07/08/2011 Intraday Watering

Post by **Cobra** » Fri Jul 08, 2011 9:02 am

Big gap down below yesterday's range so odds are the gap won't be filled. The next immediate support should be very clear especially on the Global ES, the question is will the 3rd touch hold? The next Monday, by the way seasonality is bullish, as according to Stock Trader's Almanac, Monday before July expiration, Dow up 6 of last 7.

shumushu · Post by **shumushu** » Fri Jul 08, 2011 9:08 am

I covered already. Will wait for the open to see what happens. I am very lucky with the undesirable unemployment #s

TexasGordon · Post by **TexasGordon** » Fri Jul 08, 2011 9:11 am

Cobra, now we have a beautiful star for the daily chart and also a double negative divergence on the weekly RSI.

99er · Post by **99er** » Fri Jul 08, 2011 9:12 am

Good Morning.

Green Shoots!
ES http://99ercharts.blogspot.com/2011/07/es_08.html

TGIF.

uempel · Post by **uempel** » Fri Jul 08, 2011 9:14 am

This will be helpful today:

99er · Post by **99er** » Fri Jul 08, 2011 9:14 am

Belgian beer and fries!
EURUSD http://99ercharts.blogspot.com/2011/07/eurusd_08.html

Mussels too.

cheech · Post by **cheech** » Fri Jul 08, 2011 9:21 am

NO ONE DEFIES ME. NO ONE QUESTIONS ME. NOT COBRA. NOT ANYONE. IS THAT UNDERSTOOD?

http://youtu.be/XzPBUGUM7KQ

uempel · Post by **uempel** » Fri Jul 08, 2011 9:22 am

My Rubicon is the 1310 area, Any trough which dips below this level is an indication that the September 2010 bull is over.

MajorEasy · Post by **MajorEasy** » Fri Jul 08, 2011 9:23 am

dumb luck i guess i covered my e-mini ES shorts ...
if my wife only knew what a loss i had exposed us to, she would have killed me.
i was down 2.5k on this stupid stupid counter trend short.
made it all back in a few minutes and a little extra...
i trade futures for income and try to average $200. to $400. per day of trading...
i was down a weeks worth a trading....
thank-you job's report

Post by **Cobra** » Fri Jul 08, 2011 9:23 am

TexasGordon wrote:Cobra, now we have a beautiful star for the daily chart and also a double negative divergence on the weekly RSI.

Yes, but it's very rare for a strong up like we had recently to fail, so I still expect a higher high soon.

BullBear52x · Post by **BullBear52x** » Fri Jul 08, 2011 9:23 am

uempel wrote:This will be helpful today:
SPX1.png

I am looking at the same level of support around your fib 38.2%, coincides with 5dma and previous strong support of 133.5 area, I think there will be a big fight there, if bulls failed there, swing down trend will be confirmed for me and sell the rally will kick in.

DaWay · Post by **DaWay** » Fri Jul 08, 2011 9:26 am

Been waiting for global ES to reach that Purple target line of the Broadening Top (2nd chart taken 9PM some PST); it reached and puked minutes before the number released (1st chart). Check the time stamp on charts. Good weekend!

cougar · Post by **cougar** » Fri Jul 08, 2011 9:29 am

I will play USO options and oil stocks today:

KENA · Post by **KENA** » Fri Jul 08, 2011 9:31 am

The last 4-5 trys for the S&P Mid caps has been stopped at 1000 the all time high.Can it go higher..Not to day but something to keep watch on.

Post by **Cobra** » Fri Jul 08, 2011 9:31 am

the open.

BullBear52x · Post by **BullBear52x** » Fri Jul 08, 2011 9:31 am

line in the sand, good luck everyone, got to make some money

BullBear52x · Post by **BullBear52x** » Fri Jul 08, 2011 9:33 am

Island reversal day.

Post by **Cobra** » Fri Jul 08, 2011 9:34 am

in support area, QQQ and IWM are stronger.

Post by **Cobra** » Fri Jul 08, 2011 9:35 am

the bigger picture, we finally have our very 1st dip, but not enough for bears.

uempel · Post by **uempel** » Fri Jul 08, 2011 9:37 am

MajorEasy wrote:dumb luck i guess i covered my e-mini ES shorts ...
if my wife only knew what a loss i had exposed us to, she would have killed me.
i was down 2.5k on this stupid stupid counter trend short.
made it all back in a few minutes and a little extra...
i trade futures for income and try to average $200. to $400. per day of trading...
i was down a weeks worth a trading....
thank-you job's report

Yesterday at the close odds were on the short side, SPX might also have declined with good job numbers. As to your wife: I tell my wife that I always win, and she never questions me

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07/08/2011 Intraday Watering

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