Is TRIN the same or equally good measure of breadth intraday?

If so , like SPY, it's back near the open now in neutral territory

here's our broad rally

.. in fact the PKB daily candle now is a classic example of how manipulable and misleading candles can be - but unfortunatley you see the flow on effects from sellers that don't check the lower time frames time and again! Not that it's always manipulation , but still.... Dirty game.....

hate to say it but nice to see these financials selling off, cos they are the thief kings - see financialsense.com on the whole crime of naked short selling ie of oodles of shares that don't even exist, for instance, just one of many techniques to steal from or freak out investors.

Actually PKB (infrastructure ETF) had a HUGE buy in this morning and FWLT is sitting at or just breaking down today from wkly trendline support and vol down is not so large. Also there are some bullish fundamentals for this group, so who knows? Haven't sold my longer term position yet cos it looks like a mickey mouse selloff so far to me.

Thanks for the perspective, dodger and others. Helps keep me on track when I'm not staring at my 43 monitors all day long!

So, for those of us  who just pop in and out to make an adjustment here and there, at least on the close, today's read would be no sign of the bounce yet, and so much for the post-holiday historical rally so far?

But is the market not moving against oil a bad sign, or possibly a good one for a delayed reaction close?

Opinions, guesses, probabilities anyone please? Matt, neutral or negative?

Hey , Matt

So the read on the ECB was dollar /gold should continue if .5%, reverse if no change, so it seems the consensus that going halfway means this short term correction will/has played out and then we should continue on our merry way - gold and usd are both back at support, but do you feel, matt, that odds are that will be it for the correction/dollar rally?

Close is at the end of this hr?

still like GDX? interesting to note volume reads on 3m v 5m

Hey, thanks for you perspective.

Thing was I thought the idea of what you call the age of turmoil portfolio, partly inspired by Jim Puplava on financialsense.com, was to be NEGATIVELY correlated the SPX, not fall with it, but now I'm realizing that at least for now, the 'crazy' thing is when they get to selling, they sell anything and everything that you don't eat or put in your car. Maybe that stuff's next?

So now the commodity stocks are capitulating more than the SPX ones, and to hell with the fundamentals. No supply relief is here as it should in a 5th wave bubble, but hey, it looks a fifth wave on the charts &  the telly says it's bubble! Who says it shouldn't be crazy?

Thanks, yes, I find it difficult to separate time frames when it looks like you guys are doing so much better just waiting and pouncing at the right time.

I am clear on the fundamentals, but seeing lately the commodities outperforming their respective stocks (which none of my advisors seemed to to foretell), and what looked like an awesome long-short portfolio having it's profits wiped out (admittedly breaking even is probably better than most right now)  I've been transitioning back into the idea of only trading with those fundamentals in the background rather than holding long term in the same account through thick and thin. I have a lot of positions too, so the temptation to go in and trade them when I see certain ones freaking out is strong. I also toyed with the idea of getting separate accounts so I wouldn't be tempted to touch the long term stuff - 'out of sight, out of mind'!.

What I like about this site is that Matt etc seem to hold all these perspectives very well, though the blog seems generally much more now -in-whatever-hot-stock-focussed which seems more the usual in chat rooms, regardless of whether it coincides with the tenor of the evening updates. It's good at least that he keeps us intermediate folks somewhat in the loop on the 'bigger' technical picture intraday and how that relates to the evening commentaries. For me at least it would be cool if others could participate a bit more in that too.

All the best.

...Cos I sure as hell feel like capitulating so maybe other do too!?

Yes, maybe you guys are smarter than this, but as well as trading I have what's known as a 'portfolio' which includes what seemed like some sensible basic materials, ags, water, infrastructure, oil and gold, and I don't think I've seen them all tank together before.

Some advice on whehter I should panic along  with the rest of them or sit it out till everyone's had a nice sleep this weekend would be appreciated.

Is it just me or is this crazy chicken with its head cut off stuff? - everything going down

The holiday phenomenon is to pick up after the weekend, before which people sell for peace of mind.

So should be be ditching this 'bounce' ie yesterday's buys, if we don't get follow through today or hold tight?

And maybe this GDX correction is over with a 'flat' wave 2 holding at support - gold is up and USD  is through support.

What's the news causing this outlandish steel action?

so is our GDX correction over or is this an Elliot wave  'flat' wave B now?

Opinions anyone??

3 technical questions to clarify, anyone?....

1. re gap filling - would you say it's more common for stocks to FILL gaps or more often just get part way into them? eg re our GDX hopes

2. ( I assume ) negative divergences are negated once superseded by another higher peak? eg on MACD

3. Stochastic crosses are usually taken on the fast or slow line?

Please let me know your understanding anyone.

So are we crystal-balling a short drop on the indices, GDX or both in the morning?

Opinions?

No chance that the big vol on GLDD last Friday wasn't bozos trying to buy GLD and getting the symbol wrong??!!

Are we liking it here?

Hi, Matt,

Are the chart settings you show in the link on it general across the board incl eg your MA settings for 60 min, or are these just specific to the say SPX in the particular symbol shown?