08/23/2011 Intraday Watering

[StrikePrice]

SPY update and a very risky call: after crossing “the blue line in the sand” SPY target = 116.40
This is the approx. crossing of the Fan line and the bottom of the 08/18 gap horizontal extension.

I fully and completely agree with this 116.40 target based on my analysis. And the chart is sweet as well.

I could see a small pullback we're doing now leading to a 2:30pm rip up to that area then a deeper pullback to test 1136 again on bad durable goods number tomorrow. Wild guess of course.

[KENA]

FYI..I just heard that the GDP will not be on Thur. as schulded.Has been moved to Fri 1 1/2 hr befor Big Ben speaks.Look like the # could be bad and Ben will temper the info.This action kind of smells..This is a rumor so take for what it is worth.

[99er]

ES
Update.
http://99ercharts.blogspot.com/2011/08/es_23.html

[BullBear52x]

ES
Update.
http://99ercharts.blogspot.com/2011/08/es_23.html

like that 1060 target.

[springheel_jack]

The rising wedge on the SPY 5min has broken down:

http://screencast.com/t/07xRdbxXwT

[cougar]

Cobra and StrikePrice are right: QQQ and SPY show early signs of a temporary nervous breakdown here.
Too high, too fast ….they got dizzy!

[99er]

AUDJPY
Update.
http://99ercharts.blogspot.com/2011/08/audjpy_23.html

Risk off.

[99er]

cougar

Must be too many double expressos.

[Anaconda]

ES
Update.
http://99ercharts.blogspot.com/2011/08/es_23.html

like that 1060 target.

Me, too. But I think we hit 1160 SPX, first.

[colderdown]

The chance for QE3 this week is:

ZERO.

[Cobra]

not sure if this is the rebound to test the day high. let's wait.

[quientuves]

FYI..I just heard that the GDP will not be on Thur. as schulded.Has been moved to Fri 1 1/2 hr befor Big Ben speaks.Look like the # could be bad and Ben will temper the info.This action kind of smells..This is a rumor so take for what it is worth.

Well, it could be exactly the opposite too: better GDP and no printing.

[uempel]

Update with a grid:

[Petsamo]

Whoa, let's have a race downhill!

[pablorynx]

earthquake on east coast. virginia

[BullBear52x]

Why bother with QE if it never work.

[uempel]

These Fib cycles are fun:

[Anaconda]

AMAZING...we just had what can only have been an earthquake here in Virginia. Minor, but the whole damn house shook. Haven't been in one, since living in Japan. Bizarre!!! Here in Virginia of all places for crying out loud!

[99er]

SPX
Update.
http://99ercharts.blogspot.com/2011/08/spx_3503.html

Going down.

[99er]

Earthquake in Virginia?

Someone is losing the Mandate of Heaven.