09/02/2011 Intraday Watering

[pady]

Weekly chart is a gravestone doji ( as of now ) at the top.

[EvilTrader]

So the 08/30 10:05 AM phantom bar worked, after all.

[WhyNot]

Phantom bar @ 120,87. Could anyone confirm?

[lilitulip]

Hi Cobra,

is the chart looks like island reversal? from 8/26. (not sure this is right word to describe the pattern)

[PLUNGE]

The Government is going to SUE the Banks.Can you think what this will do to the Banks that are already in poor shape.Boy we sure need a change.

The government bailed out the banks, and now they're going to sue them. So, after they sue them, will the government bail them out again? Talk about not making any sense........

The lawsuits come as a result of past claims from the FHFA. Last year, the FHFA issued 64 subpoenas to various entities seeking documents related to mortgage-backed securities in which the Fannie and Freddie had invested.
The agency said at the time the documents would enable it to determine whether the banks and other financial entities were liable for losses Fannie and Freddie suffered from their investments. FHFA said it expected to recoup money that would be used to offset payments made by the U.S. Treasury to Fannie and Freddie.

[auger]

Phantom bar @ 120,87. Could anyone confirm?

*Sigh* yes, it's there. Pretty soon, we're going to see "Trade the Phantom" subscription sites. Better work it into our TA.

[soku]

update of the fancy chart.
it did suggest a reversal.

[KENA]

So the 08/30 10:05 AM phantom bar worked, after all.

You guys and your phantom bars may make me a beliver yet. Ha

[Cobra]

Hi Cobra,

is the chart looks like island reversal? from 8/26. (not sure this is right word to describe the pattern)

it's island reversal and the target has already reached. basically you can pretty much forget about island reversal as when it really happens, the target usually already reached on the gap down/up.

[jarbo456]

apparently the bottom buyers woke up a couple hours late. selling this particular 30 minute rip is getting painful.

[Cobra]

no breakdown, now back test the morning high, another key time, let's wait. breakout would mean good for bulls as the market finally found the direction.

[auger]

apparently the bottom buyers woke up a couple hours late. selling this particular 30 minute rip is getting painful.

Break of the morning high could confirm an intraday double bottom, measured move would target 120.08

[vats]

Good morning!
After closing a w2 (magenta) inside the Bermuda Triangle, SPY goes down on the w3 of W5, with a target of 115.…IMHO.

Hi Cougar, Looks like, the target of 115 will happen next week according to the chart. Am I correct?
thanks,

[jarbo456]

apparently the bottom buyers woke up a couple hours late. selling this particular 30 minute rip is getting painful.

Break of the morning high could confirm an intraday double bottom, measured move would target 120.08

i'm looking at a break above 119.08 for the morning intraday high right?

my 3 minute chart is showing sell signals, though the 5 minute still has some room to move up.

[rpccharts]

every time the swissy hit this 30 yr trndline GOLD has corrected over past 30 years -

[cougar]

update of the fancy chart.
it did suggest a reversal.

Very nice chart, soku!

[cougar]

Good morning!
After closing a w2 (magenta) inside the Bermuda Triangle, SPY goes down on the w3 of W5, with a target of 115.…IMHO.

Hi Cougar, Looks like, the target of 115 will happen next week according to the chart. Am I correct?
thanks,

Yes, I think so

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/09/gold_02.html
Silver http://99ercharts.blogspot.com/2011/09/silver_02.html

[99er]

Crude
Update.
http://99ercharts.blogspot.com/2011/09/crude_02.html

[auger]

i'm looking at a break above 119.08 for the morning intraday high right?

Yes. It could also be a tweezers bottom, on the hourly, which is theoretically bullish.