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07/30/2013 Live Update
Posted: Tue Jul 30, 2013 8:45 am
by Cobra
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Third test of the blue horizontal line, a breakout is more likely.
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 8:48 am
by Cobra
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 9:26 am
by L_T
Here is a headline for you:
Fertilizer Companies Are Getting Destroyed Today
Full story:
http://finance.yahoo.com/news/fertilize ... 24673.html
POT is down something like 23% in the pre-market.
pBAR Reading
Posted: Tue Jul 30, 2013 9:32 am
by FlowerGirl
Based on SPY pBAR down to 162.10.
Looks like a stretch but is drawn on the assumption that this pBAR is being used to indicate some extreme targets.
-Two yellow lines are parallel to each other. Notice how pBAR (purple line) anchored at intersection of cyan and lower yellow line
-SPY seems to be forming a Bull Flag, a break out can take the prices to the upper yellow line.
- Are they hinting that fall will occur once price reaches the upper yellow line? Not clear at the moment but future pBARs may shed some light.
This may sound absurd to some folks here . It is this reason you shouldn't be investing even a penny in this analysis.
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 9:33 am
by fehro
SPX 15m... new gap this am.. filling yesterday's ... cyan upper line
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 9:37 am
by fehro
tagged.. now.. back down?... fill the gap.. and chop around.. still in a bearish rising wedge
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 9:50 am
by jarbo456
CHK positioned for a breakout.
Careful of the false one.
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:01 am
by Cobra
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:01 am
by fehro
SPX 5m.. invs H&S for the bulls.. bearish rising wedge for the bears...
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:02 am
by L_T
jarbo456 wrote:CHK positioned for a breakout.
Careful of the false one.
What's your time frame? Daily?
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:03 am
by Cobra
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:24 am
by daytradingES
energy of the day mixed and undecided
retraced to 1684
up watch 89 area for resistance but probably 1695 area = target
Range 10.25+1684 act low at 8:57 = 1694.25
http://screencast.com/t/rGBreYDN1
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:33 am
by rhight
Greetings,
As a lurker, and former contributor, I would like to express my gratitude for this forum. I dropped back because I'm trying (oh so hard) to be a position or intermediate term, and not a day trader, and the daily banter was confusing my adled brain. I saw the rising trend line resistance on the SPX 5 year chart and this week plugged the numbers into a slope calculator (my own) so as to draw the line on a shorter term 6 month chart (shown in yellow). I gave it a range by using the two date points shown (in red text box). Notice how price has stalled (so far) in this range. We will see if euphoria will cause a pop through this resistance, something my bias makes me think this would be relatively short lived.
Some other things to notice on this chart :
a) the 4/18 to 5/22 uptrend (dashed blue line) was copied and pasted to the current uptrend. Notice that the current was initially steeper, but now equal in length, but not price of that uptrend.
b) the light blue trend lines of both advances are now exactly equal in slope. When that TL broke on May 23, it presaged the June decline.
c) the uptrend of the past 3 days is that the same as that line.
d) this is not to say that a break will lead to an intermediate decline, just something to keep an eye on.
Disclosure : 25% short at SPX 1684. Longs closed.
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:40 am
by L_T
rhight wrote:SPX Daily 073013.png
Greetings,
As a lurker, and former contributor, I would like to express my gratitude for this forum. I dropped back because I'm trying (oh so hard) to be a position or intermediate term, and not a day trader, and the daily banter was confusing my adled brain. I saw the rising trend line resistance on the SPX 5 year chart and this week plugged the numbers into a slope calculator (my own) so as to draw the line on a shorter term 6 month chart (shown in yellow). I gave it a range by using the two date points shown (in red text box). Notice how price has stalled (so far) in this range. We will see if euphoria will cause a pop through this resistance, something my bias makes me think this would be relatively short lived.
Some other things to notice on this chart :
a) the 4/18 to 5/22 uptrend (dashed blue line) was copied and pasted to the current uptrend. Notice that the current was initially steeper, but now equal in length, but not price of that uptrend.
b) the light blue trend lines of both advances are now exactly equal in slope. When that TL broke on May 23, it presaged the June decline.
c) the uptrend of the past 3 days is that the same as that line.
d) this is not to say that a break will lead to an intermediate decline, just something to keep an eye on.
Disclosure : 25% short at SPX 1684. Longs closed.
Very nice. You should go from "former" to "current" contributor!
Do I see you follow Demark counts as well?
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:43 am
by Cobra
range day, nothing to say, wait for OR breakout first.
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:45 am
by grachu
is this the usually pattern before the FOMC meeting ?
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:54 am
by fehro
little triangle on SPX5m.. bullish looking
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:55 am
by Al_Dente
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 10:57 am
by PanamaJack
daytradingES wrote:energy of the day mixed and undecided
retraced to 1684
up watch 89 area for resistance but probably 1695 area = target
Range 10.25+1684 act low at 8:57 = 1694.25
http://screencast.com/t/rGBreYDN1
DayTradingES
Thanks for the update.
I did notice in my scans that there was a lot of buying of 1X, 2X, & 3X -- Short funds.
This was a Bullish MACD scan. I anticipated more of a pullback from the open similar to previous days trends.
Good Trades,
PanamaJack
Re: 07/30/2013 Live Update
Posted: Tue Jul 30, 2013 11:01 am
by fehro
fehro wrote:little triangle on SPX5m.. bullish looking
ah.. no... so much for bullish looking.. still could be an inverse RS... but should hold it here if that's the case...