06/02/2011 Intraday Watering

[ctu688]

Here is an update on oil. It is moving along the projected path well but here is where I become neutral on it. You can clearly see a triangle or even a possible head & shoulders bottom on it. I can't discount anything here so I'm out of my short. Actually, I got out yesterday a bit too soon, but not regretting it. Look at that reversal. Just be careful if you're short crude. Wait for this path to take shape.

Thank you for the sharing. Two days ago, May 31, you called a short on oil. I don't see the reason on that day. How did you make sure a brave and great call?

ctu

[alphahorn]

5 min chart about to join the 1 min signaling trend change, also inverse H&S measures 1329 once confirmed with break back above neck

[soku]

5 min chart about to join the 1 min signaling trend change, also inverse H&S measures 1329 once confirmed with break back above neck

me not that greedy. 1311 filled. plan to sell at 1317 then wait for another buy dip process.

[PRI]

5 min chart about to join the 1 min signaling trend change, also inverse H&S measures 1329 once confirmed with break back above neck

Great chart, thank you!

[soku]

5 min chart about to join the 1 min signaling trend change, also inverse H&S measures 1329 once confirmed with break back above neck

me not that greedy. 1311 filled. plan to sell at 1317 then wait for another buy dip process.

greetings alpha. nice to see u here. i know u from the "drama queen" place, then some other blog, then i went to yr own blog until...
i am not going to tell u my id/ids. no ask.

[pablorynx]

cobra, still maintain 60% chance green week this week?

[Cobra]

back test the previous high, anytime back test of the previous extremes, it's a critical time, failed here would be bad for bulls.

[99er]

ES
Bear Flag update.
http://99ercharts.blogspot.com/2011/06/es_6612.html

[Tabby]

Cobra,
I don't see much volume toward the end. This market pushing on low volume.

[PRI]

[alphahorn]

I hope it's consolidating a bit before it breaks up out of this inv H&S or ascending triangle.

[alvian33]

hard to say, it also looks like a bear flag as well, so looks crapy here, unless we break 1317 on es

[BullBear52x]

I don't like this, I am a bull here, but if trades below 131.75. I will be a bear.

[alvian33]

btw, when should Ben say if there will be QE3 or not? does anyone know?

[nasa1100]

close in red after MDD ?

[KENA]

I don't like this, I am a bull here, but if trades below 131.75. I will be a bear.

Get ready to be a bear.

[Cobra]

speechless, it is back test the previous high then rollover on 5 min chart... guess that's it for today, thank you guys, I'll see you tomorrow.

[KENA]

It looks like all the S&P and Vix will close in the red.Does that mean red day tomorrow.

[alf]

Is it for a green close tomorrow?

[BullBear52x]

I don't like this, I am a bull here, but if trades below 131.75. I will be a bear.

Get ready to be a bear.

I am now, hell with this market. Thanks Cobra and everyone today.