10/21/2011 Intraday Watering

[MrMiyagi]

123.2 retest time..

Tried to break through 123$ twice and failed so in my opinion it won't make it for now.

Target has been reached.

Yep.. sure has.
Back down now from the looks of it!

[ricster3]

RUT
http://99ercharts.blogspot.com/2011/10/rut_9682.html

Thanks again

[uempel]

Two alternates. Up or down...

Pady, a breakout at 1240 would be quite remarkable. It would be incredibly bullish...

[pablorynx]

is this a first? does no one else see that phantom bar?

[waverider]

I don't like today's market. Not sure if this of concern to anybody but me, let me explain: normally I operate with the pivots at the precise point where a channel breaks. I use these pivots for Andrews Forks, Fibs, Fans, Ellipses - anything. And it works - not always, but most of the time. The market finds its new direction at the channel breaking point and fans out from there.

But today things went awry. It took me about two hours to notice that my system was not working. Didn't lose much money, but I'm because in general my system works. The algos are out of sync today...

SPX7.png

Thanks Uempel, this is a great chart! I'm gonna study it for a bit.

[Masm]

Exit ES @ 1227.25

[tdo722]

okay, take this with a grain of salt but on my chart, i'm seeing spy just popped up above 200ema but what's more intesting is all of my slow ema is below all of my fast ema to confirm this rally will last.

[99er]

Wieners

Grilled beef hot dogs for lunch.

SPX http://99ercharts.blogspot.com/2011/10/spx_1204.html

In other words, the Bulls are done.

Wieners...as in bratwurst and other German sh*t.

[StrikePrice]

Looks on schedule for the higher high to me. Bulls cross your fingers...

[uempel]

Because it is Friday, lets update the weekly chart. Check the broken trend line that SPX is fighting

Yeah Dow, makes sense, thank you. But SPX could keep on creeping sideways beneath the weekly channel line - and annoy us all.

[Al_Dente]

CORRECTION watch everything for possible big reversal

Dumped TVIX a few minutes ago...

who knows, just can't fight BIG green sqz bars on DIS HD JNJ etc
OH, i know who knows NYADV 2473
as usual, 5min sticks that CLOSE red cancels sqz alert, at this point spy still flirting w vwap

[ultramarine]

UPDATE (gave more specifics -- see blue highlight)

FYI ... since I have "been there" and learned: I took profits today on my TNA trade. Got in yesterday at 38.38 and exited today at 42.02. Triggers: 10MA < 20MA on 5 minute and stochastics on the 15MA hit 78. Note: I use a 144/3/3 parameter on 15MA stochastics. Key to profits is discipline/patience. I'll wait to get back in when stochastics move lower than 20 again and then come up again above 20. Otherwise, I'll just go enjoy my day now and enjoy my profits. Have a nice weekend!

Thanks SK! Do you mean the STO for the 15 min chart (instead of 15 MA) ?

Oops! Indeed, I made a mistake. Yes, I meant on the 15 min chart. I do that kind of stuff all the time! Think I'm dyslexic!! This parameter makes a HUGE difference. I learned it from some other stockcharts.com trader and it works for me.

Very cool. I will check it out. I know that customizing the parameters on indicators can produce some useful extra info. Lengthening the number of time periods on indicators is a common modification. For example, I heard of changing the number of periods from the usual 14 to 40 for the Williams %R on the 5min chart. This produces fewer hits when they reach the overbought/oversold line but then they do, they may be more robust. Fewer false positives.

Good luck! Let me know if it works out for you.[/quote]

Will do! Thanks for sharing. One question. It stays overbought or oversold for a long time with the 144,3,3 parameters. Do you wait for hits to the 20 line for going long or are you relying more on a bullish crossover with the signal line? I noticed it didn't quite make it down to the 20 line yesterday around the time that you bought TNA. Close enough perhaps...

[STC]

Cobra, is today consider a decisive break out on SPY if it closes above 123.5 and not decisively break out if it closes below 123.5?

[pady]

Two alternates. Up or down...

Pady, a breakout at 1240 would be quite remarkable. It would be incredibly bullish...

B.png

Gap fill ( the opening today ) could be end of 2 of 5 and then on our way up. I am going long if we get to 1220. Maybe Monday morning.

[ultramarine]

Wieners

Grilled beef hot dogs for lunch.

SPX http://99ercharts.blogspot.com/2011/10/spx_1204.html

In other words, the Bulls are done.

Wieners...as in bratwurst and other German sh*t.

Thanks. Maybe I will call you Jude the Obscure...

[Cobra]

Cobra, is today consider a decisive break out on SPY if it closes above 123.5 and not decisively break out if it closes below 123.5?

the morning breakout was a failure. any large pullback here would confirm a top of some kind, so bulls have no choice but up.

[pablorynx]

pbar 121.65

sorry, false alarm, just refreshed and pbar went away. I think I'll just wait for Cobra to speak up instead of my wishful thinking.

[Cobra]

consolidation at OR low, let's wait for the breakout, could be on either side, downside has a little bit higher odds though.

Why down side has better odd, is it because previous trend was down?

yes.

[Unique]

123.2 retest time..

Tried to break through 123$ twice and failed so in my opinion it won't make it for now.

Target has been reached.

Yep.. sure has.
Back down now from the looks of it!

JBTFD to 123.45 bro.

[Cobra]

some resistances here, key time.