09/14/2011 Intraday Watering

[KENA]

The SPX 60 min charts are still showing Stoh's are over bought.But lets see

[BullTart]

by KENA » Wed Sep 14, 2011 1:01 pm

I will say that this last push came very close to the point where I would have covered my shorts.

That's the idea

BTW- in the same boat. But I will need a convincing breakthrough to confirm that it isn't a fakeout. Willing to forgo some of my profits from earlier this week for that confirmation.

[Cobra]

much shy of my target then already testing the high, strong, need a new plan. wait...

[jarbo456]

by KENA » Wed Sep 14, 2011 1:01 pm

I will say that this last push came very close to the point where I would have covered my shorts.

That's the idea

BTW- in the same boat. But I will need a convincing breakthrough to confirm that it isn't a fakeout. Willing to forgo some of my profits from earlier this week for that confirmation.

i have trapped shorts, and in the same boat. the worst part of this is that it's such a grinding levitation.

it may not show as a "strong" push up, but it is pretty consistent.

stochs and the rest of the moment/strength indicators haven't been really working for me at all this week.

[MajorEasy]

Bulls have the ball

http://stockcharts.com/def/servlet/Favo ... 5&cmd=show

[KENA]

by KENA » Wed Sep 14, 2011 1:01 pm

I will say that this last push came very close to the point where I would have covered my shorts.

That's the idea

BTW- in the same boat. But I will need a convincing breakthrough to confirm that it isn't a fakeout. Willing to forgo some of my profits from earlier this week for that confirmation.

Yes..I'm like BB52x right now.If we break RSI 50 this could go higher.If it does not then I agree with you about tommorw.

[Al_Dente]

Swingers, long termers ignore this.

Even my scalper lines say go bull, but they can change REALLY quick. (Here 4/9ema, some use tighter 3/7, some looser)

http://stockcharts.com/h-sc/ui?s=SPY&p= ... =243765200

[Cobra]

Measured Move or ZigZag target should be around here.

[agnosia]

not trusting this rally. most of the risk trades are down : crude, copper, aud/jpy.. one plus is vix down and euro up.. but then there is bonds up which is risk off..

mixed signals to say the least

[HappyFriday]

Nice setup this week to catch some bears. Buy all cheap calls !

[tapesense]

The firehose market http://www.youtube.com/watch?v=9rPug9OLN2Q

[qtipped]

Measured Move or ZigZag target should be around here.

shoot, i have to wait till 119 to get squeezed out of my shorts?? this blows...there's hardly any pullback to the MA...and it's slow which is the worst part. will prob hold till tomorrow after job report to blow out of this loser trade.

somebodies must know something good about tomorrow to be supporting this uptrend??

[Cobra]

strange, still pretty much a 3 push up or wedge, whatever you like to call. Cannot this market pullback even a little?

[jarbo456]

The firehose market http://www.youtube.com/watch?v=9rPug9OLN2Q

lol too true, and funny vid.

[jarbo456]

Measured Move or ZigZag target should be around here.

shoot, i have to wait till 119 to get squeezed out of my shorts?? this blows...there's hardly any pullback to the MA...and it's slow which is the worst part. will prob hold till tomorrow after job report to blow out of this loser trade.

somebodies must know something good about tomorrow to be supporting this uptrend??

i was just going to write that the bulls might be "weak", but these pullbacks are pitiful.

[qtipped]

Measured Move or ZigZag target should be around here.

shoot, i have to wait till 119 to get squeezed out of my shorts?? this blows...there's hardly any pullback to the MA...and it's slow which is the worst part. will prob hold till tomorrow after job report to blow out of this loser trade.

somebodies must know something good about tomorrow to be supporting this uptrend??

when you guys see this spx drop like a rock, it probably means i just got out....

[KENA]

I see a symetrical triangle on the comp and the spy maybe also so watch for breakout either way on comp.

[CognitiveDissonance]

strange, still pretty much a 3 push up or wedge, whatever you like to call. Cannot this market pullback even a little?

not on opex week, I guess.

[BullBear52x]

Measured Move or ZigZag target should be around here.

Cobra, your 3 push up/down combine with standard simple divergence become the most reliable and profitable. with that said we need one more push up to fulfill this thesis?

[StrikePrice]

2-4 trendline firmly in place and breakout means we're in wave 5. All you bears get ready to short. But I'm going to be patient. I expect the blue line to be broken but if wave 5 extends due to better than expected news than the Bulls have a shot at the pink line and making it back above 1200 before a decent pullback. And if then can break the pink line we may finally have an uptrend and not just a rebound. So the key is whether this wedge up will give up our great short setup again, or as Cobra would say, "this time is different". I wonder what Cobra thinks about this time? Yes we can?