Thank you for dollar chart Michael.  p.

Great GS chart Steve.  I want it to break to the upside.  

Yes, I took profits in PWER today.  Thanks for the suggestion.  It seems a little tired and I know I am.  Hope everyone has a good weekend. p.

Thanks Michael!  p.

The BIG picture Bollinger Band chart work on the emini S&P 500 shows that the recent vertical upmove from 1002.75 to 1099.50 traversed the April-July down-sloping price channel completely.  But during the last 4 sessions it failed to hurdle the upper channel resistance line in the vicinity of 1095-1091. Today's decline confirms the failure to hurdle the down trendline, and may confirm a failure to sustain above the declining 50 DMA (1082) as well. The mid-point of the BBnds is at the 20 DMA (now at 1062.70), but keep in mind that the average is still declining and failed to flatten out and turn up despite the 100 point vertical move in the e-SPU. This is a very negative signal-- a still-declining 20 DMA, which warns us that if the e-SPU continues lower to test the average, it will represent little or no support in its current position. Bottom line: As impressive as the July upmove has been, it failed to inflct significant damage to the dominant downtrend off of the April high, and in fact looks like it added another coordinate along the down trendline at 1099.

Thank you both.  p.

I agree with Matt.  And if I could only have one indicator it would be that "144".

WOW!! What a good looking upside down Great Dane.  Of course, my favorite breed.  p.

The plot thickens for the rally off of Tuesday morning's low at 1003 on the near-term point and figure chart, as the emini S&P 500 makes another marginal new high at 1071. That's the lower portion of my preferred next target zone of 1070-75, but no real selling pressure has emerged just yet that has approached the trigger of a near-term sell signal. To do that, the e-SPU will have to print at 1063.00, breaking the prior upside pivot at 1064.00 from late yesterday, which should initiate a press towards 1055-54 thereafter. That said, as we speak, the index still remains perched right near its rally peak. The question is whether or not it is at or near exhaustion (near term). My pattern and momentum work are telling me that in the absence of upside continuation in the upcoming two hours, decisions will have to be made ahead of the weekend whether or not to reduce exposure on Friday afternoon, after a 7% three-day thrust.

As always, I appreciate your great charts and the clarity of your targets!

Not holding my breath for that Wave 5 up there but stranger things have happened.

VIX 30 Min.

Thanks for the update RP.  p.

Almost forgot:  eod is where it will really matter.

Steve, I believe that it's showing positive divergence, as well as today's $VIX is currently back inside the band.

This chart is in my Stockchart "library" and was originally created by another BP member.  I'm sorry I don't remember who that member was but I think it's a nice chart.  p.

VIX

Ditto.  I just took a long ETF.  p.

Well Sue Herrera is now talking about the big H&S pattern on CNBC.  Do we remember what happened the last time (Summer 2009) that they were talking about it?

Very nice.  Thank you for sharing.  p.