Key word there is "forced."  Can you imagine the outrage here in the U.S. if something like that were even proposed?

Also, if we hit the 50ma on the 5 min chart, I might take a scalp long.

Shaping up to be an "over-80%-on-the-60-sto" day (5 min chart).  Matt, if that happens, then the pullback would likely be the 4th wave of the larger count, no?

Not done going down yet, given that it's outside the Bollinger bands, though we prolly get a bounce for the next day(s).  After that, I'd be looking for a lower low (daily chart) that's inside the bollinger bands; that'd be a nice buy signal.  Also, if Matt's market count is right, and we're finishing wave 3 of 5 up, then we'd get one more high on the daily after a pullback.  That corresponds exactly to the inverse of my hoped-for scenario for TZA.

Yeah, just looking for a rebound trade.

zach06, CLF may have found a higher low here this morning.  I bought some.

Thanks, and good point about watching the sector (I hadn't been).

Another service I have on trial right now (fairly high profile) is recommending buying MON if it pulls back to the 50ma.  I will be closing my short, methinks, on any such dip.

On the SPG daily chart, the 50ma, 20ma and 9ema are all right together.  It closed today right on the 50 (157.95 close; 158.02 is the 50ma).  I am short from last week (slightly in the green), and waiting to see what it's going to do.  Any thoughts, things to watch for etc.?  Of course, may just bounce right off the 50ma.  Currently my stop is at 160.50.

Market looks like it wants to break upward (maybe after completing the ABC down correction/h&s pattern on the intraday charts).  If it does I may cover this if not already stopped out.  Was stopped out on WMT yesterday, and RE today.

Question: isn't it a little long for a flag?  To me it just looks like it has recovered and is in a nice uptrend channel.

Also, on 15min RUT, 60, 89 and 144 sto's all turning below 80.

going parabolic, do you have a shorting technique for patterns like this?  Look at a 60 min time frame, etc.?

I'm not a technician, but I believe it's the same outcome, but on a 5-minute time frame.  So (correct me if wrong,  Steve), it would be an intraday trade to maybe into tomorrow only.

Almost a double in less than two weeks!

understood.  just trying to help coolhat.

Diamond pattern  is a rally to a new high and weakness to an intermediate support level, a second rally to a higher high and a sharp decline through support, followed by a modest third rally and a decline through longer-term trend. 

Because diamonds are very large patterns, the technical implications are often extremely large. Technical targets are derived by subtracting the difference between the record high and the reaction low from the eventual breakout level. The breakout level will be determined by a trend line drawn from the reaction low to the first significant low on the right side of the pattern.

GS looking good - good volume.

"FRO cancels Q2 dividend, citing weak Q2 results and dim Q3 outlook."  www.midnighttrader.com

I tot I taw a wong-taiwed putty-tat!  I did! I did see a wong-taiwed putty tat!

Very tight Bollinger bands on w/ the 15 min chart on BIDU.  Yesterday's daily candle was a "long-tailed cat."  Should see a nice two or  three day trade on this, I should think.