11/17/2011 Intraday Watering

[xfradnex]

Looking on Cobra's chart, there looks to be alot of total volume today. Is this exhaustion?

[cougar]

Alka-Seltzer to the rescue!

[SigmaEcho]

see...whatever triangle...we break to the upside.

ES down only 18 pnts. over an hour to go to get green.

[Cobra]

Looking on Cobra's chart, there looks to be alot of total volume today. Is this exhaustion?

the very first few down days with big volume is not exhaustion. it's just the beginning. after a few more days down if you see volume surge, then it's exhaustion.

[knock]

not a wave guy, just for fun.

can you advise what pattern this is? I try to learn how you come up with the pink dot.

I will put it as 123 pattern and put target to a recent support, which now turns resistance.

appreciated!

[MrMiyagi]

What upside level needs to be passed to gain a new support?

[99er]

Honey!
ES http://99ercharts.blogspot.com/2011/11/es_809.html

You rock!

[KENA]

See you guys tmorrow heading intown for food and something different etc..My long swing trades are a little red but I had a little cushin in them so holding to see what tomorrow brings. I see right now we are getting a little bounce. Lets see.

[chodaboy19]

VIX is still above 35

[SB73]

Small caps lagging which is very interesting since I would have assume major risk off. Still riding out shorts, but took 1/3 off.

[99er]

ES
Pausing at the 75% line of the down channel. Go bears!

[L_T]

Cobra I re-read your post last night and was curious about this:

Even it breaks down tomorrow, before the Nov 1st lows being taken, officially the trend is still up, so bears still have a long way to go.

If we close here is the short term trend now officially down? Would you say the bears today completed what you called "long way to go" in one day's move?

[BullBear52x]

I am closing my shop early today holding 1/2 shorts over night, expect a bounce but not to go over 123.5, if so.......well a reversal idea will not be a bad guess.

Thanks Cobra and everyone here for great insights, GLTA

[Cobra]

little trend line here, I won't count on it.

[jarbo456]

IWM, small caps, seem to be bouncing the hardest. IWM 72 looks to be pretty important for the bulls to defend.

multiple fights over this level.

backing the chart out, it lines up to a perfect 50% fib line from a LONG time ago.

[MrMiyagi]

So it needs to break 122$ to be somewhat bullish.

[Cobra]

Cobra I re-read your post last night and was curious about this:

Even it breaks down tomorrow, before the Nov 1st lows being taken, officially the trend is still up, so bears still have a long way to go.

If we close here is the short term trend now officially down? Would you say the bears today completed what you called "long way to go" in one day's move?

still long way to go. officially the trend is still up if close right here.

trading is different however, because you trade EXPECTATION, so you cannot wait until I say, oh, it's officially down. You have to balance the risks.

[BullBear52x]

Last chart, intraday is bullish until yellow line failed for support.

[Me XMan]

CLosing low will setup for bounce tomorrow?

I am closing my shop early today holding 1/2 shorts over night, expect a bounce but not to go over 123.5, if so.......well a reversal idea will not be a bad guess.

Thanks Cobra and everyone here for great insights, GLTA

[stucap]

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