07/28/2011 Intraday Watering

[hiram]

Without “divine intervention”, IWM short term target should be = 79.3.

then what? ....lol


hiram

[cougar]

then...up for a while...

[Cobra]

nothing to say. RSP lower low already, normally SPY should follow.

[Dow Trader]

based on the Dow futures pattern since today's low, it means thatwe must go below today's low ( it is not the low ) and that is almost 100 points from here

that does not mean we should make it today, but it as I call it a must target

Closed the Dow short positions, that was easy +90 points

[cougar]

Right now: it looks like an UGLY CLOSE!
Breakdown....

[Cobra]

lower low now. another ugly close I guess. bad close everyday means some program is selling probably forced sell.

[99er]

SPX
About time.
http://99ercharts.blogspot.com/2011/07/spx_8158.html

[cougar]

Cobra: redemption?

[Tabby]

lower low now. another ugly close I guess. bad close everyday means some program is selling probably forced sell.

Cobra,
you don't have room in your chart. I can't see you.

[Cobra]

it's no fun anymore. ugly close. now bulls need the last minute rumor to shoot up high.

[cougar]

SPX breakdown

[Cobra]

RSP confirmed 1-2-3 Trend Change, no good. this one leads SPY.

[hiram]

nice chart very very nice chart.

hiram


just sold my apple puts for 33point on the day, thanks everyone see you guys tomorrow

[Cobra]

well, guess that's it for today. ugly close but still much better than I thought as at least bulls had half day which means that my indicator still works and this is not yet an out of control market, so chances are even better another rebound try tomorrow. Thank you guys, I'll see you tomorrow.

[AK84]

open low tomorrow (1295ish ) and then close high...bounce of lower BB on daily... thats my prediction . see u all tomorrow! Great day today!!

[nova]

just turn my computer on. WOW, COBRA!!!!!

[99er]

ES
The selling ain't over yet.
http://99ercharts.blogspot.com/2011/07/es_28.html
MACD about to cross.

Evening Update
1284 target hit.
http://99ercharts.blogspot.com/2011/07/es_6622.html
More still.

Next target: 1232.
http://99ercharts.blogspot.com/2011/07/es_3732.html

[silicon_beaver]

Flat open, normally any gap after a Major Distribution Day will get filled and the day normally a small range day. Global ES looks like a Bear Flag or Rectangle in the forming, so chances are it will continue down eventually.

It's a perfect statement for today.
Thanks Cobra. Your market sense is too good to be true. unbelievable.

[soku]

I would like to point your attention to a little followed indicator called the credit suisse fear barometer. a peak in this indicator as led every peak in the market by ~7 days since the beginning of the year. it has recently confirmed an intermediate top by falling dramatically as the 6m graph shows.

CSFB 6m.png

a 5y chart shows that we are at heightened levels similar to the one that preceded the bear market start in 2007.

CSFB 5y.png

i believe a break down of this indicator below the 20 level will sign, together with the economic indicators i mentioned at yesterday's close, and what i now believe is a confirmed dow theory sell signal from the beginning of july, the start of a bear market and a coming us recession.
the indicator is updated daily at bloomberg several hours after the close:http://www.bloomberg.com/apps/quote?ticker=CSFB:IND
a definition exist there as well.

good idea. i spent too much time understanding it and forgot to say thank you

[nikman]

Flat open, normally any gap after a Major Distribution Day will get filled and the day normally a small range day. Global ES looks like a Bear Flag or Rectangle in the forming, so chances are it will continue down eventually.

It's a perfect statement for today.
Thanks Cobra. Your market sense is too good to be true. unbelievable.

Absolutely amazing! Besides the morning comment, the rest of the day was also full of amazing calls - just like it always is. Totally unbelievable!

Thank you Cobra!