08/30/2011 Intraday Watering

[Glitch]

This may be a target?

[keesa]

closed under resistance at 121.8, tomorrow is going to be ugly

[shumushu]

What happens at the close tends to continue into the morning. I am expecting an early sell-off in the first 30min then continue to consolidate in this area.

[Ninja Trader]

"who in their right mind would want to be long today, with our economy the way it is."

I'm certainly not some raging bull, not at all in fact..... but I do recall the economy looked darkest in the first quarter of 2009, not a bad time to be shopping for longs in hindsight.

The economy is not the stock market.

[silicon_beaver]

Actually, since last Friday FED meeting, everyday was green. Ben is behind to drive the market, hard to believe that MM will make a day red. We will see.

[PLUNGE]

This fits with Umpel's timing charts. the BB squeeze is on and momentum is up but waning. Market needs a day or 2 to let us know which direction for this projected major move.