07/12/2011 Intraday Watering

Post by **Cobra** » Tue Jul 12, 2011 9:08 am

Flat open, any gap should be filled. Usually the day after a Major Distribution day is a small range day. The Global ES had a breakdown overnight and now jump back to test the previous support now resistance, for now it looks like a Bear Flag, so I suspect that the overnight low will be revisited eventually, may or may not be today though.

Institutional actions from stocktiming.

sycamore · Post by **sycamore** » Tue Jul 12, 2011 9:11 am

thanks. and learning

99er · Post by **99er** » Tue Jul 12, 2011 9:12 am

Good Morning.

Coffee, honey?
EURUSD http://99ercharts.blogspot.com/2011/07/eurusd_147.html
With ouzo?

99er · Post by **99er** » Tue Jul 12, 2011 9:13 am

So what's for lunch?
ES http://99ercharts.blogspot.com/2011/07/es_2720.html
Carpaccio?

cheech · Post by **cheech** » Tue Jul 12, 2011 9:14 am

We need to see 60 min ChiOsc turn negative before there's any bottom, they can't keep buying dips forever.

cheech · Post by **cheech** » Tue Jul 12, 2011 9:16 am

Now bulls may witness a "POMO free" market and get a glimpse of what the future bear market will look like (probably a year or two off)

agnosia · Post by **agnosia** » Tue Jul 12, 2011 9:19 am

man on man, last nights /es was the most volatile i've ever seen.... very thin markets, crazy moves... i covered my short in /cl and my model is about to give a buy signal...

cougar · Post by **cougar** » Tue Jul 12, 2011 9:25 am

cheech wrote:Now bulls may witness a "POMO free" market and get a glimpse of what the future bear market will look like (probably a year or two off)

...but not Fed-fre...

agnosia · Post by **agnosia** » Tue Jul 12, 2011 9:26 am

long /es 1310 for gap fill. long /cl 94.50 for gap fill.

agnosia · Post by **agnosia** » Tue Jul 12, 2011 9:29 am

cougar wrote:
cheech wrote:Now bulls may witness a "POMO free" market and get a glimpse of what the future bear market will look like (probably a year or two off)
...but not Fed-fre...

also remember all those pomo injections were not all used so the banks are flush with cash to keep the market a float.. for a while anyway.... then i'm 99% sure there will be QE3.

cougar · Post by **cougar** » Tue Jul 12, 2011 9:30 am

Although essentially bearish, NDX (daily internals) did not confirm a downturn.
A down-trending bowtie (on sub-graph 1) seems imminent, but a failed attempt would be very bullish.

Post by **Cobra** » Tue Jul 12, 2011 9:30 am

the open.

BullBear52x · Post by **BullBear52x** » Tue Jul 12, 2011 9:38 am

all indicators point to 130, one critical level here. beware of this bulls

agnosia · Post by **agnosia** » Tue Jul 12, 2011 9:43 am

gap filled on /es out for +4... /cl acting weak i'm but staying long for 95.15 gap fill. i'm pretty sure they are just taking shares from trapped longs at lower prices

Anaconda · Post by **Anaconda** » Tue Jul 12, 2011 9:46 am

agnosia wrote:gap filled on /es out for +4... /cl acting weak i'm but staying long for 95.15 gap fill. i'm pretty sure they are just taking shares from trapped longs at lower prices

You're a braver man than I on oil. I'm holding tight on my shorts. Dollar will continue to cave under current European conditions, I think. This can't help oil in any way... Demand down. Futures contract prices are laughably high, given demand and current inventories. Beware, friend. Going long could be deadly here. GL, regardless.
A

BullBear52x · Post by **BullBear52x** » Tue Jul 12, 2011 9:47 am

the selling is intensified.

lilitulip · Post by **lilitulip** » Tue Jul 12, 2011 9:52 am

Good morning Cobra, can you take a look SOX? is it bear flag broke down? and what do you expect the target is? thanks a lot

luckystar2006 · Post by **luckystar2006** » Tue Jul 12, 2011 9:53 am

Market is ready for a quick rebounce or in a trading range. I don't see much edge for market to drop much further at this moment.

cougar · Post by **cougar** » Tue Jul 12, 2011 9:57 am

Some support here for SPX

BullBear52x · Post by **BullBear52x** » Tue Jul 12, 2011 9:58 am

financial especially strong, interesting.

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07/12/2011 Intraday Watering

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