05/12/2011 Intraday Watering

gabor · Post by **gabor** » Thu May 12, 2011 1:38 pm

Cobra wrote:OK, I'm BACC. As I said more up, now we have a new channel. bears couldn't make a lower low so bulls look good now.

I think it breaks out of the channel and forms a 5th wave extension on it.

uempel · Post by **uempel** » Thu May 12, 2011 1:46 pm

Looks like a zigzag, 32 to 42 and 39.20 to 49.20:

Post by **Cobra** » Thu May 12, 2011 1:54 pm

this kind of consolidation is bullish, so more on the upside.

Post by **Cobra** » Thu May 12, 2011 1:56 pm

StrikePrice wrote:
Cobra wrote:OK, I'm BACC. As I said more up, now we have a new channel. bears couldn't make a lower low so bulls look good now.
Cobra,

This looks like a 3 push up, yes?

no, it's not. stronger than 3 push up.

nikman · Post by **nikman** » Thu May 12, 2011 1:57 pm

gabor wrote:
Cobra wrote:OK, I'm BACC. As I said more up, now we have a new channel. bears couldn't make a lower low so bulls look good now.
I think it breaks out of the channel and forms a 5th wave extension on it.

What does "5th wave extension" mean? Does it mean the breakout will be to the upside or downside?

BullBear52x · Post by **BullBear52x** » Thu May 12, 2011 2:04 pm

135 is a must hold for Bulls to be sucess. >135.37 I'll be back in Bulls camp, right now it looks like a retest of 5dma and finding buyers right around 135, but the volume is not all that impressive, (I know volume got look over long ago, doesn't count any more

) in any case a trade above 134.75 is bullish into tomorrow IMO.

Post by **Cobra** » Thu May 12, 2011 2:09 pm

breakout, yes, there's more.

uempel · Post by **uempel** » Thu May 12, 2011 2:12 pm

uempel wrote:Looks like a zigzag, 32 to 42 and 39.20 to 49.20:

wrong, no zigzag.

BullBear52x · Post by **BullBear52x** » Thu May 12, 2011 2:14 pm

Since I am bearish bias right at the moment, lets look at my excuse.

ActiveTrader · Post by **ActiveTrader** » Thu May 12, 2011 2:22 pm

Does anyone think we might retest 1340 before going above 1357 on ES in the next or so? Or do we just have to chase this move up?

Post by **Cobra** » Thu May 12, 2011 2:25 pm

finally losing some momentum. but my guess is still one more push up to test the high made a momentum ago. In case you're wondering, well, today's action is quite normal, remember what I said about an important top? yes, that's reversal of reversal of reversal...

Post by **Cobra** » Thu May 12, 2011 2:26 pm

multiple support here.

uempel · Post by **uempel** » Thu May 12, 2011 2:37 pm

Bye guys, I've had enough, two trades, no big money.

viewer · Post by **viewer** » Thu May 12, 2011 2:50 pm

uempel wrote:Bye guys, I've had enough, two trades, no big money.

Me, too.

uempel · Post by **uempel** » Thu May 12, 2011 2:53 pm

Definitely last post for today:

StrikePrice · Post by **StrikePrice** » Thu May 12, 2011 2:55 pm

viewer wrote:
uempel wrote:Bye guys, I've had enough, two trades, no big money.
Me, too.

right, need the VIX to get back above 17

99er · Post by **99er** » Thu May 12, 2011 2:57 pm

SPX
Target 1319.
http://99ercharts.blogspot.com/2011/05/spx_4398.html

KENA · Post by **KENA** » Thu May 12, 2011 3:13 pm

I got a big advertising packet on Pristine trading that they call Guerrilla trading.Does any know about it??

Post by **Cobra** » Thu May 12, 2011 3:19 pm

good, I hope this at least could test the intraday high.

lostlamb98 · Post by **lostlamb98** » Thu May 12, 2011 3:20 pm

Go Go Go, Oleo Oleo Oleo

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05/12/2011 Intraday Watering

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