01/31/2012 Intraday Watering

[Cobra]

Gap up above yesterday's high, so there're some chances that the gap won't be filled.

From the Global ES, the rebound is very strong, so unlikely just one legged.

[Al_Dente]

good morn

For the bulls:
“Overbought market still has bullish potential”... http://www.marketwatch.com/story/overbo ... 2012-01-30

For the bears:
Case Schiller just now (was that bearish? [edit: yes])
Also: “More Pain Predicted For Singapore Stock Market” and, U.S. “Consumer spending flat but incomes up”
http://news.ino.com/headlines/?newsid=13020121446

[dcurban1]

Technical Analysis, January 30, 2012 – Dow Jones Industrial Average

http://www.atruecontrarian.com/2012/01/ ... 2-dow.html

European Bond Yields and AAII Sentiment Survey, January 30, 2012

http://www.atruecontrarian.com/2012/01/ ... iment.html

[Cobra]

the open.

[jimme]

Will be looking to add to my gold short position ( GLD @ 1689 ) with some GLL 16 calls. GLTA Jimme

[SB73]

Petsamo - I have not initiated the UNG position. Selling is more agressive than I would like to see. Will initiate on stength.

[Unique]

SPY gapped up above the previous support line (starting from 12/19) turned into res, must close in red or else bear week is an utter failure. >>Fill gap.

[SB73]

Be careful here bulls / bears...looks like a lot of chop chop. I actually think because of Chiosc etc this afternoon could show some weakness.

[BullTart]

Quick update... was watching the bounce off the drop from the recent high, it has overcome each fib level as you can see at each chart, but, on cue, might have ended right at the 61.8 level.

Leg 2 of the downwards correction is now on its way.

[Petsamo]

Eurozone Unemployment Ends 2011 With Record High 10.4 Percent

So, why are we so high?

[Tabby]

I don't know why $RUT not moving yet.

[Petsamo]

Petsamo - I have not initiated the UNG position. Selling is more agressive than I would like to see. Will initiate on stength.

I didn't go in yet, either

[Al_Dente]

I don't know why $RUT not moving yet.

weird i cant get a quote on RUT on schwab
it is asleep???

[stevej]

up 2.3 on futures

[EvilTrader]

Economic data not helping bulls this time :

Chicago PMI

Business Barometer Index - Level

Prior
62.5

Consensus
63.0

Consensus Range
59.0 to 65.5

Actual
60.2

Dont know if trend changed, but rally seems stalled, not good for bulls at all.

For me we are experienced typical high volatility at intermediate TOPs.

[Petsamo]

From a technical viewpoint, there's a gap near the previous bottom.

[Al_Dente]

VIX ~19
Here’s how the mkt looked the previous times that VIX was below 20% volatility (pink boxes)
http://stockcharts.com/h-sc/ui?s=$VIX&p ... listNum=15

Last night on Fast Money they said that VIX 19 is “below its 20 year average.” I didn’t catch it all.
Does anyone have the number for the 20-year average on VIX?

[Tabby]

I don't know why $RUT not moving yet.

weird i cant get a quote on RUT on schwab
it is asleep???

It is moving now but for 17 min TZA flying. I guess brokers did not want anyone sell bulls efts yet.

[SB73]

From a technical viewpoint, there's a gap near the previous bottom.

Because this has been such a dog, would like to see a higher low with MACD and RSI confirming.

[BullTart]

Still maintaining VIX short term bottom last Thursday based on PosD on the daily RSI here....