02/22/2012 Intraday Watering

[Cobra]

Flat open, so any gap will be filled.

Key time for the Global ES, because it's testing the previous resistance now the support the 2nd time. Should it success here (like always) then the low was in, otherwise we'll have a 1-2-3 trend change here. Even it is 1-2-3 trend change but since the pattern is too small, so hardly be any threat to bulls, so overall, not bad for bulls yet.

[Al_Dente]

Good morning

“Apple’s ‘Project Dolphin’ Green Energy Facility In North Carolina Among Nation’s Biggest”
http://techcrunch.com/2012/02/20/apples ... s-biggest/

[DRL]

Significant divergence on SPY and transports.
Suggests SPY may follow.....................

Credit source: http://www.etf-corner.com/markets/2012/ ... ruth-.html

[jimme]

I bought some TZA 19 calls at the close. I am looking to buy more but TZA 18 later today around 18.50. Also Al, the lipstick is on the pig and not your making your chart price bars red. Also, picking a place to short this market can cause quick financial damage to you. My trade here is frontrunning the market and Cobra aways has good solid entry points for trades. Good luck to All. jimme

[Cobra]

the open.

[TWT]

SPX : Potential H&S with target at 1348.55

(thewavetrading.com)

[Al_Dente]

note oil volatility (green circle)
http://stockcharts.com/h-sc/ui?s=UCO&p= ... listNum=15

[TWT]

ES Globex:

My guess is that the DZZ is not over yet but a move above 1360 would open the door to a bullish move towards last lower high in the area of 1363 based upon a Double Bottom

sorrry in the chart instead of alt(W) it would be alt(Y)

(thewavetrading.com)

[jarbo456]

trying to figure out what this market is waiting for...existing home sales at 10amEST?

[Cobra]

consolidation here generally is not good for bulls. bulls need leave this area ASAP.

[TraderGirl]

trying to figure out what this market is waiting for...existing home sales at 10amEST?

I believe its waiting for employment numbers tomorrow...
http://biz.yahoo.com/c/e.html

[jarbo456]

trying to figure out what this market is waiting for...existing home sales at 10amEST?

I believe its waiting for employment numbers tomorrow...
http://biz.yahoo.com/c/e.html

looking at this morning's price action. and the numbers from home sales hit...

the best part of the report was all of the "downward revisions" it made on previous reports...

" December's sales were downwardly revised to a 4.38 million rate from a previously reported 4.61 million; December sales were downwardly revised as part of a seasonal adjustment that impacted monthly, but not annual, sales. That's not to be confused with the 14% downward revision the trade group recently conducted on sales data from 2007 onwards."

can we say...data pumping?

[jpapa]

Hi eveybody,

is this fall a buying opportunity?

[Al_Dente]

1 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[TraderGirl]

trying to figure out what this market is waiting for...existing home sales at 10amEST?

I believe its waiting for employment numbers tomorrow...
http://biz.yahoo.com/c/e.html

looking at this morning's price action. and the numbers from home sales hit...

the best part of the report was all of the "downward revisions" it made on previous reports...

" December's sales were downwardly revised to a 4.38 million rate from a previously reported 4.61 million; December sales were downwardly revised as part of a seasonal adjustment that impacted monthly, but not annual, sales. That's not to be confused with the 14% downward revision the trade group recently conducted on sales data from 2007 onwards."

can we say...data pumping?

I think they are expecting 300k for employment numbers tomorrow, but I have seen reports that it will only be 50k...???

[Cobra]

still bulls are defending, better hold here. let's wait.

[SWalsh]

Now this, I believe, shows nefarious forces at work; the kind that put the Dow up 70 points and back down one day in 1 second. RIP THESE PARASITES OUT. Only then can good traders make a very good living as mini Black Swans don't roam the playing field daily:

[jarbo456]

trying to figure out what this market is waiting for...existing home sales at 10amEST?

I think they are expecting 300k for employment numbers tomorrow, but I have seen reports that it will only be 50k...???

you mean the weekly claims number? looks like 348k is expected, 355k was previous...and really anything under 400k is viewed positively...moving average has been falling on this number, but 400k has been the important level.

[TradingJackal]

ES looks to be putting in a triangle since Sunday open. 1355.75 has been defended twice now. Looks like ABC is done. We should peek into the positive today for a D then a brief spike down into negative for a E and then we should be off for the 5th wave to 1370 and beyond.

[SWalsh]

can we say...data pumping?

I think they are expecting 300k for employment numbers tomorrow, but I have seen reports that it will only be 50k...???

TrimTabs had some interesting words a few weeks ago on these government lies:

http://goldsilver.com/video/biderman-s- ... the-blind/