06/29/2011 Intraday Watering

[Thunder]

Guys, even in a DT forum it's good to check the overall picture. This 20 year SPX chart (!) shows that the action of the last few days is (presumably) a jump back to the broken trendline. First chart shows the overall picture, second chart shows the close-up:

SPX6.png

SPX7.png

VERY CLEAR CHART UEMPEL !!! Thanks

[Cobra]

60 min ChiOsc is till very high, don't forget this chart. again, market comment is different than trading signals, so I don't mean you should or should not short here. you have to combine whatever info I give here with your own trading signals.

[alvian33]

cobra, do you still think the march lows will be retested, or we are going to new highs in your view?

[Cobra]

cobra, do you still think the march lows will be retested, or we are going to new highs in your view?

let's see how market close today. my trading plan is clear though: I'd buy the very first pullback if any.

[BullBear52x]

60 min ChiOsc is till very high, don't forget this chart. again, market comment is different than trading signals, so I don't mean you should or should not short here. you have to combine whatever info I give here with your own trading signals.

I have not lose money following you with my own combination, rough trade some times but so far so good, and all great contributors on this board, you guys rock thank you all. I take what's good from everyone.

[cc2265]

Tomorrow EIA report will be published at 10:30am, seasonally bearish. I think today UNG will close above $10.9x and prepare for tomorrow's drop, If big guy do not want UNG drop below below $10.5x. August is Hurricane season, one more long UNG before winter. I plan buy some UNG call tomorrow.

BullBear52x,
are you still trade UNG? tomorrow is good to buy

UNG is my swing trade BUY, I am holding 20% after 80% unload yesterday. today will add back 80% above 10.94.( not now) early stage yet so tight stops. I will be in and out until it can trade above 11.20 before I hold 100% lot over night. so far looking healthy.

[cougar]

While the market is sleepily mesmerized by the POTUS, I decided to show my daily SPX timing chart, which served me well for more than a year.
It is a “3 Line Break” in which time is intentionally compressed when a change in trend is being attempted.
On this chart I calculated 2 types cyclical timing punctuation events:
- “Gannesque vibrations’ - in yellow
- 2 active “Hurst cycles” with distinct periodicities - red and blue.
One might notice the significant precision of the Gann vibrations, which have a time pivot value, without a preconceived directional meaning. A shift in trend can be thus be assumed “ad hoc”.
In contrast, the Hurst cycles, although apparently sloppy, have a significant ability to predict market lows when their troughs are close or overlap in time, i.e. they display a “nest of lows”.
The arrows are self-explanatory.

[bbc]

cobra, do you still think the march lows will be retested, or we are going to new highs in your view?

let's see how market close today. my trading plan is clear though: I'd buy the very first pullback if any.

I have been waiting pullback also:D

[Cobra]

cobra, do you still think the march lows will be retested, or we are going to new highs in your view?

let's see how market close today. my trading plan is clear though: I'd buy the very first pullback if any.

I have been waiting pullback also:D

in reality chasing high is safer than buying pullback, so usually my trades are chasing high, not wait for pullback.

[alvian33]

how about the first two scenarios you've outlined last night, you think they are still possible, or now less likely? thanks

[Cobra]

this rebound attempt is critical for bears, if very strong, then forget about the pullback.

[99er]

cougar: "daily SPX timing chart"

I want to draw like that!

[Cobra]

how about the first two scenarios you've outlined last night, you think they are still possible, or now less likely? thanks

let's see how market close. if close right here, I'd consider this is a big up but if close open > close then it still could be a bear flag. all depend on how market close today, because I have a little doubt about the upside room, otherwise I'd pretty much sure the game is over for bears.

but the short-term trading is simple, the very first pullback is buy.

[alvian33]

thanks, from your comments it does not seem like you have doubt about the upside, seems like you favor bulls,

[cougar]

cougar: "daily SPX timing chart"

I want to draw like that!

99er: the drawing is not that hard…The devil is in the math.
LOL!
====
BTW, nice butterfly posted by you early this morning, I’ll follow it!

[proteus46]

Interesting end of month to beginning of month pattern for last 4 months.

[Cobra]

thanks, from your comments it does not seem like you have doubt about the upside, seems like you favor bulls,

the pullback is just for very short-term term, then usually should be another push up to make a new recovery high. the short-term trend is clear up. and if we close right here, i believe the intermediate-term trend is up too.

so bears game is 90% over. The only hope is how far this pullback can go, IF ANY.

[bbc]

cobra, do you still think the march lows will be retested, or we are going to new highs in your view?

let's see how market close today. my trading plan is clear though: I'd buy the very first pullback if any.

I have been waiting pullback also:D

in reality chasing high is safer than buying pullback, so usually my trades are chasing high, not wait for pullback.

great, of course I will wait at least a up bar after pullback to confirm,

but it seems you prefer range breakout stop limit to enter? I use that for chasing scheduled-event-momentum.

[Cobra]

cobra, do you still think the march lows will be retested, or we are going to new highs in your view?

let's see how market close today. my trading plan is clear though: I'd buy the very first pullback if any.

I have been waiting pullback also:D

in reality chasing high is safer than buying pullback, so usually my trades are chasing high, not wait for pullback.

great, of course I will wait at least a up bar after pullback to confirm,

but it seems you prefer range breakout stop limit to enter? I use that for chasing scheduled-event-momentum.

I use buy stop or sell stop to enter.

[uempel]

Cannot judge the importance of window dressing per June 30th, but the market sure looks bullish. Bye guys, I'm tired and need a break.