03/22/2011 Intraday Watering

[zombiebraingoo]

A closer look at the 1295 area:

1295.png

yes - a second test is coming up here quickly

[Cobra]

Well, too bad, the 3rd time testing the day low would be bad for bulls as this could be a Descending Triangle, the more times the low gets tested, the less chances it's going to hold.

[Simsonic]

Hey Cobra, If you had April Calls for AAPL at 340 and 350 would you roll them over for May or June?

[Cobra]

Hey Cobra, If you had April Calls for AAPL at 340 and 350 would you roll them over for May or June?

AAPL chart looks bearish to me.

[BullBear52x]

I like what I see in today's action, but from looking at volatility indexes I think Bulls got an uper hand next dip will be bought, 125 spy will be bought for sure unless VIX, VXD, VXN gain lateday huge higher than yester's HOD, I don't think that's going to happened unless end of day sell off is severed. Until then we will have to wait and see.

[zombiebraingoo]

1294.50

the 30 min indicates that the bb could break to 1290 and then rally from there - or we could rally from here - needs to do one or the other or the bears will eat well tonight.

5min shows 1291 as bounce point but I think it rallys up any moment now

or NOT!@

[Travelfrog]

Sitting on the fence at the moment waiting for direction. SPX has been stuck in this tight descending channel now for 2 days and I expect the 1290 area to be tested as support where 200ma sits for 5min and 15min. Watching then for break up or down.

[uempel]

Locked in:

[KENA]

Ok you guys.. Umple wrote have to hold 1295. I agree.If we break 1290 then we might have a bear party..Alllll honey

[zombiebraingoo]

Ok you guys.. Umple wrote have to hold 1295. I agree.If we break 1290 then we might have a bear party..Alllll honey

thats a consensus!

but I'm set up for bull pastures! honey makes me sticky

[KENA]

Ok you guys.. Umple wrote have to hold 1295. I agree.If we break 1290 then we might have a bear party..Alllll honey

thats a consensus!

Yes.. But forgive me I just got back from a martinie lunch.

[abracadabra]

bear's (put) strength is lack.

[Cobra]

Still looks like a Bull Flag.

[greenback]

Cobra, do you think the SPY daily chart is bullish?

[Cobra]

Cobra, do you think the SPY daily chart is bullish?

Not bullish.

[lqiantobe]

does it look like consoidate for tomorrow's soar?

[KENA]

If you look at the SPY one mim.Chart....We have been down tending all Day.

[Travelfrog]

SPX, best guess is, we will close between 1295 and 1289 so no direction until gap up or down tomorrow.

[zombiebraingoo]

I hate this market - huge gaps overnight or at open and then no actionable info until the last hour of trading.

looks like upside break last hour to me though - if I had to bet (and I already have!) I'd bet we close above 1301

nasty resistance on 5 min

[agnosia]

I hate this market - huge gaps overnight or at open and then no actionable info until the last hour of trading.

looks like upside break last hour to me though - if I had to bet (and I already have!) I'd bet we close above 1301

in the past three days all of the market gains have been made during the low volume off hours. the kicker is that if you would have traded the past three days during normal market hours you would be DOWN.

lesson: open a futures account and trade during the off hours. i did this last month and have been very profitable ever since. if you can't beat them join them