08/10/2011 Intraday Watering

[Cobra]

Small gap down (well, relative to those days, it's small) but within yesterday's range so chances are the gap will be filled and usually the day after a Major Accumulation Day tends to be a small range day and usually there's a day or two follow through yesterday's huge rally, so I'll assume perhaps another green day today? Or at least the overnight highs will be attempted?

[AK84]

Morning Cobra.

Futures down 18 handles at the moment. That is quite a large gap down...still expect that to be filled todayyy?? I thought you were bearish biased today so why not yesterdays low tested first before high to turn into a green day.

Thanks so much

[alvian33]

last few days market is like a casino, it's just unbelievable how it's jumping back and forth without no real reason/value change within that few hours, crazy market

[ddd]

Day's range (H-L) is said to be often around 1x the VIX value.

[nonabear]

Is there news in Europe...their markets are moving down hard...driving our futures down.

[uempel]

Expecting a lower open and this will be my map:

[Cobra]

Morning Cobra.

Futures down 18 handles at the moment. That is quite a large gap down...still expect that to be filled todayyy?? I thought you were bearish biased today so why not yesterdays low tested first before high to turn into a green day.

Thanks so much

Possible but for now the chart looks a little easier to test the high first.

[cougar]

IWM: deep technical correction coming.
Yesterday, on its latest move up, IWM broke an essential rule of Murrey Math: “NO more than 5 MM levels in ONE INTRADAY MOVE!!” It did 7!!!
Therefore, it has to correct.
One can try to find the bottom of this correction - in agreement with Cobra’s scenario.

[edwindes]

Is there news in Europe...their markets are moving down hard...driving our futures down.

french downgrade rumor

[Cobra]

the open.

[alvian33]

this market is NUTS, stay away from it....

[quientuves]

Today we'll have news from Treasury or i'm wrong?

[Tabby]

this market is NUTS, stay away from it....

No, we can't . We are addicted to this market. Coming back for more everyday.

[uempel]

Update:

[AK84]

Update:

SPX12.png

where do u see us going today ? down ?

[silicon_beaver]

GM!

[aimei]

Morning Cobra, plus ppl I don't know
wave hands

[soku]

i see some support around 1128.25-1129.5. overall i think it is oversold, but i am not sure whether the next movement is impulsive or corrective.
the market is beyond my understanding at this moment. i will just sit on hand and watering

[Cobra]

not much clue about the market, hopefully this hourly bar is an exhaustion bar of some kind...

[Cobra]

Morning Cobra, plus ppl I don't know
wave hands

hmm, maybe in the future, guys in this form should wave different things to express self, such as:

wave hoofs or wave claws.