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02/24/2012 Intraday Watering

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Cobra
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Re: 02/24/2012 Intraday Watering

Post by Cobra »

dr659 wrote:
Cobra wrote:still looks like a bear flag, a little too big though. 20 min to go, I'm neutral now. recently the market up sharply at Friday's close and also in AH in anticipation of a good news in the weekend.
A flag should be no bigger then? :?:
Flag is bigger than the pole? what kind of flag is that. :lol:

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Petsamo
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Re: 02/24/2012 Intraday Watering

Post by Petsamo »

It's looking like a gap up Monday, fellas
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btran874
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Re: 02/24/2012 Intraday Watering

Post by btran874 »

God damn it, there's a chance they will not let this so obvious diagonal down 5th wave pattern to be completed by 4PM. Damn you MM!
btran874
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Re: 02/24/2012 Intraday Watering

Post by btran874 »

Petsamo wrote:It's looking like a gap up Monday, fellas

I hope it's a 15 points gap up. I can cash out LONG and go full Short at the same minute.
giggleeyes
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Re: 02/24/2012 Intraday Watering

Post by giggleeyes »

Hi Cobra,
Is next Monday bearish or bullish biased?

Regards,
btran874
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Re: 02/24/2012 Intraday Watering

Post by btran874 »

Come on 4 more minutes, please make my wish come true SPX, you silly girl.
ActiveTrader
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Re: 02/24/2012 Intraday Watering

Post by ActiveTrader »

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Buckethead
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Re: 02/24/2012 Intraday Watering

Post by Buckethead »

Media will be talking up high energy prices next week. Primed for a pullback. However, I do not see this as change of intermediary trend.
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Cobra
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Re: 02/24/2012 Intraday Watering

Post by Cobra »

well, guess that's it for today, no conclusion, the market stopped at key point, so guess we'll have to wait for the next Monday. Thank you guys, I'll see you the next Monday. Don't forget our poll: viewtopic.php?f=9&t=467
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TWT
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Re: 02/24/2012 Intraday Watering

Post by TWT »

Next week should be a good one for the bears.

Have a great weekend everyone
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KENA
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Re: 02/24/2012 Intraday Watering

Post by KENA »

COBRA and everyone have a good week end.
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Cobra
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Re: 02/24/2012 Intraday Watering

Post by Cobra »

giggleeyes wrote:Hi Cobra,
Is next Monday bearish or bullish biased?

Regards,
seasonality is bearish recently till the end of Feb.

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Buckethead
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Re: 02/24/2012 Intraday Watering

Post by Buckethead »

Buckethead wrote:Media will be talking up high energy prices next week. Primed for a pullback. However, I do not see this as change of intermediary trend.
What stands out most today is divergence between the OSX and crude prices. This is a very effective indicator in predicting short term weakness in indices.
btran874
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Re: 02/24/2012 Intraday Watering

Post by btran874 »

100% cash is the best. :)
ActiveTrader
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Re: 02/24/2012 Intraday Watering

Post by ActiveTrader »

ActiveTrader wrote:.
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Haha, they closed it above the open, so no black candle. It is still a doji candle.
taggard
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Re: 02/24/2012 Intraday Watering

Post by taggard »

[quote="TWT"]Next week should be a good one for the bears.

it's going to be interesting on qqq as we have had 5 events of 8 weeks or more up in a row (using stockcharts data) since the start of the cubes in 1999. one of the 8 weeks up in a row was this week. of the other 4 events one (1999) was 11 weeks up. this is not a large sample--but it is telling you something. we eventually fell to the 10 week ema over 1-3 weeks.

using the prior range on qqq weekly of (ball park) 50-60 we have a shot at (ballpark) 70 (ish) using typical measured moves before the primary up move is dust--we are at 63.95. so given what we have now am just looking for a hit of close to the daily 20 ema or weekly 10 ema fairly soon. in all cases the first down week was as high--or slightly higher than the last of the 8 (or 11) up weeks.

in the last 3 events (all the 8 in a row up) we had 2 weeks down--and then 1-2 weeks up and then the larger idea whatever it was became clear.

bottom line is a down week is almost certain fairly soon in qqq (one would think next week) and since the cubes are more gung ho than spy that could mean something. however rule of thumb would be after some messing around we wind up at 70ish for more major top.

so let see what happens have a good weekend all
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Re: 02/24/2012 Intraday Watering

Post by TradingJackal »

The last one and half hours look like an LD followed by a triangle => ABC corrective move with A and B done. We should see some gains early on Monday as we finish the 'C' which will then get faded (lower than today's low).
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SWalsh
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Re: 02/24/2012 Intraday Watering

Post by SWalsh »

Cobra wrote:anyone reads this as H&S top?
Sure could be.


Toss this in:
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bbc
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Re: 02/24/2012 Intraday Watering

Post by bbc »

nothing evil yet on SPY aft-mkt.

but is this neutral?
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