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02/28/2011 Intraday Watering

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BullBear52x
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Re: 02/28/2011 Intraday Watering

Post by BullBear52x »

IWM intraday bear flag break down!!! heads up longs.
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

Anyway, the bigger picture, I'll assume today's high at least will be tested.
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Jennyahwu
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Re: 02/28/2011 Intraday Watering

Post by Jennyahwu »

Cobra, do u think today is reverse day ? should we short ? thanks
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

Jennyahwu wrote:Cobra, do u think today is reverse day ? should we short ? thanks
No.

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BullBear52x
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Re: 02/28/2011 Intraday Watering

Post by BullBear52x »

Qs and Transportations is breaking down also !!!!
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.
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simpletrader
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Re: 02/28/2011 Intraday Watering

Post by simpletrader »

Cobra wrote:Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.
from large time frame, it looks like a bull flag., intraday, a small down channel.
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

simpletrader wrote:
Cobra wrote:Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.
from large time frame, it looks like a bull flag., intraday, a small down channel.
Normally, the rebound should be 2 legged, so I still assume today's high at least will be retested either later today or tomorrow, only after a 2 failed test, the market would then try the opposite direction.

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Simsonic
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Re: 02/28/2011 Intraday Watering

Post by Simsonic »

Cobra wrote:
simpletrader wrote:
Cobra wrote:Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.
from large time frame, it looks like a bull flag., intraday, a small down channel.
Normally, the rebound should be 2 legged, so I still assume today's high at least will be retested either later today or tomorrow, only after a 2 failed test, the market would then try the opposite direction.
I agree Cobra...it looks like a retest of these this afternoon or tomorrow, then we might see a bigger move either way.
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

Today's was a typical 30 min OR breakout trade. The winning rate is above 80%. A failed OR breakout trade like today usually the market would come back to test today's high, I just check all the recent failed OR breakout trade...

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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

I'll assume the rebound here would fail.
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BullBear52x
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Re: 02/28/2011 Intraday Watering

Post by BullBear52x »

Cobra wrote:I'll assume the rebound here would fail.


$TICKQ is positive now, let see if Nasdaq and the Tech can pull the weight to the up side from here.
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Dow Trader
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Re: 02/28/2011 Intraday Watering

Post by Dow Trader »

from Reuters:

US MILITARY SAYS REPOSITIONING FORCES IN AREA AROUND LIBYA TO BE ABLE TO PROVIDE FLEXIBILITY, OPTIONS

my comment: do you think this headline will push Oil and Gold lower ? if your answer is NO, then do you think Dow can hold any rally while Oil above $100 ?
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BullBear52x
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Re: 02/28/2011 Intraday Watering

Post by BullBear52x »

SPY is not so healthy here, 1m chart with ThinkAI
I think I am over posted here today. break time!
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

Back to consolidation area like usual. This kind of pattern is very common.
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nelsonbelchior
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Re: 02/28/2011 Intraday Watering

Post by nelsonbelchior »

Cobra wrote:
simpletrader wrote:
Cobra wrote:Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.
from large time frame, it looks like a bull flag., intraday, a small down channel.
Normally, the rebound should be 2 legged, so I still assume today's high at least will be retested either later today or tomorrow, only after a 2 failed test, the market would then try the opposite direction.
Cobra but it´s allways 2 times?
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

Lunch time. A wild guess, usually a reversal should like this:
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Cobra
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Re: 02/28/2011 Intraday Watering

Post by Cobra »

nelsonbelchior wrote:Cobra but it´s allways 2 times?
Mostly.

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Jennyahwu
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Re: 02/28/2011 Intraday Watering

Post by Jennyahwu »

Cobra, does the market reverse? you said the market should test new high todaY/

but it looks drops without stopping. short? tHANKS
greenback
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Re: 02/28/2011 Intraday Watering

Post by greenback »

The cut in Social Security payroll taxes helped boost incomes last month, but personal spending fell anyway.
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