03/31/2011 Intraday Watering

[cletus]

Since everybody retired, no one is left to trade apparently.

Interestingly, someone I work with quit his job this year. He's older (40's or 50's) but I got the impression he was very confident he could re-enter the workforce in a year or two and kick back for a few years. Apparently many younger people are doing this too.

Contrarian indicator? LOL

[Cobra]

critical point, if bears cannot breakdown here, then it's game over, as this would be a failed 2 leg down!

[BullBear52x]

this buy will not be so bright unless the lady DOW participate. everyone seems to be on board but the DOW.

[Cobra]

good, still some bears alive. This should be a 2 legged down.

[Cobra]

Cobra,

You still expct a big breakout tomorrow???

No.

[99er]

SPX
Guess the fun only starts after lunch.
http://99ercharts.blogspot.com/2011/03/spx_4278.html

[FJoe]

Cletus,

I agree with your .886 Fib retracement, that is also where the strongest reversals happen. What do you use for cycle/timing work...as you mention a turning point this weekend. Is this Fib. time based? Thanks. Ever follow Copan from Market Matrix. Thanks.

Also, we have to open above the highs of yesterday/today (tomorrow morning), or we should see a decline in the coming days. When you get a gap up with a tail, it must follow through a couple of days later or you usually get a nasty selloff of at least 1-2 days...even though sometimes it takes a few more days to materialize.

[cletus]

Since March 16th, there has been only one hour (!) the whole rally where declining volume was greater than advancing volume. Insane. In fact, during this correction since February, there has been virtually no declining volume at all, yet prices haven't really advanced. Seems kind of bearish but I'm not sure.

[cletus]

Cletus,

I agree with your .886 Fib retracement, that is also where the strongest reversals happen. What do you use for cycle/timing work...as you mention a turning point this weekend. Is this Fib. time based? Thanks. Ever follow Copan from Market Matrix. Thanks.

Also, we have to open above the highs of yesterday/today (tomorrow morning), or we should see a decline in the coming days. When you get a gap up with a tail, it must follow through a couple of days later or you usually get a nasty selloff of at least 1-2 days...even though sometimes it takes a few more days to materialize.

Cycles are based on the spiral calendar and lunar activity. I don't know Copan but I will check it out. Higher scores on this chart indicate higher probability market turns.

[Cobra]

Cletus,

I agree with your .886 Fib retracement, that is also where the strongest reversals happen. What do you use for cycle/timing work...as you mention a turning point this weekend. Is this Fib. time based? Thanks. Ever follow Copan from Market Matrix. Thanks.

Also, we have to open above the highs of yesterday/today (tomorrow morning), or we should see a decline in the coming days. When you get a gap up with a tail, it must follow through a couple of days later or you usually get a nasty selloff of at least 1-2 days...even though sometimes it takes a few more days to materialize.

Cycles are based on the spiral calendar and lunar activity. I don't know Copan but I will check it out. Higher scores on this chart indicate higher probability market turns.

I've been watching their cycle for awhile (a year? I guess), seldom worked.

[uempel]

Just an observation:

[cletus]

Cletus,

I agree with your .886 Fib retracement, that is also where the strongest reversals happen. What do you use for cycle/timing work...as you mention a turning point this weekend. Is this Fib. time based? Thanks. Ever follow Copan from Market Matrix. Thanks.

Also, we have to open above the highs of yesterday/today (tomorrow morning), or we should see a decline in the coming days. When you get a gap up with a tail, it must follow through a couple of days later or you usually get a nasty selloff of at least 1-2 days...even though sometimes it takes a few more days to materialize.

Cycles are based on the spiral calendar and lunar activity. I don't know Copan but I will check it out. Higher scores on this chart indicate higher probability market turns.

I've been watching their cycle for awhile (a year? I guess), seldom worked.

Depends on the score, but indeed, it has worked quite often for higher scores. Caught the Feb 18th top on the nose. I don't trust any score below 4.5.

[Cobra]

Depends on the score, but indeed, it has worked quite often for higher scores. Caught the Feb 18th top on the nose. I don't trust any score below 4.5.

Anyway, my important time window is 04/03 to 04/13, according to the current market, it should be a cycle top. This is the most important time window so far I found for this year.

[cletus]

Depends on the score, but indeed, it has worked quite often for higher scores. Caught the Feb 18th top on the nose. I don't trust any score below 4.5.

Anyway, my important time window is 04/03 to 04/13, according to the current market, it should be a cycle top. This is the most important time window so far I found for this year.

agree, the question is what level, could be some slight new highs but still expect that deeper correction since TLT:TIP is still bearishly aligned and the last sell off was not deep enough for my liking lol

[Cobra]

Depends on the score, but indeed, it has worked quite often for higher scores. Caught the Feb 18th top on the nose. I don't trust any score below 4.5.

Anyway, my important time window is 04/03 to 04/13, according to the current market, it should be a cycle top. This is the most important time window so far I found for this year.

agree, the question is what level, could be some slight new highs but still expect that deeper correction since TLT:TIP is still bearishly aligned and the last sell off was not deep enough for my liking lol

if the time window act the same as its importance appears to me, this should be a major top. unbelievable at the current stage, right?

[cletus]

Anyway, my important time window is 04/03 to 04/13, according to the current market, it should be a cycle top. This is the most important time window so far I found for this year.

agree, the question is what level, could be some slight new highs but still expect that deeper correction since TLT:TIP is still bearishly aligned and the last sell off was not deep enough for my liking lol

if the time window act the same as its importance appears to me, this should be a major top. unbelievable at the current stage, right?

I cannot believe it

[BullBear52x]

Magic market now move righ along...DOW is getting lazy lately.

[cletus]

This was literally the most boring tape I've ever seen. See you all later and cross your fingers about the jobs report! It would be funny if there was no reaction or a small reaction. Every month it is so hyped yet more often than not the gap is not very large.

[BullBear52x]

This was literally the most boring tape I've ever seen. See you all later and cross your fingers about the jobs report! It would be funny if there was no reaction or a small reaction. Every month it is so hyped yet more often than not the gap is not very large.

You tell me, I got both longs and shorts. it's like hedging unintentionly though

[Cobra]

I WAS wondering, what, there's no 2nd leg down? Well, here we go, finally.