06/22/2011 Intraday Watering

[uempel]

for an active trader, if you have to pull out weekly or monthly charts during the week day, the market is choppy. I am bullish bias but this area is still a good sell the rally spot, a pull back will create a good buying opportunity or shot up above 130 straight from here. not selling unless it trades under 129ish for me.

60 min chart which works with momentum and MAs is on a buy signal, doesn't mean that the index can't drop to 1280, but the short trend is up and the first target above 1295 happens to be 1315ish (applies only if my indicators are not playing games with me...)

[Tabby]

My uncle is very smart and powerful, the whole world is looking to his leadership.

[99er]

EURUSD
Heads Up!
http://99ercharts.blogspot.com/2011/06/eurusd_3504.html

[janez]

FXI. Anyone following this? I am watching it for a potential long.

[tao]

Cobra,
Thanks for the great job you've been doing here!
Could you or any other trader here comment on the negative money flow on SPY? -200M plus both yesterday and today(so far).
TIA.

[Anaconda]

Well, now we have the facts: "Federal Reserve Lowers GDP, Raises Unemployment And Inflation Projections" Load up and go long. With such awful news, how can it be anything but positive for the markets here in Wonderland?

[ballatines]

Well, now we have the facts: "Federal Reserve Lowers GDP, Raises Unemployment And Inflation Projections" Load up and go long. With such awful news, how can it be anything but positive for the markets here in Wonderland?

can we have a vote of non confidence? dual mandate .... achieved anything .. !?

[BullBear52x]

Fear factors said fear no more....my long date MACD is turned down today, let see if we close as is here, if so, buy the dip is triggered.

[Cobra]

Ahh, Cobra, I'm less bearish than you. Don't know about the very short term, but sentiment is too bearish and I'm long and waiting for a bounce up to 1316 - not necessarily today or tomorrow, but give me a few days...

SPXweekly.png

I'm not bearish.

Are you bullish?

I'm snake-ish. pay close attention to my short-term demo account, that's not completely fake one, it actually reflects what I'm most doing for the short-term.

[Cobra]

Cobra,
Thanks for the great job you've been doing here!
Could you or any other trader here comment on the negative money flow on SPY? -200M plus both yesterday and today(so far).
TIA.

I won't read too much on that, just myself. some do read a lot - negative money flow is not good.

[BullBear52x]

61.8% it is

[Cobra]

nothing to say, the chart so far doesn't look bearish as long as no big pullback here.

[cletus]

Looks like I'll be on the board one more day because these SPY puts and GLD puts might not have run their course yet and there could be further weakness into Friday. Let's see how today closes, but gold is reversing today. It's worth one more day to wait.

[KENA]

It looks like we could test the morning lows.

[Cobra]

the only problem still is ChiOsc too high, so a little more consolidation here instead of pullback would be very bullish.

[BullBear52x]

It looks like we could test the morning lows.

If we do test LOD anything under 129 is a sell to me.

[ballatines]

i see block trade on SPY today for two days. This time IWM also got some money out ~~

[alf]

euro, gbp are down.

[KENA]

It looks like we could test the morning lows.

If we do test LOD anything under 129 is a sell to me.

I agree.The low was128.92.Premkt a little lower.I will maintain to be bearish if this happens.

[Cobra]

text book double top target. still nothing to say, let's wait dust clear first.