as steve emphasized last night, the indicators follow the market and are not predictors...basically I see the neg div too but also know that with a strong enough move they all get obliterated OR can set up even longer or bigger divergences for a couple days before playing out...just be careful

any news or other data due at 10am today??

OK so the last six NFP were down days. And tomorrow could be #7. But as far as mutual fund Monday being the 8th of 9th that was down, I note that the SPY barely closed negative, 2 ticks and to me it suggests the market wants to pop higher. So maybe a rally off the numbers into 10 am or so and then a decline the rest of the day??

However the market could just as easily drop to make a bigger wave 4 before rallying in a wave 5 up next week.

could that upper downtrend line be the neckline of a bigger inverse H&S pattern??

Ok I just caught up with this board. This is what I am thinking...this is a blast off possibly to over 1300 on the SPX as I see this as the C wave up of wave 2....

Since wave 3 down will be a doozy once it gets rolling, I believe this trade will eventually be a winner if indeed we are asked to hold out that long. Remember some trades can run 3-4 months and maybe longer.

However if the system says get out Thursday or Friday on a pull back,  that will mean it will probably re-short from a higher level.I still have faith!

I did not see was any specific option hedging posts offered as we dropped last week but I may have missed them (as I said i have been out a while and just catching up now). This hedging may be something to really get into especially if a trade is up and down and drags into a month or longer situation!!

I can see the dollar rallying to the top of the wedge forcing the MM down to even further oversold and THEN breaking down to allow the MM to rally strongly!! So in a perverse way, it can do both.

and then a push up and through to 1230-1235

to engulf the previous one per last night's report...it was something to watch for in any case!

i will add longs on a back test of the broken wedge trend line....the 5 min mod macd has been on a buy since the lows...30 min still a ways off but pos divergences building

using a combo of the 5 min and 30 min version was able to trade the mod macd for a profit early this morning and put the short trade back on again mid-day...

even though indicators suggested to stay short, I took profits again before close. Hey I dont need to see it gap up on me tomorrow, and I can better bemoan what could have been if it gaps down tomorrow.

you are making a move but not out of IL, to a tax free state....those taxes could pay for a nanny or another vacation or to create more BPT jobs...:)

be considered a big bull flag??

these charts were mostly posted by Matt/Steve here...and the one with the ADX by angelo851

all the best.

Something suggests to me that we may see a throw over for D and a higher high than 1277 that blows this up..gonna have to monitor this and that modified macd  for the turn down or break out.

well that mod macd rolled to an initial buy yesterday midday, but did I take that trade, nope. This corrective wave action has me flummoxed but the big moves seem to be caught by mod macd. I like the 5 ema a bit easier to follow!!

seems to have hit on the head so far

for a message

important day as it is WW I armistice also know as Remembrance Day, or Veteran's Day in US

or do you expect it to fall well short of that before becoming well overbought?

Otherwise I suppose wave 3 should just blast higher.

man what a loser that guy is, he is fully qualified to be an Obama's economic adviser.