03/28/2011 Intraday Watering

[Cobra]

Small gap up open, within the Friday's range, so chances are good that the gap will be filled. The chart pattern is very bullish as this kind of consolidation on global ES usually means a breakout on the upside while the regular hour ES looks like a Bull Flag, so could be another up day today.

Institutional actions from stocktiming.

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[cletus]

A great bull market in the dollar has probably begun, as well as a great bear market in gold (target historical avg of $600-700).

The bullish pattern is obvious from the weekly chart, which shows that despite "end of the world" predictions about the dollar, severely declining sentiment, they can't even push it to new lows! Therefore, the dollar is about to explode. This will be bad for commodities like gold. In harmonic trading, this kind of bullish pattern might be known as an M pattern, bat or butterfly pattern.

[huiwangren]

good morning,Cobar

[EkOnkaar]

Cobra,

Just trying to understand what you mean by "buy in the dips". What time frame is this in? For example we can have dips in 1 min, 5 min, hour, daily etc..also, is this associated with an indicator, like stochastics or RSI ?

TIA. Ek

[99er]

Morning.
Got gold?
http://99ercharts.blogspot.com/2011/03/gold_28.html
Good luck.

[Cobra]

Cobra,

Just trying to understand what you mean by "buy in the dips". What time frame is this in? For example we can have dips in 1 min, 5 min, hour, daily etc..also, is this associated with an indicator, like stochastics or RSI ?

TIA. Ek

The short-term model will buy the next dips. It's mainly based on 60 min chart.

[Cobra]

A great bull market in the dollar has probably begun, as well as a great bear market in gold (target historical avg of $600-700).

The bullish pattern is obvious from the weekly chart, which shows that despite "end of the world" predictions about the dollar, severely declining sentiment, they can't even push it to new lows! Therefore, the dollar is about to explode. This will be bad for commodities like gold. In harmonic trading, this kind of bullish pattern might be known as an M pattern, bat or butterfly pattern.

isn't it a possible Double Top? Or the support being tried 3 times therefore are less likely to hold? Just a question, I have no opinion on USD.

[EkOnkaar]

Morning.
Got gold?
http://99ercharts.blogspot.com/2011/03/gold_28.html
Good luck.

Futures are pointing to a breakdown in GLD..right shoulder below the left shoulder..party over? if $USD stays or goes up, GLD party is over. All this is coming from end of QE2 talk..When printing presses stop (changing over to Yens now), Gold will be sluggish imo.

Ek

[Cobra]

The open. Something wrong with the stockcharts.

[Cobra]

Nothing to say. Global ES still in range.

[99er]

/ES
Update.
http://99ercharts.blogspot.com/2011/03/es_9233.html

[uempel]

I'm using weekly MA 9 as a stoploss:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=4

[Cobra]

Testing Friday's range high. Again, any test of the previous extremes, there's a chance for double top/bottom. So watch.

[Cobra]

So far the plan is still a higher high forming a negative divergence before a 2 legged pullback.

[99er]

EURUSD
Update.
http://99ercharts.blogspot.com/2011/03/eurusd_6283.html

[channel]

uempel, did you buy?

[BullBear52x]

With all the push Short term MA is still favor Evil side.

[uempel]

uempel, did you buy?

Yes, but I'm not yet convinced. I'm looking at 1224 before I buy more.

[BullBear52x]

If you want to buy. DOW is leading right now. no buy yet.

[uempel]

SPY at 132.30 as next resistance?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... &listNum=2