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C'mon Poker
Its too close to Election...
the "boys" will prop the market
Poker; not a triangle
That doesn't look like any triangle I know...
http://www.chartpatterns.com/symmetricaltriangles.htm
Snoot/Poker, need clarification
i'm confused on your time frames and am just trying to follow along - When you guys say Top; are saying top for the trading day or Top (Topping) and then we continue the S&P correction to 950
Poker/Snoot - You Guys calling a Top?
what are your upside numbers S&P and are you talking hourly or daily?
Thanks
Koran burning
(just one more poker, please don't delete...)
The Florida church's pastor, Terry Jones, said Petraeus' concerns were "legitimate".
But in a statement to the Wall Street Journal, he added: "We must send a clear message to the radical element of Islam. We will no longer be controlled and dominated by their fears and threats."
Interviewed by AFP in July, Jones said: "Islam and Sharia law was responsible for 9/11.
"We will burn Korans because we think it's time for Christians, for churches, for politicians to stand up and say no: Islam and Sharia law is not welcome in the US."
http://news.yahoo.com/s/afp/20100907/wl_sthasia_afp/afghanistanunrestusreligionislam_20100907104307
Not sure about this Mosque thing
First it has nothing to do with Trading
but since its posted.....
I wouldn't want to see this mosque near ground zero
not because that ground zero is sacred ground
but because I'm not fond of Muslims at the moment
I'm feeling a little prejudice against anyone from those beliefs
However;
The First Amendment rights give them the right to build
(assuming everything is legal)
Also, we have no control over what they do in Mecca
I couldn't give a rats butt what they do (religious) over there
My thinking is that I am better than any one of them
If they want a mosque, give them a mosque
If they are pissing on us, then show evidence, give proof...
So we can blow their asses off the grid
In my opinion, people protesting against the mosque are just making noise
I think you think its funny
I wasn't sure, so I looked
So i'm laughing too..
Depending on traders time frame
I would say Yes its a buy on the hourly
But not sure I would hold longs daily
are you being humorous?
WoW Thats too bad Dude,
I did Not think the post was off topic... the article you deleted supports Your SPX Cycle call on post #5 - the article stated the S&P 500 will rally to 1,300 before ending 2010... Your post says Monthly target of 1333...
I think you're a little touchy - but its your board, Good Luck.
I think I get it -
Basically McClintock is saying... "... While You are a guest in my House please refrain from telling my family what they gotta do... especial since your house is chaotic... " or... " you're in my house putting my kids down when your kids are smoking dope, stealing and cutting peoples heads off... " or... the equivalent of - you're in my house criticizing my wife's cooking when your cooking gives us diarrhea..."
is that about right?
>>>> tell us how to run our country
I'm Not sure why you guys are all fired-up - the Mexican guy was just making a speech....
Pokersam target for S&P?
... would you take another reading of frogs entrails for the max Rally and next downside target?
Russell 2000 40-day/hourly
this looks like a reliable slope
JLS... right... not a inverted C&H
eom
S&P inverted cup-n-handle
I’m not the cup-n-handle expert… but that sure looks like an inverted cup-n-handle on the S&P daily chart.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p49422353091
S&P Target to 980
based on symmetrical formed in May... Also here is borrowed chart showing trendline of forecast.
Swithing 20day/60min chart to IWM
The S&P Symmetrical previously stated looks funky... its more like a descending pattern. The better Symmetrical pattern for my trade is IWM. The Market Up-side break to S&P 982 is looking doubtful at the moment... I would need supporting evidence and more stimulus news. I'm keeping the trades between the lines and changing bias to "Show me the Break"
Position is Long IWM
Your bounce to 903 tomorrow then Back to 845;
is that right?
S&P 20day/60min chart
This S&P Symmetrical could break either side of the lines... I think it will bounce at the lower line and then i'm leaning towards a break-out of the upper line. If the pattern holds; the minimum Up-side target would be S&P 982.
Tomorrow should tell
if the Bears get their wish
Ok Poker
A prayer for your brother… and a successful surgery.
Poker & 860 for the bottom of wave {iv}.
Lehmans 40day channel has been working for me. I use it as a known point of where we were. I think there is a good chance we move towards the bottom line based on your wave count and the weekly 5,3,3 stoch. Also it does not matter if I'm wrong with this call... I'm in the money and it feels good.
RE; SPX 40-day/hourly Chart
...my bad
The weekly chart
Downside; the weekly stoch 5,3,3 for index SPY, IWM, QQQQ & SMH are all sporting a nice downward arch plus the standard full stoch is crossing.
