Index chatter...

[MC]

Originally Posted by MC

Thoughts?

We hit the top of the downtrend I drew, do we break up and test the overhead structure resistance or do we drop back and test support again?

Macd also has a chance at being a Bull Blocker, though if that breaks it could be sexytime.

[MC]

Originally Posted by MC

http://stockcharts.com/charts/perfor...,$SILVER,$wtic


Interesting performance chart comparing INDU, GOLD, SILVER and WTIC.

The shift has been made, question is can we regain any footing off this bullish break last week?

[MC]

Originally Posted by MC

GLD (Candles) compared to DJI (white line on close).
Gold has overtaken and overshadowed the paper markets since Sept. 2005.
I love the inverse relationships in the markets, clearly money was shifted to the metals and other hard market items as the DJI and paper markets fell off. Look at that explosion on GLD! :-*

Lets now see with the large volume selling in gold and silver if the market can regain some footing in the coming weeks/months and beyond. ???

Well those trendlines I drew broke and tested so if that's any indication then the delta should narrow on these.

The kicker is that volume on GLD is really having me doubt the markets recent rally. Can gold continue up as well as the market or are they always inverse for the most part?

[Carl Icahn]

Originally Posted by Carl Icahn

Markets look like they need a pause or some downtime heres just a chart of the dow...with some key resistance dates. I still expect further upside into the end of the month right into Ben's spill (surprise no cut, might be the catalyst we need for oil/commodities to take a breathr, but thats another topic) Maybe a touch of those levels by one first then pullback or pause, pretty much touchd the first point on the spy. The lines are just speculation...lil fun

[DJ South]

So, we are STILL in line to follow this little trend that the DJIA has been in. Should be painfully obvious as to what I am talking about. I think IF the trend does break, it will mostly break because of a higher low (IE it wont retrace all the way back to 12,400 without reversing into X's again). Only time will tell. Still very buillish until a sell signal is shown. Will be interesting to see how this trend holds up. If we get around the 12,500 area I would definitely pick some stuff up tho

[Carl Icahn]

Feel like the markets might have one little push left into the resistance levels end of month, but id be a seller into it.(also the oil,ag,solar,commod,dollar might see a nice correction afterwards) Im acutally looking to load up the boat on the short side if we reach those key levels cause of risk reward. Only problem is i see the ATR tanking and volatility is going to come down and take us into a slow moving market which might make my usual put or call play on the indexes not so profitable(maybe some insight??)

[cire2222]

I have no real bias in direction right here right now. We are running into the 200ma on the daily now, that can give us some head winds but I see nothing too bearish overall. Im picking small trades here and there and not ready to enter into a directional swing, If i had to pick a side short would be the way but stops would be at the high of day on 4/18.

[MC]

Here's my view, we closed above that down channel pretty convincingly. As expected it's stalling at overhead resistance on low volume, it's time to base or pullback to test support most likely.

Now ideally we should get a test of the new support on the top down trend line.
Even better would be if it kind of hangs here for a few days and lets that channel line meet with the structure support below. There would be the king of entries if you want odds in your favor, double support for a long.

Note the red arrow, that's your signal if your less aggressive and maybe the smartest entry of all. The channels/trendlines break and fake out often but a legit breakout of range followed by a test of that same level is a prime entry. Let's see if we can get that smarter entry on a long here. You could play it short in anticipation of that test though it could rally with no warning and now I would look for long setups.

[Carl Icahn]

Originally Posted by Carl Icahn

Feel like the markets might have one little push left into the resistance levels end of month, but id be a seller into it.(also the oil,ag,solar,commod,dollar might see a nice correction afterwards) Im acutally looking to load up the boat on the short side if we reach those key levels cause of risk reward. Only problem is i see the ATR tanking and volatility is going to come down and take us into a slow moving market which might make my usual put or call play on the indexes not so profitable(maybe some insight??)

Looks like market is always one step ahead, nothing can never be too perfect right? The correction looks to have starting to begin today in the ag,oil,solar,commod,dollar,fxe (should come up a name for this group) I bet the momentum hedge funds already know and are trying to get a jump on profit taking. (Take a look at this momo name= LNN, along with the rest of pot,fslr,mos,mon...etc you know the list) Its getting crazy out there read a story where they are limiting rice you can buy from the stores about food riots...etc.The hype is too much its time for this whole thing to correct at the very least, cause a nice correction would still keep the bull run alive.

http://www.youtube.com/watch?v=d337KhzlrFc

Also you may think its all good in the financial land, but they are being quiet about it now=snipers take a look at these charts (CIT,ABK,DFG, and the volumes)

Still think we can have one push into next week end of month, and I hope we do so I can enter my positions, but I might start to leg in tiny ones tomm.

[Carl Icahn]

Originally Posted by Carl Icahn

Close to 400ish target, thanks to BRCM earnings today