10/13/2011 Intraday Watering

[Petsamo]

Bulls WERE looking good, then oops!
I felt compelled to snag some JPM, so I did, well above the lows though.

[KENA]

Bears don't give up we are in the dn zone and even if the mkt goes up to test the hi's(1215 area) as Cobra says we will most likely will do then expect a good dn trend.All the leaders are up to there res or just about.We will just wait and see.Maybe today was the test and failed.Who knows.

[billow]

Check IWM 2 days, 15 m chart with BBEMA, tell me what it looks like, lol

[endoal]

New to board but have watched for awhile. Great group and lots of good info.
Thought I'd toss in one chart pattern that seems to some consistency.
If you look at the $SPX 5min with 50 and 200 SMA the crossovers often lead the upcoming trend.
Some are very short lived
A downward crossover occurred today.
Not a silver bullet but maybe just another in the clip to help guide decisions.

[Cobra]

Cobra, is it the case you are bullish in the context that we should test the highs again today/tomorrow and then going short.
You just don't want it to go down prematurely before you have time to load up?

Myself, 1220 looked so good!

need see more signals after bell. Today's low will sure be revisited in the next couple of days based on statistics.

[simpletrader]

looks like we have two reversed daily bar at the top, will retest high tomorrow and reverse again?

[Cobra]

New to board but have watched for awhile. Great group and lots of good info.
Thought I'd toss in one chart pattern that seems to some consistency.
If you look at the $SPX 5min with 50 and 200 SMA the crossovers often lead the upcoming trend.
Some are very short lived
A downward crossover occurred today.
Not a silver bullet but maybe just another in the clip to help guide decisions.

Thanks and welcome aboard!

[99er]

Updates

SPX http://99ercharts.blogspot.com/2011/10/spx_13.html
RUT http://99ercharts.blogspot.com/2011/10/rut_13.html
ES http://99ercharts.blogspot.com/2011/10/es_13.html

Most boring day ever?

[wayne0708]

3-min chart looks like H&S forming?

[jarbo456]

don't know why the bulls are so worried. even now, with the huge dump at the end of the day, the bears can't even get blow the 200MA on the 5 minute spy. and they just spent the last 20 minutes trying.

it's fair warning if someone makes a huge dump like that at the end of the day, even two days in a row, but as of now, i'm still much more worried about my shorts. we haven't even broken down below 120 since this morning, nor have we even touched 118.67 which i see as the min target for a trend change. even if 118.67 is taken, it could simply be interpreted as a healthy correction to the last 7 days of bullish run.

something far below that, probably around 116 would be needed to confirm a potential trend change to wrest control from the bulls who just ran us up over 16 handles from last Tuesday's low.

so as of now, i have to eye the recent high of 122.14 as where we're heading next - and my shorts will just have to wait patiently.

[spuderik]

New to board but have watched for awhile. Great group and lots of good info.
Thought I'd toss in one chart pattern that seems to some consistency.
If you look at the $SPX 5min with 50 and 200 SMA the crossovers often lead the upcoming trend.
Some are very short lived
A downward crossover occurred today.
Not a silver bullet but maybe just another in the clip to help guide decisions.

That is a solid first post. Nice contribution.

[Petsamo]

Updates

SPX http://99ercharts.blogspot.com/2011/10/spx_13.html
RUT http://99ercharts.blogspot.com/2011/10/rut_13.html
ES http://99ercharts.blogspot.com/2011/10/es_13.html

Most boring day ever?

Not for me, I made some money overnight & today!

[Cobra]

well, guess that's it for today. still likely yesterday's high will be revisited but also today's low will be revisited. the question is which one first. No idea yet, need dig more. thanks ladies and guys, I'll see you tomorrow.

[AK84]

cobra

red hollow reversal bar on spy . i like it for a huge gap down tom
do u ?

[seekingknowledge]

New to board but have watched for awhile. Great group and lots of good info.
Thought I'd toss in one chart pattern that seems to some consistency.
If you look at the $SPX 5min with 50 and 200 SMA the crossovers often lead the upcoming trend.
Some are very short lived
A downward crossover occurred today.
Not a silver bullet but maybe just another in the clip to help guide decisions.

Totally agree about the 50 and 200SMA as another bow in the quiver. Been watching this myself on the Russell ... hasn't happened yet.

[seekingknowledge]

well, guess that's it for today. still likely yesterday's high will be revisited but also today's low will be revisited. the question is which one first. No idea yet, need dig more. thanks ladies and guys, I'll see you tomorrow.

Thanks, Cobra! Great job -- as always!!

[SB73]

stick save...keeping some powder dry for further retest of the high

[Cobra]

cobra

red hollow reversal bar on spy . i like it for a huge gap down tom
do u ?

doesn't mean gap down but certainly some chances of reversal.

[silicon_beaver]

GOOG up +20 point AH.

[txsky]

Today's market looks like 09/19. I have no idea what GOOG ER would be.
Thank you so much, cobra!