03/28/2011 Intraday Watering

[Cobra]

Again, this kind of consolidation is bullish. The market doesn't want to drop.

[uempel]

Some of my long positions got bounced by the 10:45 dive. They were pretty young stops, so not much icing.

Now I'm having to study re-entry.

I'm torn between the possibility of correction this week and the overall bullish sentiment.

I'm having one of those days where it's hard to sit on your hands, but I'm doing my best.

I agree.

[BullBear52x]

if cannot DECISIVELY breakdown below the Friday's low, this is still pretty much bullish pattern.

If closes below Friday, can we say engulfing big time?

Yes, it'd be Bearish Engulfing, but don't forget, the Bearish Engulfing pattern is actually very very very very very very bullish.

What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.

[Tabby]

Cobra,
In past, you calculate or given probablity ( %) if $SPX and $VIX close in green, the next day would be in red. How do you calculate that based on your model? If you have time to answer this question.
Many thanks.

[stocksage]

My short term indications, suggest a sell from friday is confirmed. bears can relax now, but don't wake uncle Ben up please.

And may I ask, "What are those sell confirmations?"

[Fritz Baxter]

Virtually no volume today.
Wonder who blinks first, bulls or bears.
Out of my QID purchase from Friday.

[BullBear52x]

My short term indications, suggest a sell from friday is confirmed. bears can relax now, but don't wake uncle Ben up please.

And may I ask, "What are those sell confirmations?"

First sell at 123 formation after MA turned. second MA turned in the same direction that's my confirmation. see my chart that I posted. I go with 1m ma200.

[Cobra]

Cobra,
In past, you calculate or given probablity ( %) if $SPX and $VIX close in green, the next day would be in red. How do you calculate that based on your model? If you have time to answer this question.
Many thanks.

I manually count the next day. Nowadays they don't have any edges if not on the upside.

[Cobra]

What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.

Can you think of any reason that could bring down this market?

[BullBear52x]

What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.

Can you think of any reason that could bring down this market?

I know, sometimes I just think, so long the FED got cash why bother to short anything... but, we are wired not to sit on our hands.

[silverharp]

You can see the fib support from the Futures, the robots know where to stop

[BullBear52x]

Here is the turn I was talking about confirmation. the magic market said it all.

[TexasGordon]

What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.

Can you think of any reason that could bring down this market?

NFP is Friday, usually one large day down before to allow big people to buy before running up before the report

[Cobra]

I'm not sure but based on green and pink, the low might have already been in.

[BullBear52x]

1m hit resitance here, 1h chart RSI still sitting pretty, MACD is negative

[uempel]

Cycle due soon:

[KENA]

The dippers are driving the mkt up for now. We have bull traps ,bear traps, so lets have another trap called dipper traps. Lets see what happens.

[stocksage]

I'm pretty much in agreement with a top of the 3rd wave around May 24th on the spx. Only playing the long side til then. I was short from 1340 down to 1250 area.


http://www.safehaven.com/article/20290/ ... top-part-1

[Cobra]

I'm still watching these 2 charts, no big up for 2 days, then bears would have some chances finally. For now all bears can do are pray.

[BullBear52x]

Some poeple see market want to go higher, and some see VIX want to go higher. What do you see? Break time.