05/25/2011 Intraday Watering

[stockcycle]

Do you guys agree that 1319 will take the role of support from now on?

[MajorEasy]

here's what I see why it's not a broad based rally. you can always find this kind of info in my chart book at 5.0.3.

Thanks!

[Anaconda]

Total hatchet job on the dollar, today...and this is all we get on the pump effect?

[uempel]

I'm not trading SPX today, as I'm not sure about the overall direction. Bullish percentages of SPX are at a crucial point and I would not be surprised to see a rally tomorrow, but it's only a guess...

SPX fighting like hell to stay above the grid line. Bulls want to keep SPX in the 1313 - 1320 range today and then to lift the index above the 55 DMA tomorrow at the opening.

[shooker]

Cobra, did you back test how many times the maket gapped down like on Monday during this bull market since 2009?

no. I just know according to Stock Trader's Almanac, red both Friday and Monday was a very bad sign.

Cobra in your market report last weekend, you mentioned the week before memorial day is bearish, but the week during memorial day is bullish, so is it safe to hold stocks all the way till next weekend?

[BullBear52x]

The market is on FIRE! This is what I called a price reaction to an important MA crossed, in this case is our 13/34 ma. this is healthy market, still trading under the major trend line. be cool two hours from now is when the market will decided for sure what it wants to do for tomrrow.

[stockcycle]

To uempel,
I really like your charting tool.

[uempel]

To uempel,
I really like your charting tool.

Thank-you stockcyle, here a chart which will annoy the bears...

[99er]

ES-ZB
Say Ben...you having Chinese delivered?
http://99ercharts.blogspot.com/2011/05/es-zb_25.html

[stockcycle]

Really! I didn't got that long-chart knowledge. Luckily my reading on short term chart give me something alike. Thanks you Uempel.

[Cobra]

Cobra, did you back test how many times the maket gapped down like on Monday during this bull market since 2009?

no. I just know according to Stock Trader's Almanac, red both Friday and Monday was a very bad sign.

Cobra in your market report last weekend, you mentioned the week before memorial day is bearish, but the week during memorial day is bullish, so is it safe to hold stocks all the way till next weekend?

if red day today, you can try to buy at close then hold for at least the very first green day.

[MajorEasy]

watch TLT, there's a high inverse correlation.
market moves inverse to TLT

[gabor]

if red day today, you can try to buy at close then hold for at least the very first green day.

Cobra, you do not count with a serious, quick break down from here?

[Mr. T]

Thanks Major!

[Cobra]

if red day today, you can try to buy at close then hold for at least the very first green day.

Cobra, you do not count with a serious, quick break down from here?

everything is hard to say now, let's just wait and see.

[99er]

SPX
So Ben...how's that steamed fish?
http://99ercharts.blogspot.com/2011/05/spx_7471.html
Don't turn it over now...brings bad luck to fishermen!

[gabor]

I guess, the next move is to test yeterday's high.

[KENA]

FYI...The gap at 131.3 back in mid April has not been filled as yet.Wouldnt it be great if it is filled today.

[Cobra]

Question: What is the ticker symbol for Russell 2000 ETF?

[Cobra]

why I ask such a question? really strange, lot's of people passed the test but simply got wrong on this last question. interesting.