11/09/2011 Intraday Watering

[jarbo456]

I withdrew this chart the last minute before I post my last night report, as I thought the chart is too subjective (you need experiences to read that way). Anyway, assume we have another PM resign today, the market manage another sharp reversal, but too late, the overlapping is too obvious therefore it's clear 3 push up, aka rising wedge, so it'd be not much for bears to ask for a 2 legged down from here, well, again, I mean NORMALLY.

NOOOOOOO....you mentioned two leg down (normally)....

i'm covering my shorts here.

[soku]

If we break 1240 then the 1215/1220 we can go to 1200.This may be tough to break.The mkt has the 38.2 fib at 1210 the 50 day at 1200 and 1190 res. area. If we get there this may be a good place to take profits.Wait and see.

u getting greedy
i see pretty good support around es 1235. we need external force to break it.

[uempel]

From our friend W. D.

[Al_Dente]

Fib 76.4% support line. if failed here I am looking at 50%

we'll call that your "Chaise Lounge Indicator"

[Cobra]

I withdrew this chart the last minute before I post my last night report, as I thought the chart is too subjective (you need experiences to read that way). Anyway, assume we have another PM resign today, the market manage another sharp reversal, but too late, the overlapping is too obvious therefore it's clear 3 push up, aka rising wedge, so it'd be not much for bears to ask for a 2 legged down from here, well, again, I mean NORMALLY.

NOOOOOOO....you mentioned two leg down (normally)....

i'm covering my shorts here.

I also mentioned another PM or better president resign today and we shoot up high 1000 points.

[rhight]

Possible breakout of diamond top pattern and intermediate trend line this morning. This could be the beginning of an intermediate downtrend (3 weeks, maybe).

A big clue this was going to happen lay in the many negative divergences that are very similar to the double top in July 2011. A similar waterfall decline is possible but difficult to predict. Another clue can be seen in the lack of volume during the second top. Many layers of support, but probably at least 3 waves down on 60 min. cycle. IMHO

[BullBear52x]

I withdrew this chart the last minute before I post my last night report, as I thought the chart is too subjective (you need experiences to read that way). Anyway, assume we have another PM resign today, the market manage another sharp reversal, but too late, the overlapping is too obvious therefor it's clear 3 push up, aka rising wedge, so bears could expect 2 leg down thereafter, well, NORMALLY.

What if the floor now is breached? gap down below 5dma is very serious. Fib support is strong here but this run up is so much on fume.

[KENA]

If we break 1240 then the 1215/1220 we can go to 1200.This may be tough to break.The mkt has the 38.2 fib at 1210 the 50 day at 1200 and 1190 res. area. If we get there this may be a good place to take profits.Wait and see.

u getting greedy
i see pretty good support around es 1235. we need external force to break it.

Ya..and my CAT is doing great again..When are you coming home.

[jarbo456]

bleh. looks like SPY about to break above S2 which was acting as resistance. crappy bears.

[Al_Dente]

JARBO: “””do i need a new browser for each chart? everytime i try to tab open a new chart, it switches everything to the new ticker”””
if u want to “lock in” a chart
eg: SPY, top left of chart click SPY yellow symbol, type SPY, > ONLY THIS CHART > OK
every time I create new chart/tab, I have to “reinvent the wheel” via “settings” … dial in color again, style, etc, pain in butte… if you find a way to “create the dang new chart based on my previous settings already”…. please post

[heavenskrow]

spy holding 20day MA on daily.

[Cobra]

From our friend W. D.

2.png

I read this chart as the back test of the Oct 27 highs was over, you Earth people now officially trying the opposite side.

[Cobra]

I withdrew this chart the last minute before I post my last night report, as I thought the chart is too subjective (you need experiences to read that way). Anyway, assume we have another PM resign today, the market manage another sharp reversal, but too late, the overlapping is too obvious therefor it's clear 3 push up, aka rising wedge, so bears could expect 2 leg down thereafter, well, NORMALLY.

What if the floor now is breached? gap down below 5dma is very serious. Fib support is strong here but this run up is so much on fume.

I was saying the bullish bearish case. Your case is more normal, we should continue down from here.

[Mr. BachNut]

Good Morning!
NDX seems to be now a good short, for a longer ride:

Stocktiming says the NDX could see a 300+ point drop..How long will it take they don't say.Lets see.

Wow! I have first serious support around NDX ~ 2279

There is an intriguing Head and shoulders neckline at 2597 that could get me short. Until then, I'll watch.

[Cobra]

open range. I said it's too stretched, so the rebound is expected. we might need wait until EMA20 catching up.

[jarbo456]

posting a cover of my shorts at a break above 125.25. looks like a mini ascending triangle breakout, with a target of about 125.20.

[pady]

Is there any retail investor left in the market ? This doesnt appear panic selling.

[agnosia]

whoever bought is an idiot. Dollar broke out of a significant bull flag. Its liquidation trade.

we like constructive criticism here .. no name calling please.

i am also long /cl 94.60, double bottom ?

[Cobra]

come on, there must be someone resign today to save the world as we've seen many times in the movie, right? we're all waiting...

[Dow Trader]

after3 days trying, vix finally made it for MACD hourly to be positive but no confirmation yet