04/28/2011 Intraday Watering

[Cobra]

Small gap down open within yesterday's range so the gap should be filled and perhaps we'll see yesterday's high being tested. Then I'll see if a little bit bigger pullback shall follow.

Institutional actions from stocktiming shows that institutions are not aggressively accumulating.

Meanwhile Rydex traders (retailers) are way too bullish.

[99er]

Good Morning.

Important day for Bulls and Bears alike: key may be whether prices bounce at a possible IH&S neckline (which would provide confirmation) or fall back from these possible "exhaustion" levels. As Cobra indicated last night, we at a critical Elliott Wave area. Good luck all.

ES update: http://99ercharts.blogspot.com/2011/04/es_28.html

[KENA]

I guess its a good morning..I left early yesterday and got back after mkt closed and saw the mkt bounced way up on closing. T hat was not good for my SPY short that I got just befor leaving. Maybe I will make up some of it today if mkt takes a drop. Wait and see.

[cletus]

No comment

[99er]

EURUSD
Have to keep an eye on this royal couple.
http://99ercharts.blogspot.com/2011/04/eurusd_28.html

[JJS612]

Good call on the overnight pullback. I watched with interest on the FTSE futures after hours as it hit a new high since the March 2009 levels, but still hasn't done it during trading hours yet. The Dax confirmed today, but the CAC is still short of new highs.

Where do you feel this pull back will head to, as I would expect the S&P to be headed to 1344 where I have a previous wave 4. Do you think it will fill the gap first? 15min RSI suggests it could.

[Cobra]

The open.

[stocksage]

Bears will continually say this could be the day! etc. etc. Sure we could have a pullback. So we average one pullback day for 3 up days and the bears think odds are in there favor? good luck today.

[Cobra]

Good call on the overnight pullback. I watched with interest on the FTSE futures after hours as it hit a new high since the March 2009 levels, but still hasn't done it during trading hours yet. The Dax confirmed today, but the CAC is still short of new highs.

Where do you feel this pull back will head to, as I would expect the S&P to be headed to 1344 where I have a previous wave 4. Do you think it will fill the gap first? 15min RSI suggests it could.

Yes, fill the gap. What day is today, how come people are so quiet? No one coming? Is my forum doomed thanks to Ben?

[BullBear52x]

GM,
short term support.

[KENA]

COBRA..I hope it is not doomed..I enjoy the blog..It makes the day more interesting.

[noidea]

Good call on the overnight pullback. I watched with interest on the FTSE futures after hours as it hit a new high since the March 2009 levels, but still hasn't done it during trading hours yet. The Dax confirmed today, but the CAC is still short of new highs.

Where do you feel this pull back will head to, as I would expect the S&P to be headed to 1344 where I have a previous wave 4. Do you think it will fill the gap first? 15min RSI suggests it could.

Yes, fill the gap. What day is today, how come people are so quiet? No one coming? Is my forum doomed thanks to Ben?

...not doomed yet, but nearly there....

[noidea]

Good call on the overnight pullback. I watched with interest on the FTSE futures after hours as it hit a new high since the March 2009 levels, but still hasn't done it during trading hours yet. The Dax confirmed today, but the CAC is still short of new highs.

Where do you feel this pull back will head to, as I would expect the S&P to be headed to 1344 where I have a previous wave 4. Do you think it will fill the gap first? 15min RSI suggests it could.

Yes, fill the gap. What day is today, how come people are so quiet? No one coming? Is my forum doomed thanks to Ben?

...not doomed yet, but nearly there....

i mean.. the blog is not doomed, is just fantastic...

i am nearly doomed!!!

[JJS612]

OK, gap filled. Now lets see what they have planned for us today.

[Tabby]

I enjoy your forum, just waiting to see if there is a pullback and how far??????????!!!!!!!!!!

[BullBear52x]

It's not a bad idea to get some EDZ and FXP guys, looks like the emerging market is hitting the peak.

[Cobra]

I enjoy your forum, just waiting to see if there is a pullback and how far??????????!!!!!!!!!!

well, believe me, there'll be a pullback. I'm more than 80% sure. For now I just wish the market could push higher for one more day. Pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

[JJS612]

Good call on the overnight pullback. I watched with interest on the FTSE futures after hours as it hit a new high since the March 2009 levels, but still hasn't done it during trading hours yet. The Dax confirmed today, but the CAC is still short of new highs.

Where do you feel this pull back will head to, as I would expect the S&P to be headed to 1344 where I have a previous wave 4. Do you think it will fill the gap first? 15min RSI suggests it could.

Yes, fill the gap. What day is today, how come people are so quiet? No one coming? Is my forum doomed thanks to Ben?

Cobra, the forum is great, I do enjoy the rolling daily comments from all. A note on the format - how hard would it be to use an auto refreshing comment system so new posts automatically update - similiar to Nates blog over on Economic edge?

[BullBear52x]

I enjoy your forum, just waiting to see if there is a pullback and how far??????????!!!!!!!!!!

well, believe me, there'll be a pullback. I'm more than 80% sure. For now I just wish the market could push higher for one more day. Pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

I got my stops at the top wedge line, I hope it didn't go up that far.

[99er]

10-Year Note
Climbing above a key level headed for the upper boundary of a rising channel.
http://99ercharts.blogspot.com/2011/04/10y_28.html
Bill?