05/20/2011 Intraday Watering

[cletus]

cletus: "Wow, that's a bold prediction..."

Not really. Channels work well and prices generally go up and down within them.

You need to start studying volume patterns. They are more reliable than channels. You need to be buying when professionals are buying.

[Cobra]

now let's see if this is a 3 push up or something else. my guess is maybe it's something else.

[99er]

cletus: "You need to start studying volume patterns."

You're right...I should. But I'm concentrating on prices right now--simple patterns and candlesticks. I'll get to the other stuff over time.
Thanks for the suggestion.

[StrikePrice]

cletus: "Wow, that's a bold prediction..."

Not really. Channels work well and prices generally go up and down within them.

You need to start studying volume patterns. They are more reliable than channels. You need to be buying when professionals are buying.

I like to look at Money Flow rather than Volume. Here's a good site for it:

http://online.wsj.com/mdc/public/page/2 ... mdc_leader

[gabor]

now let's see if this is a 3 push up or something else. my guess is maybe it's something else.

The gap works as a resistance.

[pezhead9000]

cletus: "Wow, that's a bold prediction..."

Not really. Channels work well and prices generally go up and down within them.

You need to start studying volume patterns. They are more reliable than channels. You need to be buying when professionals are buying.

I like to look at Money Flow rather than Volume. Here's a good site for it:

http://online.wsj.com/mdc/public/page/2 ... mdc_leader

Do you find direct correlation with the money flow? do you look primarily at the % of block trades?
thanks.

[Cobra]

hopefully it could go like this.

[StrikePrice]

I like to look at Money Flow rather than Volume. Here's a good site for it:

http://online.wsj.com/mdc/public/page/2 ... mdc_leader

Do you find direct correlation with the money flow? do you look primarily at the % of block trades?
thanks.

I look at is as a "What is the smart money doing?" For example on 4/29 SPY was at the top of the Selling on Strength, which became a great indicator of the weakness that followed starting 5/2.

Not sure if that answers your question.

[99er]

StrikePrice: "I like to look at Money Flow"

Thanks for the link; I'm sure many of us did not know about this.

[99er]

TF
Heads Up.
http://99ercharts.blogspot.com/2011/05/tf_20.html

[starix]

cobra, is it possible an inverse head shoulder in formation?

hopefully it could go like this.

[Cobra]

cobra, is it possible an inverse head shoulder in formation?

hopefully it could go like this.

yes, that's possible. a strong close today would mean that bears are over AGAIN. but now the question is how the market closes?

[99er]

SPX
Here we go...
http://99ercharts.blogspot.com/2011/05/spx_5268.html

Gotta run. Thanks, Cobra, and have a great weekend everyone.

[jynmax]

TARGET REACHED

[gabor]

hopefully it could go like this.

Isn't it time to open short position?

[Cobra]

TARGET REACHED

i saw bigger Head and Shoulders Bottom on the 60 min chart, so the only question is how the market close today.

[Cobra]

hopefully it could go like this.

Isn't it time to open short position?

direction not clear and now I'm a little bullish biased.

[jynmax]

may be we will se a huge gap down on monday,just a guess~~~

[StrikePrice]

The Bears are defending the two lines of resistance here very well.

Thanks Cobra for pointing out the IHS. The close and Sunday overnight is really going to show us the direction for the coming weeks IMO.

I remain Bullish until today's low is taken out.

[gabor]

hopefully it could go like this.

Isn't it time to open short position?

direction not clear and now I'm a little bullish biased.

OK, lets see the close. But I am sure the market will leave us in a doubt as always. It closes at a resistance line or like.