07/12/2011 Intraday Watering

agnosia · Post by **agnosia** » Tue Jul 12, 2011 2:51 pm

99er wrote:agnosia: "it's just a big game"

And some days are more exciting than others!

lol. true. i wouldn't mind it so much if it weren't a global commodity they were battling each other with.

BullBear52x · Post by **BullBear52x** » Tue Jul 12, 2011 2:55 pm

If they can not take out 133.5 this week, next week will be a lot harder.

StrikePrice · Post by **StrikePrice** » Tue Jul 12, 2011 2:58 pm

Looks more like the move UP was an A-B-C correction and this move DOWN is Impulse. No?

shumushu · Post by **shumushu** » Tue Jul 12, 2011 2:59 pm

StrikePrice wrote:Looks more like the move UP was an A-B-C correction and this move DOWN is Impulse. No?

Today's trading action has no follow through imo. All chop.

Me XMan · Post by **Me XMan** » Tue Jul 12, 2011 3:02 pm

Wait until you see Greece default on their debts. FIREWORKS!

BullBear52x wrote:If they can not take out 133.5 this week, next week will be a lot harder.

Post by **Cobra** » Tue Jul 12, 2011 3:03 pm

pullback as I said, now I have no idea what the market is doing, I'll assume a rebound of some kind here to try to revisit the high and if it's failed, then finally the rebound is over. let's wait and see.

bbc · Post by **bbc** » Tue Jul 12, 2011 3:07 pm

Cobra wrote:pullback as I said, now I have no idea what the market is doing, I'll assume a rebound of some kind here to try to revisit the high and if it's failed, then finally the rebound is over. let's wait and see.

it's just typical reaction of headlines. today, this one: U.S. Stocks Rise as Minutes Show Fed Hasn’t Ruled Out Stimulus.
first overreaction of buying then, so guys took profit as this is still just open question.

BullBear52x · Post by **BullBear52x** » Tue Jul 12, 2011 3:08 pm

Look at ES the wedge is broken down. watch out Bulls. sit tight Bears.

99er · Post by **99er** » Tue Jul 12, 2011 3:08 pm

Me XMan: Greek Default

You can bank on it.

http://www.reuters.com/article/2011/07/ ... HM20110712

StrikePrice · Post by **StrikePrice** » Tue Jul 12, 2011 3:09 pm

shumushu wrote:
StrikePrice wrote:Looks more like the move UP was an A-B-C correction and this move DOWN is Impulse. No?
Today's trading action has no follow through imo. All chop.

Interesting you should say that. Here is a simple study if VIX and SPX can both close higher than yesterday. Just noticed this and haven't run backtests, but maybe the rebound can last through Thursday?

cheech · Post by **cheech** » Tue Jul 12, 2011 3:09 pm

A close beneath 1296 in the next week of trading days still shell be!

shumushu · Post by **shumushu** » Tue Jul 12, 2011 3:09 pm

Imo, if we just consolidate like this all day, this is a bearish sign that the down trend will continue.

Sqwii · Post by **Sqwii** » Tue Jul 12, 2011 3:15 pm

We are going to have a possible -2% down day tomorrow on Wednesday as we had on Monday.... markets consolidating before lower. Look at european markets - already down below the last lows they made 3 weeks ago.... US should follow down below 1260 next imho.

Greece considers to deffault now... time will tell...

I think we have a big down day on Wednesday

rhight · Post by **rhight** » Tue Jul 12, 2011 3:23 pm

Price popped on typical Fed Minutes silliness, then sold by bots on first touch of declining SPX 60min 20MA with pronounced negative divergence on TICK. We'll see, but I suspect that any move back above the 60 min. 20 MA will be viewed as an opportunity to sell. TICK is schizophrenic today. Bespoke had this interesting observation on Seeking Alpha
http://seekingalpha.com/article/279088-a-manic-market

WhyNot · Post by **WhyNot** » Tue Jul 12, 2011 3:25 pm

Sqwii wrote:We are going to have a possible -2% down day tomorrow on Wednesday as we had on Monday.... markets consolidating before lower. Look at european markets - already down below the last lows they made 3 weeks ago.... US should follow down below 1260 next imho.

Greece considers to deffault now... time will tell...

I think we have a big down day on Wednesday

I must agree with you. I Had not seen for a long time the European markets to fall so hard and with great volume, despite the recovery in the evening. The U.S. markets did not fall as the Europeans, only ES.

cheech · Post by **cheech** » Tue Jul 12, 2011 3:25 pm

rhight wrote:Price popped on typical Fed Minutes silliness, then sold by bots on first touch of declining SPX 60min 20MA with pronounced negative divergence on TICK. We'll see, but I suspect that any move back above the 60 min. 20 MA will be viewed as an opportunity to sell. TICK is schizophrenic today. Bespoke had this interesting observation on Seeking Alpha
http://seekingalpha.com/article/279088-a-manic-market

Bespoke is so bullish biased. They seem to be generally right about the long term but useless for swing trading.

soku · Post by **soku** » Tue Jul 12, 2011 3:27 pm

short the market. ireland downgrade

99er · Post by **99er** » Tue Jul 12, 2011 3:29 pm

RUT
798.
http://99ercharts.blogspot.com/2011/07/rut_12.html

Me XMan · Post by **Me XMan** » Tue Jul 12, 2011 3:49 pm

Oh sshhhhiiiiiiittttttttttttt!

soku wrote:short the market. ireland downgrade

janez · Post by **janez** » Tue Jul 12, 2011 3:49 pm

I gave up on the long side.

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07/12/2011 Intraday Watering

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