10/05/2011 Intraday Watering

[BullBear52x]

New immediate high we will get Neg D. let see how the bulls will handle this. especially strong so far.

[jarbo456]

goodmorning everyone...sorry i'm late...i'm a bit hungover.

ISM 53
52.8 expected
53.3 previous.

[stucap]

Expect a pullback @1103

after what high?

[CognitiveDissonance]

Good Morning.

EURUSD
http://99ercharts.blogspot.com/2011/10/eurusd_05.html

ES
http://99ercharts.blogspot.com/2011/10/es_05.html

SPX
http://99ercharts.blogspot.com/2011/10/spx_05.html

All bullish.

That's what me was hoping for today - TNA

[silicon_beaver]

10:00. any thing happening?

not much pop from ISM but MACD 5 minute ES looks like it just crossed so maybe more coming?

see, coming now.

[silicon_beaver]

stocks on my radar go up. FAS please do.

[rhight]

For the benefit of newbies. This was a good trade for me, about 10% gain in 5 days. I got that funny feeling yesterday afternoon, as I saw dwindling downside volume and positive divergences forming on the 60 and 15 min RSI. So I raised my trailing stop to the accelerated trend line, and just in time, as the order was filled within 10 minutes. With the volatility of late, I took the money and ran. Which is not to say the market will not immediately reverse and make a lower low. I don't know, and that is just it. My swing trade decision matrix still hasn't given me a buy to go long yet, and until it does, I may consider retaking a short position if a playable pattern sets up. BTW, (for newbies) it is good practice to document each trade, for review and learning.

[BullBear52x]

Neg D, bulls need to take out 113.5

[rocstocktrader]

Here is an interesting morning stock market video for 10/5/11: “Detailed Gold, Silver, Oil, Dollar, SP 500 Analysis, and Trade Ideas”

You can find the video on the right sidebar under: Tools-Free Trading Videos.

http://stk.ly/qYFCaS

[agnosia]

API report for crude yesterday was very bullish. the markets are tight, little or no contango in the market. if the govt report is as bullish i expect a nice breakout. i am looking for a strong move over 78.4 to go long. targeting 79.8 - 80. of course the /es needs to confirm because of the strong correlations unfortunately

[Cobra]

still too stretched.

[cougar]

NDX internals: back in a cycling mode.
Nice…but no cigar yet…

hi cougar
what does cycling mean?
thx

Hello "Al Dente": "Cycling" is a simplified way of saying that the price is prone to go up and down in small waves…”undulating” without a defined direction. This is opposed to “trending”- when the price might have small oscillations, but is in a trend UP or DOWN.
The “Empirical Mode“, which is based on the idea of “movement decomposition”, defines 3 domains, which attempt to “diagnose” those “modes”.
One has to be careful and not over-interpret it, because this indicator is nothing else than an “open end oscillator in relation to a virtual envelope”. That mans that “over-trending” can be interpreted, in the right context, as the equivalent of an overbought or oversold condition.

[ultramarine]

For the benefit of newbies. This was a good trade for me, about 10% gain in 5 days. I got that funny feeling yesterday afternoon, as I saw dwindling downside volume and positive divergences forming on the 60 and 15 min RSI. So I raised my trailing stop to the accelerated trend line, and just in time, as the order was filled within 10 minutes. With the volatility of late, I took the money and ran. Which is not to say the market will not immediately reverse and make a lower low. I don't know, and that is just it. My swing trade decision matrix still hasn't given me a buy to go long yet, and until it does, I may consider retaking a short position if a playable pattern sets up. BTW, (for newbies) it is good practice to document each trade, for review and learning.

Thanks for the post rhight. Very informative!

[wayne0708]

Cobra:
You usually mention that all bulls need is just an imagination. So, it's never too stretched for a bull trend, at least not today, correct?

[BullBear52x]

I am bear now, sell, stop 113.5

[stucap]

I am bear now, sell, stop 113.5

i like that trade --- 5 min ES testing the VWAP --- bulls aren't looking overly "greedy"

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/10/copper_05.html
Crude http://99ercharts.blogspot.com/2011/10/crude_05.html
30-Year http://99ercharts.blogspot.com/2011/10/30y_05.html

[Al_Dente]

bullish internals
annotated
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889

[jason_70]

still too stretched.

I closed my longs frm yest.

All i can say is that the price-volume action is not matching with loooooooooots of stuff. I am not really trusting this rally. We have moved up nearly 60 points from the low on ES and NONE of the indicators that i use have even budged a little. May be because of the velocity of this move, they will take time. Which kind of leads me to believe that we will have another leg down before doing anything else.

J

[BullBear52x]

I am bear now, sell, stop 113.5

i like that trade --- 5 min ES testing the VWAP --- bulls aren't looking overly "greedy"

at this juncture is my definition of sell the rip. good risk/reward zone.