08/04/2011 Intraday Watering

[AK84]

Cobradaaaaa ????

[Cobra]

overshot, 3 push down, volume surge, so could see a rebound of some kind here, then we'll see.

[99er]

ES
Fresh low.
http://99ercharts.blogspot.com/2011/08/es_8143.html

Incredible.

[Cobra]

forgot to mention, tinted area as text book target, 75% of the time. We're almost there.

[stucap]

I fear that the btfd cavalry is currently on the other side of this trade targeting some point below that I cannot figure out. Seems like every attempt to btfd gets gobbled up quickly (see 8am hourly candle on the ES). The brick walls that used to befuddle bears on any and every support line are now standing 100 ft tall in front of the bulls at any and every resistance line. Absent a big reversal today, a move like this after a hammer yesterday, makes me want to run for the hills. The news out of Europe today was no surprise and yet the ES is down 180bps? Bulls better wake up or they'll be buying the dip at 1175.

not sure if it helps(or holds true) but after the hammer on the daily chart after a big down day the follow on day is mostly low (i.e. close lower) [that's after looking @ quite a few daily bars]. but the day after (which is tomorrow[friday]) be the positive (green day).

Thanks newbie. Anyone out there have any targets that these bears are after? Just seems like relentless selling to me on rather weak volume.

[agnosia]

i guess people who bought longs yesterday and held them will capitulate soon? so we may see some more downdraft... still no panic selling like yesterday. i like 1220-22 long and am glad i am not in this market at the moment.

come on guys capitulate already !!

[Cobra]

still think a rebound is possible, 3 push down, volume surge and overshot, then we'll see. 90% chances today open > close.

[KENA]

still think a rebound is possible, 3 push down, volume surge and overshot, then we'll see. 90% chances today open > close.

I hope you are right..I 'm on the line for selling out..When this happens the mkt turns and gos up. Ha Ha

[soku]

i still believe 1235 is the bottom for next couple hours. anything below is just overshooting.

apparently i am wrong. i see a weak support at 1220-1222 area for a shorter time frame.
as i mentioned yesterday, if we close below 1230 area, the next step will be around 1200

[99er]

RUT
What a field day.
http://99ercharts.blogspot.com/2011/08/rut_04.html
For the bears.

Honey...what's for lunch?

[Cobra]

target met by the way.

[uempel]

Update, looks like the green trendline is holding for today:

[agnosia]

european bloodbath - http://finance.yahoo.com/intlindices?e=europe

maybe we will stop going down after they close in 20 mins? that wasn't the case a few days ago...

on /es we have gotten back into the falling wedge. bottom of the wedge is 1210.

[varaamo]

Pidge,

What a day to join the forum. I am a noob here. Curious to know more about the SI indicator. Do you have the code for it?

Thanks in advance,
kv

[Cobra]

rebound as I said, let's see how far this rebound can go.

[KENA]

It's remarkable Nflx Calls I got yesterday have not gone down much from the open.In fact right now they are up 12 cents more then the open. Who knows we might break even today.

[silverharp]

possible bear flag breakdown on AUDJPY 1min chart,

[uempel]

european bloodbath - http://finance.yahoo.com/intlindices?e=europe

maybe we will stop going down after they close in 20 mins? that wasn't the case a few days ago...

on /es we have gotten back into the falling wedge. bottom of the wedge is 1210.

Yeah, the daily SPX MA 377 is at 1209... 377 has proven to be crucial these past years.

[Me XMan]

SPX 1100 coming?

[Me XMan]

Operation goose up the pig after Europe closes?

european bloodbath - http://finance.yahoo.com/intlindices?e=europe

maybe we will stop going down after they close in 20 mins? that wasn't the case a few days ago...

on /es we have gotten back into the falling wedge. bottom of the wedge is 1210.

Yeah, the daily SPX MA 377 is at 1209... 377 has proven to be crucial these past years.