07/14/2011 Intraday Watering

[99er]

RUT
Update.
http://99ercharts.blogspot.com/2011/07/rut_14.html

[tomsky]

People must be blind if they cant see a CLEAR topping HS pattern on 5 min chart with right shoulder in now at 132.75.... now lets see the flush from here.... targets below 1300 SPX

The H&S fromations should be taken into consideration ONLY whne the price break through the neckline ANd coroborated with other signs (divergences, etc). otherwise not. Last big H&S that was trying to trick me was in april i think and if it would played the ball it would have made a killing...

[The Hook]

Third lower high in IWM, IYR red.

[KENA]

Still don't know..The XLF and IYR are tending dn..These pain pills are distorting my views.

[agnosia]

hey guys, this see-saw market is driving me nuts! i am on the sidelines..

CRUDE UPDATE _

if crude can make a new intermediate swing high with an hourly close over 99.42 i will play it long. Price action is constructive so far since we held the intermediate swing low of 93.45 and could be forming some sort of a bottom here... good luck to all today.

[The Hook]

KRE down 80 bp

[champix]

GM all,

Shorted oil this AM at $98.80.

Hi Anaconda,

Short either on Crude @ 98.55... I am looking for 97.55 target. Cross fingers...

[agnosia]

GM all,

Shorted oil this AM at $98.80.

Hi Anaconda,

Short either on Crude @ 98.55... I am looking for 97.55 target. Cross fingers...

this is a counter-trend trade as crude is firmly in an uptrend. there was huge buying volume yesterday and 97.50 is strong support. good luck ...

[soku]

today seems a range day to me. yesterday's h-l defined the border. feel like es need to drop to 1313-1314 level then pick direction.

[BullBear52x]

I am expecting new low today, if not I'll change side

[ccash04]

Been swing trading AGQ for a silver play. I would like to see a close above 210 and then should be off to the races. Broke out of the descending channel or broadening wedge a week ago and had the throwback.

[LordPalpatine]

[quote="Cobra"][quote="LordPalpatine"][quote="99er"]Honey...what about Monte Carlo?
SPX http://99ercharts.blogspot.com/2011/07/spx_14.html
What for...to gamble?[/quote]


Hi 99er, Cobra, congratulations to you and the site and forum, great place to learn!
I wanted to ask you cobra, do you think there could be a diamond formation with bullish implications on ES on your chart?
Cheers,
LP[/quote]

Another newcomer, welcome. but still not girl, judging by id, 90% chances.

I don't see diamond formation on Global ES, but SPY or regular ES 60 min chart can be seen as diamond. The problem is the breakout on Diamond can be on either direction (downwards breakout 69% of the time), so until breakout happens, it's hard to know.[/quote]




I am a latin boy, in high demand from certain swede megababes in the greek islands!:) Blonde babes in tight bikinis aah:)
Although 1295 is key, pivotal support in the SPX remains the June 16 reaction low at 1258. If this level holds the SPX is
in bull mode, whereas a break of 1258 could change a thing or two. AAII has made a sharp swing into the bull camp VIX well below alarm levels, 62% of world markets already bearish, a divergence in semiconductors vs SPX, I think theres a possible bottom in USD pointing to 79 area, bullish for stocks.
I wonder what could be the implications on tomorrow ban on Gold and silver ban from tomorrow, it reminds me banking vacation in 1933:) Silver is in a triangle formation maybe pointing south, bullish for SP? Do you think big boys at wall St may be trying a last try to make SP rise?
Only this worries me. I am trying to do the maths on every default probability, and maybe its gonna be uneasy for Greece to have a free lunch.


Highest Default Probabilities
Entity Name CPD (%)
Greece 86.43
Portugal 60.98
Ireland 60.04
Venezuela 51.27
Pakistan 45.90
Argentina 36.93
Ukraine 29.44
Spain 25.27
Italy 22.81
Vietnam 22.22
Sovereign Wideners
Entity Name 5 Yr Mid Change (%) Change (bps) CPD (%)
Slovenia 127.84 +7.81 +9.26 8.74
United States of America 54.23 +7.48 +3.77 4.68
Spain 327.90 +4.66 +14.61 25.27
Italy 290.73 +3.65 +10.25 22.81
Belgium 185.83 +3.27 +5.89 15.37
Morocco 181.88 +2.89 +5.11 12.10
Poland 167.78 +2.08 +3.41 11.36
Croatia 312.15 +2.00 +6.13 20.01

[lostlamb98]

trying to fill the gap?

[Anaconda]

GM all,

Shorted oil this AM at $98.80.

Hi Anaconda,

Short either on Crude @ 98.55... I am looking for 97.55 target. Cross fingers...

Welcome into the water! I'm targeting 96.75 based on the following charts. The 10-min points to the target.

[soku]

heads up. ben is talking about possible rate hike in case of t downgrade. dx rally, es is still hesitating

[silicon_beaver]

by the way, any of you guys remember what happened the last time we had a new record online? We had a new record again yesterday, so it could mean a pivot point? Any thoughts?

this board will have more ppl coming~

Definitely for sure.

[champix]

GM all,

Shorted oil this AM at $98.80.

Hi Anaconda,

Short either on Crude @ 98.55... I am looking for 97.55 target. Cross fingers...

Welcome into the water! I'm targeting 96.75 based on the following charts. The 10-min points to the target.

Closed @ 97.55 ! It will be it for me ! But your target is clearly on the way !

[soku]

heads up. ben is talking about possible rate hike in case of t downgrade. dx rally, es is still hesitating

wow he is saying further qe may not be effective!

[agnosia]

heads up. ben is talking about possible rate hike in case of t downgrade. dx rally, es is still hesitating

too much damn headline risk in this market...

[BullBear52x]

last stand for Bulls