Stock Market Today : Aug 20th - 24th - Page 6  

 

You do realize Apple and Google have crossed streams already this year? Last time it happened, check what happened to apple shortly after. Apple could never hold more than $1-2 over google before selling off.

 

Not calling you out here, but its comical how many excuses folks make for reason apple is up. Last week it was folks selling FB for apple, now its selling GOOG for apple. How do you guys know all this awesome insider stuff?

Just saw a possible trend channel forming on IWM 1h chart.

 

 

and then I decided to look at SPY, which looks very strong. I think this is the trend (bright aquamarine) that will carry SPY to 143 - 143.5

 

 

I don't know if this was already obvious, but my mind just discovered this.

 

EDIT: The VIX is getting more volatile, and at these levels (plus the price action), IMO an increase in the volatility index would be a bullish sign, rather than a bearish one. It seems logical that an increase in volatility could only be done with an increase of volume, taking into account the ridiculously low levels of volume for the past 2 weeks.

Edited by Anton Katz - 8/21/12 at 12:36am

euro busting up some resistance there

yaarrrr she blows

Well everything is I guess... more currency related imo..

Euro has been making a move for sure... if it is mostly QE-hope related then it should be bullish for almost everything, one would think. But EURUSD is IMO guilty until proven innocent on a daily and weekly timeframe until it closes over both the January low (in low 1.26s) and the upper TL of the descending channel it has been in for a year-plus. Ideally for a Fiber bull, it would clear 1.27 then put in a low in the 1.23s to make an inverted H&S with the LS being the May low. Then it could put in a much more macro inv H&S using the January low as the LS, which would create a target near the 2011 high, but that's super-aggressive, and something I won't be playing, just watching casually.

funny to see the bonds in the same falling wedge since July all-time highs as the SPY has been in (rising wedge due to inverse correlation, of course). Some day the top will be in on the bonds... maybe that is the case already. But if it isn't, we can expect a nice counter-trend move in the bonds if the much-anticipated pullback, meltdown, "what have you" finally materializes in Septermber. Personally... I'm not holding my breath considering it is an election year, and if I'm not mistaken the conventions seem almost historically late on the calendar.

The other option is that bonds punch the lower TL angle down, forming more of a descending channel. I had this wedge drawn earlier in Aug and price already bumped the line down once... so I am not really convinced it is signaling an imminent counter move. But with the historic move up in bonds during the middle of this year, and the move down in the Euro against the stock rally, I and likely many around here are probably more open to broken correlations between equity classes than we almost ever are. Obviously mostly just rambling here and not really trying to offer any predictions... just pointing out what feels important to watch right now.

Yea I completely agree. I am still bias to putting a final low in at 1.10/1.12, but if the actions/reactions of the trading in this range lead to the outcome of this support level holding, then I guess it holds!

Speaking of what's important to watch, I'm surprised there is so little chatter about the yellow metal, and metals in general right now. I'm watching gold closely as any regular thread reader must know at this point. There are a few swing highs to watch today and in the coming 1-2 weeks,

1633.30
1635.40
1642.40

For future week-2 wks 1672.30.

If you look at the daily since late June, GC has a nice patter of higher swings. It really needs the 1633.30 to keep the string going, and IMO I am probably here but Gold really looks like it is about to take off for real. Silver is actually beginning to look parabolic since it broke the descending channel it had been in solidly since May 2011. Hopefully this is one of those times where gold looking like easy money doesn't make me the sucker.

ED: WHOA... holy stop run batman.

Has anyone else noticed that platinum futures ran close to 100 bucks in about 3 days in the last week?? What a move. Platinum historically does not linger below gold for all that long, it's still got a lot of work to do, especially if gold does make its own move. One more reason why I like SWC so much here.

haha, yea I just missed that rip.. didn't quite realize it was as close to 8:30 as it was (/fail).. I have been watching yellow the past hour.

Wow... there's our new HOY. Got that poll wrong.

Here is the latest guy who has been making all the right calls on the last few macro swings. He is basically saying "I am Kevin1612, hear me roar!"

http://www.businessinsider.com/bob-janjuah-time-for-action-warning-over-2012-8

A lot of negativity on this rally from some of these calls. What are your guys thoughts? I'm leaning bullish until Jan-Feb to repeat rallies of '09, '10, '11, but these guys seemed convinced we are about to have a massive pullback, worse than what we've already seen this year.

 

SLV and GLD gapping up nicely this morning.

 

Those GLD calls are now at 1.50 

I don't do this often, but

Now off to make myself another freakin' KOOL AID breakfast!

Looks like $BAC Gapped above dbl top resistance of 8.22. Shorts covering...Banks showing strength

AAPL may be putting in a top today, this volume is ridiculous 

 

Boom URBN ..... gapped to 37.00

Sold a bunch of miners into this move... might regret it but held on to enough so that it doesn't really matter... sold some EXK 8.80s, SSRI 13.80s and SWC 10.50s. Still have some EXK and SSRI, looking to reload the former below 8.50, and also have my eyes on MVG which I have never traded but the chart makes me drool.