Check out the inverse head & shoulders that played out overnight in ES futures. If only I had the temerity to trade futures....

Appreciate your affirmation of the wait and watch mode for SVLT. Today was ugly, that's for sure.

Steve Reply: Your welcome,  I started buying some shares back today...soon Edison will acquire and many positive developments in works. Much better company now than prior to the first big move. Trade your plan. 

For Steve, re: SVLT chart. It broke that support line Matt drew in April, but from your comments you're still behind the fundamental story. I don't see much in the way of a pattern, perhaps a falling wedge. How does one get into a stock like this? I suppose wait for a base to form?

Answer: I simply buy a few on dips with some of my trading profits. 

sbaxman, we've had a four-day run w/ the RSI 4 of the RUT above 90%, then Friday that broke. So, I take it you're looking for a trigger to go short at least to the 9 ema? What do you like to use? A single candle reversal pattern a la Steve Nelson/BPT? Or a TA pattern, like a wedge, h&s, etc. on a shorter time frame like 15 minutes?

Heard Guy Adami just now talking about WFT as a buy ("it's got another 10%" - i.e. the 200ma). Charts shows a breakout on an inverse head and shoulders, very heavy volume yesterday.

Everyone's a winner - no one who owns the stock is in the red!

Thanks for posting (and Matt, too).

Hormel (HRL) - what a dog!

With you hamvester. I'm here to figure out how to manage some retirement money, not to listen to others knock on public figures (regardless of stripe).

Rank amateur re: EW counts, but if this move is to be five waves off the bottom from last week, and if wave 5 = 1, then the target is ~ 2118. 30 min chart w/ my (amateur) wave count. One EW guy I follow (Pretzel Logic) sees the current move as most likely a C up (just like BPT does), the final move of a flat, then it's down to below 2025. But he (like BPT) points out it could go to new highs and still be a flat/corrective, and there is a count that says it keeps going.

HRL - no love. Failed again at the 5 ema, at least so far. Daily kind of looks like a bear flag, and no divergence on daily. Small position in my (small) SEP IRA. Stop at 34.20

If the market is going to turn down, right here is a good spot for it: testing the neckline of the 5 min H&S pattern.

This is a good setup from an IPO standpoint: last week's lows tested the opening day high, and bounced off it quite well. So, now everyone who owns shares are in the green. So, nobody has a reason to sell, since it's working.

And . . . done working. (For the moment anyway.)

YELP starting to work.

Right - ratio adjusted. Forgot about that parameter. Thanks!

Cool, and I see I have it on TOS as well. But what about the scale/number reading? The NYMO chart you guys have w/ stockcharts never shows low readings anywhere near -230, which is where it is right now on TS and TOS. So, how do you use this number?

where do you get the intraday number? The BPT chart doesn't give number for today.

Who the hell is doing all this buying? You'd think we'd be down 40 SPX points by now. 

trying hard to regain the 2040 level on an EOD basis. have to wait and see.