The upside; its my assumption the S&P would need a round number such ass 950 or a double top such as 943 before the correction can commence. Also NASI and NYSI weekly stochs are extended but not broken.
I’m thinking that the expected correction is on its way and anymore upside is for intraday traders only. For me the daily S&P channel seems the logical choice and will review direction again at lower trendline.
WEEKLY S&P
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=0&dy=0&id=p47465031129
On the daily Chart
borrowed S&P chart from Richard Lehman
My assumption is the S&P will go to the bottom of this channel, (green line). This is assuming the bears are Now in control.
On the hourly charts
Using the hourly Stoch, I think IWM & SMH have bottomed for today. SPY (hourly) has a wee more downside to go.
For the last couple of weeks or more, the Bears have been calling a "Top" in the markets. I followed suit based on the S&P500 weekly stoch 5.3.3. and negative D's... To me; it is obvious that the markets are over-bought. The problem with the call is the overall-trend would stay in overbought territory with no market correction as widely expected.
The statement "overbought" is true... but there will be no correction or significant pull-back until the market makes the break... So..I'm looking for a market "top" to sell into and also looking for a "Break In Trend" to confirm the top. Here is a borrowed chart from cobra's view showing what I think is the prevailing trend. I'm saying the lower trend line is the Prevailing Trend or the Bull support line. Until the line is broken there is no top.
Current Position; long BA
http://lh4.ggpht.com/_APmrYvpA45s/Sf-1gX8bt_I/AAAAAAAADCc/6bAvBs9DhlY/s1600-h/SPY60min%5B2%5D.png
more upside
The lower line on the S&P chart is the prevailing trend. The trend is Up until that line is broken. The upside target on S&P is 950. A similar pattern exist for IWM with an upside target of $51. I think the IWM target will be met.
Ascending triangle or double top
1) There is an ascending triangle showing on the S&P daily chart (last 9 trading days). Price would take us to 924.
2) There is also a double top in the same trading days that would take us back to 780ish.
Based on current market exuberance and assuming da-boys maintain this charade… I think scenario one has solid potential. I know the markets are overbought and pull back is expected. Either scenario is ok with me.
The MACD on the daily charts are Overbought or near Overbought. The next most likely direction is to stay overbought or Down depending on market mood. It is my assumption that since we are in a Bear market; it would take an Act of Congress to keep the MACD in overbought territory.
Most indexs I follow are showing a symmetrical back to November 08. The S&P500, DOW and Russell are half way to the upper trend line...SOX is at the line and SMH is sporting a break-out and a double top. The MACD common for All is at the top of chart with more room to grow (depending).
We could have a significant change in direction for the market coming this week. So this is the week to put your bias in the neutral position and prepare to change if necessary. My current bias is bearish and think the break will be to the Downside. Its difficult but I am prepared to change bias should the break be to the Upside.
OK where does the line begin?
But let me make it Clear...No Kissing!!
State of Economy.
For me & my pocket book, I am a little relieved to be long. My concerns are on the natural order of finances. What does it say about the underlying state of the economy when there is intervention of this magnitude? I'm long but treading to recovery. To my short-trade brothers, my feeling is; there is worse chit coming. I could be a wee paranoid...but I don't believe in quick fixes and a magic is for illusionist.
I agree the market direction will stay down and there is no turn around until the oil & financial issues subside. But It would be un-American for "the boys" to let the market sink during an election year. I know the charts do not lie but the charts do not create the market... they react to it. Pokersam does a good job charting but the S&P 950 target is too extreme for this election year. At most a re-test of S&P 1200. The key here is 'un-American', that saying could be dead in some circles but is still alive with 'the boys'.
happy trading.
ahemm..
every so often i lurk by to see how things are with Poker and this hub. I have a comment to post if you folks don't mind.
re; 787 composites
excuse me,
I usualy just browse thru and not visit but would like to reply on 787 composites. I posted a chart of BA at another site which shows this pattern developing. Either today or the next day could be a nice opportunity.
http://stockcharts.com/h-sc/ui?s=BA&p=D&yr=0&mn=6&dy=0&id=p18203984831
IWM more upside
If you look at breadth, bullish percent and weekly charts, they will show resumption of the upside trend. Russell is currently experiencing the shake-out of weak hands. Daytraders buy at $76 sell at $80 until the break. Prices below the lower trendline is panic selling.
IWM chart
For the long term trader holding a long position is good.
For the day-trader i believe the trading action is similar to July 2006 at the lower regression line.