06/15/2011 Intraday Watering

[Cobra]

Cobra, do you use the 20 ema on the 5 minute as important support/resistence area on intra-day trading often?

as reference.

[KENA]

It's time to add to your shorts.Short the mkt for at least the next 2 days. Lets see.

[Cobra]

still nothing to say, until the morning taken, bears are still not out of the wood yet.

[Orbiter1]

The right wing of IHS is in the forming. Closed all my shorts. Go Long SPX > 1293. Go Short SPX <1265.

[amalgamator]

Hi guys, the better second half of the month performance is a reflection of the influence of nocturnal illumumination. Positive influence from next week into early July.

We had more than 10 bottoming indicators on Fri/Mon. The times in last mid-year's soft patch when we saw such a gathering looked like this.

[Denali92]

Remember the FED is next week and historically (except for March), we tend to rally in to the FOMC or at least until a few days before the FOMC.... last year, we peaked out on the Monday before June FOMC. The year before we peaked out on the Friday before FOMC.

As for the Opex edges of selling when Hourly OB or buying when hourly OS - no signals have been triggered so far.

-D

[Cobra]

ok, since we have more visitors, my moral is a little bit high so say more: pay attention to the very first time when 60 min bearish engulfing close, sharp gap down the next morning, how the market rebounded. today's rebound is much weaker than the last time, so bears are not totally hopeless yet. the fighting is still going on.

[feibingjia]

SPY didn't touch today's high...at least not yet and it has been after 10:30am...how do you read this, Ban Zhang?

[cc2265]

@ 5 min SPY chart, a small double top seems in forming

[99er]

SPX
The day the levee broke.
http://99ercharts.blogspot.com/2011/06/spx_15.html
This is "Before."
[Check in at the end of the day for "After."]

[BBFinance]

ok, since we have more visitors, my moral is a little bit high so say more: pay attention to the very first time when 60 min bearish engulfing close, sharp gap down the next morning, how the market rebounded. today's rebound is much weaker than the last time, so bears are not totally hopeless yet. the fighting is still going on.

They will wait for the European market to close to play their game here. If the gap has to close and I think it will close, the up swing will possibly come later in the day. Not based on any technicals but based on the manipulation pattern observed so far.

[cc2265]

Cobra, do you think today's low will be revisit? thanks

ok, since we have more visitors, my moral is a little bit high so say more: pay attention to the very first time when 60 min bearish engulfing close, sharp gap down the next morning, how the market rebounded. today's rebound is much weaker than the last time, so bears are not totally hopeless yet. the fighting is still going on.

[99er]

BKX
Island Reversal.
http://99ercharts.blogspot.com/2011/06/bkx_15.html

[brownstein00]

dollar very strong move today....

[EkOnkaar]

ok, since we have more visitors, my moral is a little bit high so say more: pay attention to the very first time when 60 min bearish engulfing close, sharp gap down the next morning, how the market rebounded. today's rebound is much weaker than the last time, so bears are not totally hopeless yet. the fighting is still going on.

Bradley Mini Turn Date today..significant one coming up in July 29th. So, possible summer rally here, and then tank on July 29th.
Ek

[StrikePrice]

I closed my shorts at open as well.

My proprietary signal is still Neutral. Has been since 4/11. We can just go sideways for a while between 1295 and 1265 until a signal is triggered, though the timing element is saying Buy, the price element is not.

[Cobra]

Cobra, do you think today's low will be revisit? thanks

ok, since we have more visitors, my moral is a little bit high so say more: pay attention to the very first time when 60 min bearish engulfing close, sharp gap down the next morning, how the market rebounded. today's rebound is much weaker than the last time, so bears are not totally hopeless yet. the fighting is still going on.

so far bears have hope.

[99er]

EURUSD
Back test of broken neckline.
http://99ercharts.blogspot.com/2011/06/eurusd_5808.html
Look out below!

[KENA]

I have expected the bears would be doing better.We have way to many people/traders who think this is the bottom and now we are going up for the next 2 weeks. Put this in contrarian perspective and maybe we chew around here for a day or two then we go down.Just a thought. Wait and see.

[Copeland]

60 min YM clearly shows a downtrend. Looking to reshort at 11950-11960.

Crude (CL) and Gold (GC) look like they've broken out and are entering new 60 minute bull channels.