08/17/2012 Live Update

[mocker]

Triangles... breakout either side, is that it?

What are you talking about?!?!?
Nowdays Triangles... break out only UP!

[TraderGirl]

I watch SOXL sometimes for market turns...count doesn't look impulsive...abc formation...nearing resistance, nearing potential end of wave count, and getting neg d....

[Nrsimha]

Crikey!
This is just gonna keep going higher and higher, innit?

If your time horizon is longer than a few weeks and you believe what the charts are telling (as opposed to what ZeroHedge thinks is happening), and that IS a big "if", then you will notice, sir, that there are an awful lot of bullish crossovers in the works (e.g. 10 week/20 week). So if u trade strictly by chart technicals, then yup, u should be bullish.

If your time horizon is longer than a few weeks and you believe what the charts are telling (as opposed to what ZeroHedge thinks is happening), and that IS a big "if", then you will notice, sir, that there are an awful lot of bullish crossovers in the works (e.g. 10 week/20 week). So if u trade strictly by chart technicals, then yup, u should be bullish.

at best technicals are mixed.........there are more topping patterns than I can count........negative divergence all over the place.........overbought territory

If one goes with the odds they would fall under a bearish scenario......If you base this on risk.....the risk reward is much better on the bear side........so I really

dont see how one can be bullish.........again that doesnt mean we cant or wont go higher.......but I always side with the odds..... that being said I never get married to any outlook(bad for the accounts)

Exactly, jabberstoxx, the caveat is that all of these crossovers were produced on low volume on so-called 'BS' (Merkel, Draghi comments, etc.,) What worries me now is exactly your comment <<dont see how one can be bullish.....>>. That seems to be what everyone is thinking ---- the very fact that a lot of people on this board find the bullish headlines that Myagi posted to be a bearish contrarion indicator --- it is almost like it is contrarion of contrarion (a double negative) and the fact that there have been a lot of outflows from ETFs here at this point in the market. Howver, to your credit, I WILL say that SPY and $spx have led and $RUT, etc., have been reluctantly pulled into this rally --- it is seeming like this "buy high-dividend stocks trade" (a la Jim Craemer) is becoming a CROWDED trade !!

[Al_Dente]

PAGING “HEY LITTLE COBRA” …. we need wake up call …. or else… candy maybe
http://www.youtube.com/watch?v=oc6FmZCT ... re=related

[Mr. T]

So there u have it....

He called that last week. It's based on his analysis of the presidential election cycle.
So you think he's dead wrong eh?

I don’t believe anyone anymore except Cobra
ps Mr .T: will this market ever go down ever again?

Answer = Never!!!!

[tkvprasad]

paging BB52X

The VIX (daily, 5 min) call in your yesterday afternoon update seems invalidated now as we have lower lows printed , may be we could expect more upside on equities before seeing any correction!!!! your suggestions; I see you are looking for a minor correction , wondering if you can share more insights on your sell signal

[Al_Dente]

oy that triangle.......she be squeezing .......on the upside

[OverUnder]

Apple new high

[knock]

5min is alike VIX monthly. sheesh

[TraderGirl]

TZA nearing trendline....seeing some pos d....need to see support hold....IMHO...
edit: sorry wrong chart...

[Al_Dente]

it is NOT the bots that r buying

[Mr. T]

This is the END!!!! The bears are all dead........ Ben stands supreme as master of the universe!!!!!!

Take that Skeletor!!!

[Petsamo]

IWM is close to previous high of the past 2 months, just shy of $82

[Al_Dente]

5min is alike VIX monthly. sheesh

what does that mean knock.........thx

[MrMiyagi]

Selloff to the close at POWER HOUR?
Maybe sheisters won't want to hold through the weekend.

By the way, I have trademarked POWER HOUR in all its variations, you have to pay me 10$ each use.

[knock]

i just felt that VIX monthly chart looks similar to the es 5min right now.

never mind. just the shape of the 3 spikes.

[Petsamo]

Maybe sheisters won't want to hold through the weekend.

The Germans don't have a problem holding over the weekend. Why should US ?

[Al_Dente]

i just felt that VIX monthly chart looks similar to the es 5min right now.
never mind. just the shape of the 3 spikes.

got it...THANKS

[Cobra]

breakout on the upside but I don't read it as significant, so still nothing to say.

[Al_Dente]

........By the way, I have trademarked POWER HOUR in all its variations, you have to pay me 10$ each use.

Sooooooo……. in other words……… YOU are the sheister here