07/25/2011 Intraday Watering

lilitulip · Post by **lilitulip** » Mon Jul 25, 2011 3:31 pm

Hi Cobra, IWM couldn't fill the gap between 7/6 and 7/7, you think it is weak? thanks

Post by **Cobra** » Mon Jul 25, 2011 3:37 pm

I see small double bottom, so hopefully the rebound could last until the market close.

Post by **Cobra** » Mon Jul 25, 2011 3:38 pm

lilitulip wrote:Hi Cobra, IWM couldn't fill the gap between 7/6 and 7/7, you think it is weak? thanks

yes, it's weak. if you remember my 7 days rule, today's market is not good for bulls.

Post by **Cobra** » Mon Jul 25, 2011 3:40 pm

text book target if indeed breakout.

Post by **Cobra** » Mon Jul 25, 2011 3:47 pm

failed double bottom is very bad, now it could be measured move.

Post by **Cobra** » Mon Jul 25, 2011 3:49 pm

here's what I mean: Measured Move, if confirmed breakdown.

stingrey · Post by **stingrey** » Mon Jul 25, 2011 3:57 pm

Could be a bear trap...a gap open will leave an island reversal pattern. Will be an interesting open tomorrow...

Post by **Cobra** » Mon Jul 25, 2011 3:57 pm

no breakdown confirmation, guess we'll have to wait until tomorrow. thank you guys, I'll see you tomorrow. Today, by the way, is the driest day ever for the daily watering thread.

Nomorework · Post by **Nomorework** » Mon Jul 25, 2011 4:03 pm

Cobra wrote:no breakdown confirmation, guess we'll have to wait until tomorrow. thank you guys, I'll see you tomorrow. Today, by the way, is the driest day ever for the daily watering thread.

Lots of looy-loos tho! Thanks as always Cobra and the gang

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07/25/2011 Intraday Watering

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