09/28/2011 Intraday Watering

[Al_Dente]

Internals update
Bears sticky at the moment. $NYDEC (red) declining issues 2300, and VIX +6% etc
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =244574918

[cougar]

cougar, u use close in emd for vix and h+l for others. any justification?

Yes -it depends on how much I want to smoothen the curve, in order to get "unambiguous" signals. I am with J. Ehlers on that issue. Some trials are helpful...

[Cobra]

some fib info here.

[heavenskrow]

Hmm very interesting
I copied the last 2 previous peaks and pasted it on to the low, and we find support and bounce.....on SPY

[SB73]

covering here . don't think we're gonna breakdown with the /es flat.

Triangle on the 5min chart for today...should continue down

Breakdown target 1159

Target met...closed wait for next setup

[cougar]

BTW...VIX and SLV reported signals worked well today, as apparent from the recent price evolution....

[99er]

EURUSD
Update.
http://99ercharts.blogspot.com/2011/09/eurusd_2592.html

Au revoir mon viex.

[jarbo456]

don't want to jinx anything, but am super scared of a trend reversal at the end of the day. -_-

[hemlock21]

Todays drop on the SPY will be on greater volume than the last 2 days, and possibly the first day of this rally.

Also, Copper falling off a cliff today, very bearish

[Petsamo]

We have a higher low.

[BullBear52x]

Todays drop on the SPY will be on greater volume than the last 2 days, and possibly the first day of this rally.

Also, Copper falling off a cliff today, very bearish

I see the confirmation of the reversal candle, but volume? kind of low.

[pady]

Until 1145 ( and preferably 1130 ) is taken out, bullish case remains.

[Cobra]

well, hopefully a small bear flag here.

[SB73]

well, hopefully a small bear flag here.

Cobra good to see you posting...looks like more pain coming...possibly 1150 today or tomorrow morning

[SigmaEcho]

some fib info here.

Hi Cobra,

Have you ever looked into copper/spx correlation? I thought copper was leading spx. looking at copper now gets me flash crash dejavu.
thanks and get well soon

[BullBear52x]

Line in the sand, Magenta dotted line was gap resistance should not break up.

[soku]

this market is not as exciting as i expected. excluding the tiny spikes to both ends around 11, we are pretty much in a rectangle.
i wish es could dip to 1153.75, then i can go long there. take lunch break now. later

long condition not satisfied yet. my line remains at 1153.75. i don't feel comfortable to go long. will decide based on tape reading if we go there

we at es 1153.5 now. it is a no buy but will closely watch for a retracement

i don't feel like it is taking off. since next move should be meaningful, if the bullish setup is valid. my preliminary guess is 1170+.
maybe another pull back to get a buy. my question is will 1152 hold?

[BullBear52x]

I am done for the day, Thanks Cobra, you are a die hard, get some rest.

[Al_Dente]

Until 1145 ( and preferably 1130 ) is taken out, bullish case remains.

pady: I started to answer yr good question earlier, but “dropped” everything to trade
U: money gotta move from HERE to THERE
Me: we don’t care where the money goes, we just want to find it and jump on it.
(assumption sell bonds/buy stock is only based on precedence)

....cash, you mean the green stuff?
mmmmm see if u can dig up any credible links to US banks high (low) cash reserves
We like the hard facts, as you know

[pady]

50% retrace from 112 to 119.6 is 115.8. Low is 115.8. Gap covered also. So bounce from here possible. Bears need to take out 114.7 and bulls need to 118+. Equivalent S&P will be 1145 and 1180.