10/25/2011 Intraday Watering

[jarbo456]

big green bar...must be lunch time. -_-

[stockcycle]

Seems a continuous strong EUR doesn't support Bears. May be only day-trading Bears can win?

[99er]

SPX
http://99ercharts.blogspot.com/2011/10/spx_2362.html

"Beep beep."

[StrikePrice]

So much for a Zig-Zag. Looks like a Triangle. That sux, could go either way.

[tdo722]

SPX
http://99ercharts.blogspot.com/2011/10/spx_2362.html

"Beep beep."

U need to put some labels on your chart please. Okay so it's downtrend, but very hard to read your chart.

[Mr. BachNut]

The vix divergence bothers me. I have been looking for a lower low or at least a more convincing double bottom to go with a top. This rally still has some unfinished business IMO, but the market can do what it wants.

Check out the VIX (I like using a line chart) and compare the recent 10/14 & 10/24 swing with 7/8 & 7/22 swing with an RSI Indicator. Maybe that will make your Bear suit a little more cozy.

I see it, but in July, the S&P made a lower high while the VIX made a higher low (consistent). So far last few days, S&P has made a higher high but VIX has refused to make lower low (inconsistent). So a bear suit may already be in fashion with this divergence as the tell. But given Friday's and yesterday's strength, I think the setup would be tighter with a failed test of yesterday's top or a double top of some kind.

I think my point is not Bull or Bear. It is just that there is something about the S&P and VIX charts that doesn't look complete yet to ring the bell on this move.

[bushwaffle]

SPX
http://99ercharts.blogspot.com/2011/10/spx_2362.html

"Beep beep."

U need to put some labels on your chart please. Okay so it's downtrend, but very hard to read your chart.

The dotted lines are the key

[Richarab]

The vix divergence bothers me. I have been looking for a lower low or at least a more convincing double bottom to go with a top. This rally still has some unfinished business IMO, but the market can do what it wants.

Check out the VIX (I like using a line chart) and compare the recent 10/14 & 10/24 swing with 7/8 & 7/22 swing with an RSI Indicator. Maybe that will make your Bear suit a little more cozy.

I see it, but in July, the S&P made a lower high while the VIX made a higher low (consistent). So far last few days, S&P has made a higher high but VIX has refused to make lower low (inconsistent). So a bear suit may already be in fashion with this divergence as the tell. But given Friday's and yesterday's strength, I think the setup would be tighter with a failed test of yesterday's top or a double top of some kind.

I think my point is not Bull or Bear. It is just that there is something about the S&P and VIX charts that doesn't look complete yet to ring the bell on this move.

agreed

[Richarab]

by the way. gold is delirious. does it smell the printing presses? looks like it just got over 1700 /GC...

[bushwaffle]

http://www.reverbnation.com/eplay/artist_863454

If you guys get bored, hop over for a minute and check out my songs. "Reality" is the one I just finished.

[zhyuan04]

Why both GOLD and Oil are up big while market is in red? Anybody has any idea?

[soku]

damn, the whipsaw is killing.
es is forming a potential hs. neck is around 1230-1232. this area has to hold or it will crash immediately. 1236-1238 is roughly 50% of today's range. it serves as the mid point for now.

my evil plan: go up to 1245 to trap the bulls then dip to 1235 for the next determination.

es took 1238 in strong case. my plan may play out. the key here is to take 1242 asap

[waverider]

PAGING WAVY
Thanks for “junk”…oooooooo…. must study later…
Keep eye on NYDEC 2360…but must see SH reach new bear hi… bye 4 today…good luck 2 u and all

Thanks Al, gold just sliced through 1700! Looks like no resistance for a bit now? Just went long DGP @ 57. Good luck to you as well.

[TWJ]

Alternate Count to the one posted earlier, more Bearish, putting us currently in Wave 3 of A that appears to be a Zig Zag. We may complete the whole 5 Wave down and start the 3 Wave B later today at the rate this has been moving.

My count is in sync with you... It is hard to go short just yet!

[Richarab]

PAGING WAVY
Thanks for “junk”…oooooooo…. must study later…
Keep eye on NYDEC 2360…but must see SH reach new bear hi… bye 4 today…good luck 2 u and all

Thanks Al, gold just sliced through 1700! Looks like no resistance for a bit now? Just went long DGP @ 57. Good luck to you as well.

thanks

[mozart]

I think that this market is ready to rumble, short positions are on decline, e.g.SPY,SLV,GLD, smart money exited while back.
If market was to drop, there would be increase in short positions, and since every one is talking about possible major pull back here, usually oposite happen.
Just to many people on one side.
We could be in for month's of uptrend here, if not longer.
Just another opinion!

[L_T]

OK good. I use free Stockcharts, that Forexpro realtime charts someone pointed out, or whatever works the best for the time. I need to pony up the dough for Stockcharts but anyway......
From what I can see FCX hasn't been "contained" by the 34 EMA or it's closest pivot point like JJC has, but that just happened these past couple of days. Going the other extreme on a multi-year chart (I know that kills you but bear with me ha ha) it looks like it's in the mid point of a range it's been in since 2009, however it's again "contained" by it's 13/34 moving averages. What does that mean? You got me! I just like FCX for the long haul and always find the discussion around copper and it's ability to show you the market direction is all. Thanks for your input.

PAGING L_T
The FCX point is …. WE’RE STILL WORKING ON THE DANG POINT…. what platform r u on?
After the correlation party I thought, maybe not so accurate, as EVERYTHING correlates these days, so, abandoned corr, and went to PERFORMANCE overlay charts on daily, then stretched out to weekly, then back to intraday 15 min, to see whom/what we could trust…. did u do any of those?….what did u see?
Can u bring something to the party? Otherwise I gotta wait for my FCX party-girlfriend Michelle
Am sure you are fine and handsome man…. but still…. u just a dude…just joking gotta run 4 today

[pady]

So much for a Zig-Zag. Looks like a Triangle. That sux, could go either way.

Just got back to my desk and had same thought "crap triangle" !!! Thinking we have one more high above 1260...

[soku]

losing steam. i close my longs and go to sleep. good luck guys

[Cobra]

still nothing to say. a range day with a little bullish bias.