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08/10/2011 Intraday Watering

08/10/2011 Intraday Watering

Postby Cobra » Wed Aug 10, 2011 9:01 am

Small gap down (well, relative to those days, it's small) but within yesterday's range so chances are the gap will be filled and usually the day after a Major Accumulation Day tends to be a small range day and usually there's a day or two follow through yesterday's huge rally, so I'll assume perhaps another green day today? Or at least the overnight highs will be attempted?
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Re: 08/10/2011 Intraday Watering

Postby AK84 » Wed Aug 10, 2011 9:05 am

Morning Cobra.

Futures down 18 handles at the moment. That is quite a large gap down...still expect that to be filled todayyy?? I thought you were bearish biased today so why not yesterdays low tested first before high to turn into a green day.

Thanks so much
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Re: 08/10/2011 Intraday Watering

Postby alvian33 » Wed Aug 10, 2011 9:10 am

last few days market is like a casino, it's just unbelievable how it's jumping back and forth without no real reason/value change within that few hours, crazy market
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Re: 08/10/2011 Intraday Watering

Postby ddd » Wed Aug 10, 2011 9:12 am

Day's range (H-L) is said to be often around 1x the VIX value.
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Re: 08/10/2011 Intraday Watering

Postby nonabear » Wed Aug 10, 2011 9:14 am

Is there news in Europe...their markets are moving down hard...driving our futures down.
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Re: 08/10/2011 Intraday Watering

Postby uempel » Wed Aug 10, 2011 9:19 am

Expecting a lower open and this will be my map:
SPX11.png
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Re: 08/10/2011 Intraday Watering

Postby Cobra » Wed Aug 10, 2011 9:19 am

AK84 wrote:Morning Cobra.

Futures down 18 handles at the moment. That is quite a large gap down...still expect that to be filled todayyy?? I thought you were bearish biased today so why not yesterdays low tested first before high to turn into a green day.

Thanks so much


Possible but for now the chart looks a little easier to test the high first.

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Re: 08/10/2011 Intraday Watering

Postby cougar » Wed Aug 10, 2011 9:22 am

IWM: deep technical correction coming.
Yesterday, on its latest move up, IWM broke an essential rule of Murrey Math: “NO more than 5 MM levels in ONE INTRADAY MOVE!!” It did 7!!!
Therefore, it has to correct.
One can try to find the bottom of this correction - in agreement with Cobra’s scenario.
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Re: 08/10/2011 Intraday Watering

Postby edwindes » Wed Aug 10, 2011 9:28 am

nonabear wrote:Is there news in Europe...their markets are moving down hard...driving our futures down.

french downgrade rumor
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Re: 08/10/2011 Intraday Watering

Postby Cobra » Wed Aug 10, 2011 9:30 am

the open.
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Re: 08/10/2011 Intraday Watering

Postby alvian33 » Wed Aug 10, 2011 9:35 am

this market is NUTS, stay away from it....
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Re: 08/10/2011 Intraday Watering

Postby quientuves » Wed Aug 10, 2011 9:40 am

Today we'll have news from Treasury or i'm wrong?
Last edited by quientuves on Wed Aug 10, 2011 9:55 am, edited 2 times in total.
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Re: 08/10/2011 Intraday Watering

Postby Tabby » Wed Aug 10, 2011 9:40 am

alvian33 wrote:this market is NUTS, stay away from it....

No, we can't . We are addicted to this market. Coming back for more everyday.
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Re: 08/10/2011 Intraday Watering

Postby uempel » Wed Aug 10, 2011 9:45 am

Update:
SPX12.png
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Re: 08/10/2011 Intraday Watering

Postby AK84 » Wed Aug 10, 2011 9:46 am

uempel wrote:Update:
SPX12.png


where do u see us going today ? down ?
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Re: 08/10/2011 Intraday Watering

Postby silicon_beaver » Wed Aug 10, 2011 9:52 am

GM!
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Re: 08/10/2011 Intraday Watering

Postby aimei » Wed Aug 10, 2011 9:55 am

Morning Cobra, plus ppl I don't know
wave hands
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Re: 08/10/2011 Intraday Watering

Postby soku » Wed Aug 10, 2011 10:00 am

i see some support around 1128.25-1129.5. overall i think it is oversold, but i am not sure whether the next movement is impulsive or corrective.
the market is beyond my understanding at this moment. i will just sit on hand and watering
The goal is not uniformity. It is understanding and idea exchange.
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Re: 08/10/2011 Intraday Watering

Postby Cobra » Wed Aug 10, 2011 10:00 am

not much clue about the market, hopefully this hourly bar is an exhaustion bar of some kind...
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Re: 08/10/2011 Intraday Watering

Postby Cobra » Wed Aug 10, 2011 10:02 am

aimei wrote:Morning Cobra, plus ppl I don't know
wave hands


hmm, maybe in the future, guys in this form should wave different things to express self, such as:

wave hoofs or wave claws.

:mrgreen:

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