06/23/2011 Intraday Watering

[Tabby]

The crucial vote in Greek parliament is on 28th/29th and the Greek trade unions will do another round of protest. Till then I think it is a sell the bounce

Earning starts with AA on July 11 and we have 4th of july as holiday ahead of us. All add up with some fake heads up to 1300+ level.
They just need to extend this a little longer to earning with some fake analysts coming out and upgrading companies.
BTW, I was watching IBM and it was correlating with $SPX.

[Cobra]

critical here, but no time now. no idea what's going on here.

[Cobra]

well, guess that's it for today, need dip more for what't the next, clueless now, seems bears are over. thank you guys, i'll see you tomorrow.

[99er]

Cobra: "no idea what's going on here"

Only god and GS know.

[Bencat]

right, the price action today suggest that bears are dead for a while.

[BullBear52x]

Trading up tomorrow, bears will be so death..... time to study mother of all reversal is in the making.

[pidge66]

As promised, here are the final results!

Will the Market revisit the June 16th low (SPY = $125.70)? Answered question: 38

71.1% (27)
Yes - Market will make a new low before any significant rally.

13.2% (5)
No - Market will rally from here.

15.8% (6)
Maybe - Market is confusing, that's why I visit this blog in the first place!

Thanks guys!

Is this data to be used as contrarian indicator?

[HK88]

Not an expert opinion but just from price actions and IWM, QQQ, and others outperforming and a close above critical level of 1280 is bullish I would say. GLTA trading this market cause we really need some

[illinikap]

That last 30-60 minutes was ridiculous. Seems like window dressing and the usual ramp job by the algos

[99er]

SPX
Anf God created Butterflies.
http://99ercharts.blogspot.com/2011/06/spx_2028.html

[Anaconda]

That last 30-60 minutes was ridiculous. Seems like window dressing and the usual ramp job by the algos

If it looks unnatural and it feels unnatural...it's probably unnatural.

Watch the dollar. As I said earlier, the dollar was used to bring down the markets. Tomorrow, when Europe is back open, watch what happens to U.S. stocks.

[andyzaky]

The ChiOsc is out of control high. Highest it's been in nearly a year??

[bbc]

How does one uses TA in such a manipulated , ****ed up market?

You cannot, it has been into a casino nowadays...

it always does, it always will

[bbc]

How does one uses TA in such a manipulated , ****ed up market?

TA is just statistics based. Of course it fails sometime not to mention some TA is ambigious.

even for RSI, buy when RSI cross above 50 makes you a trend follower, sell when RSI cross above 50 makes you a counter-trend trader.

[BBFinance]

well, guess that's it for today, need dip more for what't the next, clueless now, seems bears are over. thank you guys, i'll see you tomorrow.

Well Cobra, the fun starts now. They have started selling the Euro back.

[progruss]

Is this data to be used as contrarian indicator?

This is not an indicator, just raw data.

[99er]

Dow Futures (YM)
Very interesting.
http://99ercharts.blogspot.com/2011/06/ym_23.html

EURUSD
Tres interessant.
http://99ercharts.blogspot.com/2011/06/eurusd_4658.html

ES
Most interesting.
http://99ercharts.blogspot.com/2011/06/es_7306.html

NQ
And for fun...
http://99ercharts.blogspot.com/2011/06/nq_23.html

Have a nice evening!

[DaWay]

Hi, five guests out there. I just wanted to share my updates posted in Traders Talk just now, and in my blog too, maybe some of you will check back in here before Fri open and find this useful.
http://www.traders-talk.com/mb2/index.p ... pic=131946

[rhight]

Initial Post :

Consider this possibility, excuse me if this has already been proposed:

Intermediate 5 wave downtrend from May high at SPX 1370 to
wave 1 down (composed of 5 waves) to 1311 on 5/25 to
wave 2 up to 1345 on 6/1 to
wave 3 down to 1258 on 6/16 to
wave 4 up to 1299 on 6/22 to
wave 5 down to ???

I'll be working on some time and price projections over the weekend.