03/25/2011 Intraday Watering

[99er]

Cobra: "Now the direction is gone, so forget about it."

Funny...I never see these weird candles on Think or Swim but if they had "meaning," I would certainly subscribe to Stock Charts!

[KENA]

Cobra with things looking toppy it may happen.

[Cobra]

Uempel cannot login now, here's his last chart:

[Fritz Baxter]

Big volume sell candle on the Q's
Maybe everyone is heading to the Hamptons for the weekend.

[greenback]

The Federal Reserve should hike interest rates from current range near zero to 2.5% within a year under a plan unveiled Friday by Charles Plosser, the president of the Philadelphia Federal Reserve Bank. Plosser did not give a specific time when this exit would begin but said it would have to start in the "not-too-distant future." In a speech to economists from the monetarist school on Friday, Plosser laid out an aggressive plan where the Fed would sell $125 billion of assets for each 25 basis point increase in the funds rate. A slower approach could last 18 months rather than a year, he said. This would require only $67 billion of conditional sales between meetings but the funds rate would rise to 3.5%. Plosser, a voting FOMC member this year, said he did not think this strategy would disrupt markets.

[pdz]

The p-bar still shows on my IB chart.

[99er]

SPX
I'm not a wave counter but if we see an impulse wave here...
http://99ercharts.blogspot.com/2011/03/spx_8322.html
Well...

[Tabby]

What is P bar?

Parabolic sar overlay?

BTW, $VIX is creeping up again and UUP ( U$D) is going up.

[Travelfrog]

What is P bar?

Parabolic sar overlay?

BTW, $VIX is creeping up again and UUP ( U$D) is going up.

I assume P bar is phantom bar.

[Cobra]

trend line support here. I still think we'll see a little bigger pullback today.

[Fritz Baxter]

The Federal Reserve should hike interest rates from current range near zero to 2.5% within a year under a plan unveiled Friday by Charles Plosser, the president of the Philadelphia Federal Reserve Bank. Plosser did not give a specific time when this exit would begin but said it would have to start in the "not-too-distant future." In a speech to economists from the monetarist school on Friday, Plosser laid out an aggressive plan where the Fed would sell $125 billion of assets for each 25 basis point increase in the funds rate. A slower approach could last 18 months rather than a year, he said. This would require only $67 billion of conditional sales between meetings but the funds rate would rise to 3.5%. Plosser, a voting FOMC member this year, said he did not think this strategy would disrupt markets.

Dollar getting stronger, maybe the Plosser idea of what used to be known as "sound monetary policy" might take hold, i.e., no QE3

[foxytrader]

short SPY @131.63.
Thanks everyone! See you next week, you all have a great weekend!

[silverharp]

on Spx futures 1314.50 was the .786 from the high on the 4th Mar.

[Cobra]

another trend line support, this one should be a little tough, let's see.

[zombiebraingoo]

sh rt term its all about the USD - anyone have any analysis on that pesky paper demon?

[silverharp]

Per ealier comment about 786

[zombiebraingoo]

bulls need a close above 1307 which doesnt look like a problem at this point

[Travelfrog]

Per ealier comment about 786

Silverharp, what is the channel that you are using?

[silverharp]

Per ealier comment about 786

Silverharp, what is the channel that you are using?

just my chart on the wrong timeframe , its my intraday chart which is set to 5min with a series of envelopes but they bunch up on a 1hr timeframe

[mylock]

I have been silently following you guys. Great forum cobra and I appreciate it. New at this so learning a lot from everyone. I think the top is in for the day and pullback has commenced.