05/17/2012 Live Update

[MrMiyagi]

$TRIN a bullish 0.56? WTF?

[uempel]

I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

What news are you expecting tomorrow?

Option expiry (3rd Friday of the month)

[L_T]

I know most of you guys don't "work" in the longer time frame but I noticed CLF yields almost 5% now. For a long-term or IRA account could be good to pickup once it forms a bottom. Of course who knows when that will be but a lot of the commodity and energy names are more reasonably priced than they were just a month ago. The economy WILL turn around eventually...........

[Petsamo]

I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

What news are you expecting tomorrow?

Option expiry (3rd Friday of the month)

OK Thanks

Break

I sold my F at 10.22. Someone needs to tell F which way down is

[TraderGirl]

I'm still targeting a lower low:

88.png

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

TraderLady, I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

Agree. Wonder how much of a relief bounce it will have. One reason for a bounce would be that XLF is sitting at this support level, but FAS is consolidating under the same support....

Head of Credit Suisse TA in London on CNBC, he now targets 1300 and 1290 after reading our posts here on Cobra's forum. But he didn't mention us, just stole our TA ideas...

No credit where credit is due, what's new..???

[TraderGirl]

I'm still targeting a lower low:

88.png

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

515?

I say 545 before close today.

Hmmm....I don't see a rebound yet.... looks like it's heading lower

[snakehead]

"Flush ... "

[TWT]

NDX: A bottom needs 5-wave down leg off May 11 lower high So far either (III) of (3) or (3)

in the chart there is a mistake in the comments

......... in my opinion there IS NO CHANCE of a bottom

[TWT]

$TRIN a bullish 0.56? WTF?

yes it is very odd

[Al_Dente]

I covered even though the nydec is >2550 and internals all VERY bearish….
Waiting for my intraday NYMO PROXY (purple proxy line is 19,39,1 macd on the $NYAD…. it updates intraday while NYMO does not…)
Today it went below the bottom line and it just needs to cross above the black line (see pink green box) to confirm a bounce zone
That could happen today tomorrow next week or….….

[uempel]

Update:

[TraderGirl]

I covered even though the nydec is >2550 and internals all VERY bearish….
Waiting for my intraday NYMO PROXY (purple proxy line is 19,39,1 macd on the $NYAD…. it updates intraday while NYMO does not…)
Today it went below the bottom line and it just needs to cross above the black line (see pink green box) to confirm a bounce zone
That could happen today tomorrow next week or….….

517nymo.png

Nice chart Al !!

[KENA]

Summery a couple of charts,...The liquidity ticked dn again yesterday ( dn liquidity now in this area means dn mkt )..The red line spiked up again indicating more dn,the blue line still low which is needed to maintain the dn move but it now has a very slight up indication that could be a warning for nearing a mkt change for some up movement.Now we wait and see.

Charts by Stocktiming

[stucap]

nothing is working for bulls.

first resistance line that breaks this thing is gonna pop hard. so much pent up bull rage.

[TWT]

VIX: It looks like we have to seriously consider the Inverted Head & Shoulder

[uempel]

Update:

[snakehead]

What was the news that caused the dump right after 12 o'clock?

[Al_Dente]

...intraday NYMO PROXY (purple proxy line is 19,39,1 macd on the $NYAD…. it updates intraday while NYMO does not…)
Today it went below the bottom line and it just needs to cross above the black line (see pink green box) to confirm a bounce zone
That could happen today tomorrow next week or….….

517nymo.png

Nice chart Al !!

Thanks TraderGirlfriend, credit where credit due:
I got help on how to create a NYMO intraday proxy from RocketMan, Taggard, and EvilTrader and used/tested all to get to my chart
…Been watching it for months and it's nice.

Here’s one 4 u
http://www.youtube.com/watch?v=gnQONZ1XVJM

[Petsamo]

nothing is working for bulls

The bears have not dominated yet. There's still 3+ hours of trading

[Cobra]

I'm still clueless. however we have the answer already for the short-term evil plan hatched in the last night report, so you have the answer for tomorrow already.