that is an EW failed 5th you have there, the next word you are looking for is COLLAPSE. And that's not a guess or a hope. When you see a failed 5th like that it means they are quietly selling and the mkt cannot hold the rally and then that money that sold pulls the plug. Failed 5ths are 100% big trades.

I feel like Mike Tyson caught me making fun of his lisp. So I'll lay down so it can drop.

[BullBear52x]

My long, intermediate, and short term models (as described in weekend forums) remain in buy mode.

So what'd ya buy this mornin?

My setups are for holding position for weeks to months and are not useful for DT. I am long EDC, TNA and BGU. For DT here is what I am looking at. Looks like a scalping opportunity is on horizon. Look at panel 6 for SP500. I like to wait for a confirmation from R2K.

since you mentioned EDC, here is what I got .

[Denali92]

IWM guru, don't guote me on this just for fun. my reversal target none sense.

that would MESS a LOT of people UP!

-D

[SWalsh]

T-Time hitting now in IWM, the far less manipulated market":

right now IWM is the strongest link.

"IF" (notice the emphasis on "IF") the T hits, that will change quickly. Nice symmetrical H&S also. We'll see.

SPY under TL. They will normally push it back above. Doubtful we will close here. In the "old days" you could be 200% short here. The old days.

[knurbs]

Who says Elliot waves don't work...

I guess they work sometimes..I just don't understand why everyone seems to have different wave info..Not to many are the same but maybe they all get you there.You seem to be a little more consistant. Thanks for your postings.

Because it doesn't work in today's environment. Period. EW theory is no different than flipping a coin. You are correct that it is open to any traders interpretation so very often the trader is wrong. It's completely impossible to have a reliable trading plan (if ever) using this theory in todays market.

[Harapa]

My long, intermediate, and short term models (as described in weekend forums) remain in buy mode.

So what'd ya buy this mornin?

My setups are for holding position for weeks to months and are not useful for DT. I am long EDC, TNA and BGU. For DT here is what I am looking at. Looks like a scalping opportunity is on horizon. Look at panel 6 for SP500. I like to wait for a confirmation from R2K.

since you mentioned EDC, here is what I got .

Thanks for the input. I may look to hedge my EDC.

[Ed02]

I read the charts as the intrady bottom now. Also it seems 3 push down already. At least there should be some one or two legs or rebound soon.

Believe the low is finally in, per the charts. Think the target will be the intrady high 141.87.
But if the up efforts fail here, the down targets will be pointing to 139.14 and then 138.53 (in the next few days though).

[KENA]

T-Time hitting now in IWM, the far less manipulated market":

Nice chart..I see your dn arrows and looks like they may be right.

[BullBear52x]

Thanks for the input. I may look to hedge my EDC.

it doesn't look all that negative, I just show the level of resistance.

[uempel]

This is a close up of the 60 min signal which is due as from 13:00 pm. Don't know what will happen, but should SPX show strength up to 1422/28ish I'm sure to short it (resp. add shorts):

[Al_Dente]

Baron: Here’s my version of yours
On mine RVX finally confirmed 11:30 ish ish
25ma
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =263240951

and 15 broke
http://stockcharts.com/h-sc/ui?s=SSO&p= ... listNum=15

“never underestimate the power of ……”