05/18/2011 Intraday Watering

[Cobra]

Flat open, any gap will be filled. I have no idea what the market will do today. Purely from feelings the Global ES looks incomplete so there could be some push up today. On a little bit bigger picture, as said in the last night report, it's a bear flag so the selling should not be over yet, well, just NORMALLY and this is no normal market at all, so we'll have to wait and see.

[wave]

Gut feeling, today is a bullish day.

[brownstein00]

opx games in play

[99er]

Good Morning.
The day may be off to a good start...
EURUSD: http://99ercharts.blogspot.com/2011/05/eurusd_3156.html
Accelerated channel.

[99er]

ES
Appears that prices are prepared to fall to the lower channel line (red) and in so doing finally break down out of a long-standing rising channel (grey).
http://99ercharts.blogspot.com/2011/05/es_7676.html

[maldini]

BULL trend day!

[cletus]

Long AGQ and SLV silver calls as of yesterday morning and they're up huge today. Get on board the silver rally while you still have a week till the next turn date.

[99er]

RUT
Looking for a break of that first neckline today.
http://99ercharts.blogspot.com/2011/05/rut_18.html
There's another one below.

[cletus]

More on Silver

[99er]

DXY
Looks like a right shoulder developing today.
http://99ercharts.blogspot.com/2011/05/dxy.html
IH&S.

[BullBear52x]

GM,
Back test zone, little up and down, me predicts.

[Cobra]

the open.

[BullBear52x]

SPY will top out at bear flag top channel a turn there we will also have negative divergence.

[Cobra]

just a guess overshot plus volume surge, could be a pullback or consolidation here?

[Cobra]

the open 60 min bar doesn't look good - Doji under EMA20, also don't forget ChiOsc above.

[gabor]

the open 60 min bar doesn't look good - Doji under EMA20, also don't forget ChiOsc above.

I still see a bullish chance.
If breaking back to the channel fails, then the most bearish scenario is the dashed red line.

[BullBear52x]

Now we are at the extreme price resistance level, look at RSI, not that strong isn't it? I will not add on my shorts here it's against my rule but if I hadn't had a position this is the area I will start selling.

[StrikePrice]

My guess is Bulkowski wrote about this chart pattern for a good reason. We shall see today.

http://thepatternsite.com/Blog.html#P17

I'm leaning to upside until trendline is broken. It's currently pointing to 1400 by middle June, so we have to consider that until a break.

[waver]

the open 60 min bar doesn't look good - Doji under EMA20, also don't forget ChiOsc above.

I still see a bullish chance.
If breaking back to the channel fails, then the most bearish scenario is the dashed red line.

If we have impulsive up waves, the black 3 and 4 could be the less degree wave and wave [ii]. Now we are in wave 3-[iii]-(iii) now.

-Waver

[99er]

10-Year Note
Bonds, Ben. Bonds.
http://99ercharts.blogspot.com/2011/05/10y_18.html