05/16/2011 Intraday Watering

[Cobra]

lunch time. will be BACC.

[99er]

ES and ZB
Hey Ben...
http://99ercharts.blogspot.com/2011/05/es-zb_16.html
Got a paddle?

[Cobra]

the rebound looks good, now facing a little resistance.

[foakdoordoor]

lunch time. will be BACC.

I guess you did not have beef today.

[Cobra]

lunch time. will be BACC.

I guess you did not have beef today.

I had a few frogs and mice.

[agnosia]

quick lunch cobra! i dunno i think this market is out to chop everyone and go nowhere... i stick to my projected close of 1333...

[Cobra]

ok, here's what I see, although I still cannot exclude the possibilities that we'll see a reversal of reversal of reversal of reversal today because nowadays bulls are simply full of surprises. just I see the volume for the rebound is, well, pathetic, doesn't look like something strong. Guess, we'll have to wait and see.

[StrikePrice]

After moving down strongly from the open the VIX has recovered and is in it's key area between the Pivot and R1.

This type of action agrees with those saying we'll be range bound for most if not all of the week.

The VIX needs to take out 18 or fall below 16 to bring conviction to the market one side or the other.

[FJoe]

Going forward, if we close above the open today, we should gap up open tomorrow and go. Today should have been a down day in the market and we have now tested the 1330-1332 area 4-5 times on the S&P...this is similar to the bottom in November of 2010.

So if we open up tomorrow, it should make for a great swing trade going forward. A down open tomorrow likely means we are headed much lower.

Just my 2 cents.

[Cobra]

ok, just a guess, no evidences, judging from QQQ, the rebound looks like a Bear Flag, so if QQQ rebound fails it'd put pressure on SPY.

[soku]

damn, i missed the drop. expensive lunch
it seems to me bears in control now. es may test 1326.25 globex low for this move.

[Cobra]

indeed a pullback, like my timing, by the way? anyway, i cannot say the chart doesn't look bearish anymore, but we need see the next few bars, critical time, I shall say.

[StrikePrice]

If TLT breaks up and holds the BULL case will be significantly weakened.

[Cobra]

as long as people are indifferent...

[BullBear52x]

I call this a coming crash be on the right side again lucky me

[agnosia]

ok here comes the attack on the 1325.25 stops... i will cover right below and go long... come on boys, i can play your little games too lol.

[soku]

took half off the table. my vol study shows 1329.5 is 1 major support.

[BullBear52x]

No buying divergence this morning tells me this rally will be sold, lower RSI at the very opening, love TA. I didn't know it will sold off right away in the same day like this. this is not good Bulls.

[Cobra]

should be a rebound of some kind here. a rebound could be weak, lower odds it'd be very strong but you never know though.

[BullBear52x]

Fifth trials.