08/10/2011 Intraday Watering

[wishful]

so today is trend day? flatting then selloff in the afternoon?

[soku]

gold at record high at 1795.
still sitting on hand and watering. market so boring. i will take the rest of the day off.

[BullBear52x]

in the past a trend day is when spx had 5 points move in one direction, these days 30 points y yike!

Try again here, this time will be the charm?

[silicon_beaver]

no good, the 3rd test has higher chances to breakdown. The pattern, overall, looks like a Descending Triangle.

breaking up instead of breaking down?
meanwhile sliver EXK, AG... up 5%.

[Cobra]

interesting, no breakdown, instead of a breakout, let's wait for a few bars next, if the breakout confirmed, then the text book target is the tinted area.

[RedCedar]

Congratulation Cobra !!!!

[Cobra]

For ES traders ( big move is comming )

hmm, this chart shows a up move is more likely, interesting.

[Dow Trader]

Yesturday's chart and today

[newbie_77]

thank you

[Out of Bounds]

Something soon.

[Cobra]

good maintain target. I even think the yesterday's high will be revisited, I'll show you why in the next chart (just a slightly better chances).

[uempel]

Is this something? That's it for today, the sun is shining and I'm going for a jog.

[99er]

Vroom vroom.

[Cobra]

ok, here's another way to read the chart:

since yesterday's push up was strong, so rarely, it's just one legged.

so we can see the morning pullback as a bull flag

and the breakout now a breakout the bull flag and start another leg up.

[uempel]

good maintain target. I even think the yesterday's high will be revisited, I'll show you why in the next chart (just a slightly better chances).

Funny, I had similar ideas...

[Dow Trader]

ES futures rarly have unfilled up gap but as Cobra always says " there is always exception "
this is daily chart for ES showing gap unfilled near today's high.
the 15 minutes Dow chart I post it here 20 minutes ago shows 1 leg up, if this up leg have another one, then this gap will be filled easly

[Dow Trader]

Here is what I ment by one leg up

[quientuves]

That's not a leg, it's a skyscraper...

[Dow Trader]

If the yesturday up leg have another one, then I expect it to be stair steps to the up side ( not sharp and strong move ) to kill vix slowly

[Cobra]

Here is what I ment by one leg up

agree.

now, you, me, uempel, all agree on the same thing, let's see if we're powerful enough to guess it right.