03/29/2011 Intraday Watering

Post by **Cobra** » Tue Mar 29, 2011 9:08 am

Small gap down or flat open, whatever gap, it should be filled. The global ES looks like a 2 legged up rebound (after the overnight being tested), so could see more rebound.

I think retailers are simply too bullish, not only bought lots of longs (as shown in RSI spread chart below) but also those longs are high beta leveraged (as shown in Beta Chase Index below), so be careful here.

chickencoop · Post by **chickencoop** » Tue Mar 29, 2011 9:14 am

morning

Forevergreen · Post by **Forevergreen** » Tue Mar 29, 2011 9:15 am

Morning...

cletus · Post by **cletus** » Tue Mar 29, 2011 9:18 am

I think given the rydex chart plus the ISEE value yesterday and bearish month-end, probably a "short and hold" strategy (short from 1318) is a fine strategy for the next few days, but Chi Osc is at an extreme low so booking profits on shorts on morning weakness might work and then short when the market moves to green.

99er · Post by **99er** » Tue Mar 29, 2011 9:30 am

Morning.
/ES update: http://99ercharts.blogspot.com/2011/03/es_29.html
Good luck.

Post by **Cobra** » Tue Mar 29, 2011 9:31 am

The open.

BullBear52x · Post by **BullBear52x** » Tue Mar 29, 2011 9:31 am

morning, well, 130.50 or all the way down to 130 ? GL

stocksage · Post by **stocksage** » Tue Mar 29, 2011 9:35 am

Shorts are fighting over crumbs while bulls enjoy big up moves. lol.

Post by **Cobra** » Tue Mar 29, 2011 9:36 am

Little Fib info.

Mr. BachNut · Post by **Mr. BachNut** » Tue Mar 29, 2011 9:38 am

Observation: Yesterday's SPY close was near the bottom of Friday's phantom bar. It is probably a coincidence and I don't trust phantom bars, but that is not the first time I have seen the market move to the end of a phantom bar on the next trading day.

Post by **Cobra** » Tue Mar 29, 2011 9:39 am

Double Top text book target.

Post by **Cobra** » Tue Mar 29, 2011 9:41 am

Overnight low target.

uempel · Post by **uempel** » Tue Mar 29, 2011 9:42 am

Check support 1305 and 1300:

BullBear52x · Post by **BullBear52x** » Tue Mar 29, 2011 9:44 am

Support at mid BB hourly, and 5ma daily. fail here, I see 50cents more to the bottom channel

Post by **Cobra** » Tue Mar 29, 2011 9:51 am

Down leg too steep, so the very first rebound should fail.

Post by **Cobra** » Tue Mar 29, 2011 9:52 am

Here's why it rebounded.

BullBear52x · Post by **BullBear52x** » Tue Mar 29, 2011 9:57 am

this chart doesn't look healthy or is it?

99er · Post by **99er** » Tue Mar 29, 2011 9:57 am

SPX
Target 1281.
http://99ercharts.blogspot.com/2011/03/spx_29.html

Me XMan · Post by **Me XMan** » Tue Mar 29, 2011 10:03 am

Continuing shorting SPY to get lunch money.
QE3 better be out or SPX will crap out.

BullBear52x · Post by **BullBear52x** » Tue Mar 29, 2011 10:07 am

99er wrote:SPX
Target 1281.
http://99ercharts.blogspot.com/2011/03/spx_29.html

Nice chart, keep it coming.

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03/29/2011 Intraday Watering

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