09/06/2011 Intraday Watering

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/09/gold_06.html
Silver http://99ercharts.blogspot.com/2011/09/silver_06.html

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/09/copper_06.html
Crude http://99ercharts.blogspot.com/2011/09/crude_06.html

[uempel]

Don't know how to trade this. Today ain't my day, I'm off, bye guys.

The attachment SPX5.png is no longer available

I agree. I think we're on a see-saw between 114.50 and 116. A break up is more likely to carry further than a break down but up will just be sold off eventually. This market could be pretty rangle bound between 1130 and 1230 for all month waiting on economic indicators to sell or buy.

A last glance at this 60 min chart, doesn't look bullish, but it's not on a sell signal:

[balance]

Euro sovereign CDS and bank CDS are at all time high...

http://www.markit.com/en/

lower right corner, look for
Markit iTraxx SovX

and

Markit iTraxx Europe

[agnosia]

man the powers that be are trying hard to keep this spx bear flag from breaking down... time for them to juice the XLF . watch gap fill attempt at 12.5, that could spike us...

fear is near max... vix up, 10 year yields trading at 50 yr lows, gold parabolic, ...

[Al_Dente]

gold drop is good for equities lately.

stockcharts has a new indicator: “Correlation Coefficient” which gives a snap view of pos/neg correlation.

Example: gold v dollar

http://stockcharts.com/h-sc/ui?s=$USD&p ... listNum=15

Above zero is positive correlation (generally above + 0.50 is strong pos cor)
Below zero is neg (generally below - 0.50 is strong neg)

[Cobra]

corba~ do you think today's low will be revisit late afternoon?

no idea yet.

[lqiantobe]

corba~ do you think today's low will be revisit late afternoon?

no idea yet.

which mean bull is pretty much strong today?

[Cobra]

Cobra,

Any hope for a rebounce from chart reading ?

isn't market rebounding now? I don't see even a bear flag on 60 min chart yet so I think the sell off is not over yet, not mean today will resume done, I mean in the following few days.

[Cobra]

corba~ do you think today's low will be revisit late afternoon?

no idea yet.

which mean bull is pretty much strong today?

No. I won't hope today would fill the gap and close in green.

[stockcycle]

Watching the 1'chart I feel Bear is not so strong at day 3 of sell off. If SPX is about to Close Higher than Open, then I would like to place my bet on Bull (at least for 3 coming days). It means I plan to wait till 30mins before the market's close to decide going long or not. May be we can expect some thing positive from President and FED.

[lqiantobe]

corba, you didn't update often as usual, I feel exciated once I saw your updates.... when is rebounced, when is pullback,blabla

[frankthetank]

Whats spy rebounding on. Hasn't been able to touch the high of the day yet probably good shorting target 116

[99er]

Paging Tabby...
SPX http://99ercharts.blogspot.com/2011/09/spx_2154.html

[Tabby]

Paging Tabby...
SPX http://99ercharts.blogspot.com/2011/09/spx_2154.html

Tabby has tree problem today. Cleaning up falling tree from the storm in backyard. Your chart looks like my falling tree.Thanks for the chart.
10-4

[cougar]

Bucking the trend: VRUS at all-time high, after split and good clinical trial data.
===
I am long VRUS

[agnosia]

XLF juicing has begun.. /es 1153 critical pivot for 1172.5 gap fill. i plan on shorting any spike since we will sell off into the close before europe tonight... off to lunch.

[Cobra]

corba, you didn't update often as usual, I feel exciated once I saw your updates.... when is rebounced, when is pullback,blabla

Nothing to say, the rebound should fail somewhere, just it keeps going up, so I'd shut up here and watch.

[Cobra]

wedge and OR high as resistance, let's see how these play out. I still don't believe we'll up and up till the close, but anything can happen, so let's wait.

[cougar]

SPXU at a critical level.
If it drops and gets confirmed (under 19.53) the market should make a healthy leg UP…