02/25/2011 Intraday Watering

[greenback]

Copra, the last 2 red candle in 15 minutes started when Gadaffi started his speach again half hour ago and he still talking so far

Thanks a lot for the update! I guess nothing major?

[Cobra]

Sorry, I wan't focused. It was a good EMA Gap long there.

[Travelfrog]

SPX
Elliott waves look like we will pull back to yesterdays close 1306 area some time today also 50% of initial rise. Then rally up to close on the high of the day 1320.

Monday will then see another small push up to 1333 area 161.8% of initial wave. We should then get another leg down to at least previous low or 1280 area.

This would complete an ABC correction or will then continue lower if 1280 cannot hold.

[Dow Trader]

Copra, the last 2 red candle in 15 minutes started when Gadaffi started his speach again half hour ago and he still talking so far

Thanks a lot for the update! I guess nothing major?

No, nothing major. he finishedhis speach.. since his speach Dow is below 12120 and oil is going up

[zombiebraingoo]

uempel - I agree - my number as posted above is 1318-1320 based on the 60min spx 85ema

[BullBear52x]

I think we've seen the tops for today, congrats! dow trader, You nailed it.

[trader]

Sorry, I wan't focused. It was a good EMA Gap long there.

Cobra, what's an EMA gap long?

[Cobra]

Just a reminder, not mean it's going to reverse, any break trend line then retest the previous extreme could be a potential reversal. Let's wait and see.

[Travelfrog]

Chart to support elliott wave pattern expected.

[Cobra]

Sorry, I wan't focused. It was a good EMA Gap long there.

Cobra, what's an EMA gap long?

[trader]

Sorry, I wan't focused. It was a good EMA Gap long there.

Cobra, what's an EMA gap long?

Thank you!!

[markyuan81]

thank you ,Cobra! I admire you profoundly

[99er]

Crude
Careful...possible H&S on the 60-minute chart.
http://99ercharts.blogspot.com/2011/02/crude_4039.html

[Cobra]

Nothing to say, still hanging around Fib 50. Still looks like a consolidation therefore not bad for bulls.

[ddd]

The standard target for the /ES wave A is 1334, based on W1 being 38.2% of the the total height. W3 is in its sub-w4 corrective move, and should reach 1325 area, possibly this afternoon session.

[Dow Trader]

I think we've seen the tops for today, congrats! dow trader, You nailed it.

thanks,

[nova]

Crude
Careful...possible H&S on the 60-minute chart.
http://99ercharts.blogspot.com/2011/02/crude_4039.html

IEA says OPEC has ample spare oil capacity

[zombiebraingoo]

Until spx gets above 1320 we will probably bounce around above the 221ema on the 60min chart. No signs of collaspe.

[Dow Trader]

Crude
Careful...possible H&S on the 60-minute chart.
http://99ercharts.blogspot.com/2011/02/crude_4039.html

As always, I really like your charts and it could be H&S
but, last week many shorted oil $10 below this level so do you think the dealers will let it go down so they retailers cover there shorts ? in addition to the situation in middle east do you think oil refinaries and transportation companies can a ford another unexpeted problem in the weekend ?
today is Friday which is the day for oil and gold specially when there is an international problem..
when oil and gold in an uptrend, usually they drop in early friday then go up last 3 hours of trading, this is what big companies do in fridays "usually".
again, it could be H&S top but I will hold to the last minutes before the close and see.

[BullBear52x]

I know I should just focus on SPY?SPX here. EEM/EDZ