03/24/2011 Intraday Watering

[BullBear52x]

stopped out at breakeven, not the bears time yet unless there's a huge end of day reversal, but not willing to be short anymore unless key levels (1284 currently) are broken. Will not go long yet.

Can't fight them join them. Tight stop is a must. went long SSO 51.3 now move a stop to 51.50 this is my second half already. if SSO got stop out before noon, I am moving on to 3rd Quarter if not just let it runs and take profit end of day. Cash is King, live to fight anoter day. SSO now is hit a resistance at 78.6%FIB 51.69.see high volume here.

[99er]

SPX
Time to buckle up?
http://99ercharts.blogspot.com/2011/03/spx_4816.html

[Simsonic]

Today's range estimate is 1294-1311. I now think it is likely that the cash S&P close above 1305 within the next few days. Such a close would mean that the cash low of 1249 will hold and that the market is headed for new bull market highs.

Carl Futia?

Yes! Good call. That is what he thinks, and I tend to agree. We are going to 1500 on the SPX.

[BullBear52x]

SSO stop is at 51.60

[zombiebraingoo]

Today's range estimate is 1294-1311. I now think it is likely that the cash S&P close above 1305 within the next few days. Such a close would mean that the cash low of 1249 will hold and that the market is headed for new bull market highs.

Carl Futia?

plagarism is a sin - time for confession!

[Cobra]

A little consolidation before breakout is good for bulls.

[BullBear52x]

No fears

[BullBear52x]

Today's range estimate is 1294-1311. I now think it is likely that the cash S&P close above 1305 within the next few days. Such a close would mean that the cash low of 1249 will hold and that the market is headed for new bull market highs.

Carl Futia?

plagarism is a sin - time for confession!

[Cobra]

Bigger picture, still testing the overhead resistance. It's a gap resistance.

[dr659]

Bigger picture, still testing the overhead resistance. It's a gap resistance.

Sentimentrader shows short term overbought

[foxytrader]

Bigger picture, still testing the overhead resistance. It's a gap resistance.

nice chart!
I am going to short spy around that area.

[koolblue]

1303 poses stiff resistance, but im thinking we eventually get thru it ...and higher. That would likely compltete wave one from the 1241 low and yield a 38% retracement from where ever the top occurs(1311?)...

[uempel]

I posted this chart early morning in Cobra's blog, a few hours later nothing has changed. Upside resistance 1308 seems to hold, is resistance 1315 for Friday?

[BullBear52x]

SSO stop now at 51.65

[99er]

SPX
Looks set to start keeling over.
http://99ercharts.blogspot.com/2011/03/spx_6638.html

[uempel]

1303 poses stiff resistance, but im thinking we eventually get thru it ...and higher. That would likely compltete wave one from the 1241 low and yield a 38% retracement from where ever the top occurs(1311?)...

Yeah, ES 1311 is about SPX 1314, but it could be tomorrow.

[foxytrader]

I posted this chart early morning in Cobra's blog, a few hours later nothing has changed. Upside resistance 1308 seems to hold, is resistance 1315 for Friday?

HYPO2.png

Thank you! Let's watch it closely.

[foxytrader]

SPX
Looks set to start keeling over.
http://99ercharts.blogspot.com/2011/03/spx_6638.html

Thank you! You guys are really awesome!

[BullBear52x]

SPY now trades right on 78.6% 130.76

[Cobra]

A little overshot, so could be a pullback of some kind here.