06/09/2011 Intraday Watering

[cougar]

SPX at resistance and VIX at support…and both undecided about what to do next…
Is that true?

[Cobra]

overshot plus L4, this is not the follow-through I talked. but still need see more bars...

[Cobra]

Here it is on a bigger picture:

bigger picture.gif

thanks and welcome aboard!

[Roadrunner]

I am very suspicious that the overnight flash crash in natural gas was essentially a communication of a pullback level, so UNG should still drop for aways lower, but not much, at least on this first leg down.

UNG seems like a dog that is destined for zero. Do you really think the Bush family and their oil connections will allow natural gas to flourish? lol

NG is cheap energy, cheap is key word.

Got stopped out on on the overnight flash - but I was going to cover today anyway; cause I was expecting bullish report. The trend is whipsawing my positions. I'm bearish too for a week - until next report.

[cletus]

Here it is on a bigger picture:

bigger picture.gif

Welcome, thanks for the chart. It is helpful. Maybe a turn lower tomorrow?

[alphahorn]

my best guess at the count, i didn't have time for my typical nomenclature, but you get the message

[PLUNGE]

Here it is on a bigger picture:

bigger picture.gif

Welcome, thanks for the chart. It is helpful. Maybe a turn lower tomorrow?

cletus, I agree with a turn lower based on Wolfe Wave target. If someone can tell me how to enclose a chart from Stock Charts.com I can share it here.

[cletus]

Here it is on a bigger picture:

bigger picture.gif

Welcome, thanks for the chart. It is helpful. Maybe a turn lower tomorrow?

cletus, I agree with a turn lower based on Wolfe Wave target. If someone can tell me how to enclose a chart from Stock Charts.com I can share it here.

Click on "Post Reply" to get the full editor. At the bottom of the screen there is a box to upload a file.

[TrendTrade]

Here it is on a bigger picture:

bigger picture.gif

Welcome, thanks for the chart. It is helpful. Maybe a turn lower tomorrow?

Thanks guys! Personally I would like to see a cross on the 15 min MACD before close... then I think we will work our way down to 1250ish or so (lower blue line on "bigger picture" chart)

[Cobra]

ok, it is head fake, but still bears need a lower low. I see 2 legged down here but before that still not sure if the day high will be tested first. today's trading is very subtle, I cannot explain why I didn't, like usual, call Ascending Triangle breakout, instead had a little doubt about the breakout.

[cletus]

ok, it is head fake, but still bears need a lower low. I see 2 legged down here but before that still not sure if the day high will be tested first. today's trading is very subtle, I cannot explain why I didn't, like usual, call Ascending Triangle breakout, instead had a little doubt about the breakout.

I think your instincts were that this grind up was a lot of shorting covering on light volume.

[Cobra]

green line below being the target, indeed this is going to be a 2 legged pullback...

[cougar]

It looks like some market engineer forgot to recharge the battery of the TRIN!

[Cobra]

volume surge, the next bar will be important.

[oldpigwang]

Cobra: do you think its time to buy spy put?

[Cobra]

a little explain about what I saw here, the last push appeared to lose the momentum so 2 legged down here. just for intraday pattern, the bigger picture, it's a bear flag so far.

[Cobra]

Cobra: do you think its time to buy spy put?

cannot say, but you'll see what I generally would do in my demo account in today's trading signals. no guarantee to win but it's based on statistics.

[Cobra]

Cobra: do you think its time to buy spy put?

after bell trading signals don't help on your puts of course, i know.

[Cobra]

volume surge again, so the next bar is important.

[Cobra]

any of you guys paid attention when snake is yawning and when snake gets excited?