11/18/2011 Intraday Watering

[tdo722]

1 more candle outside the uptrend line since 12:05PM on the RUT and I am in TZA no questions asked.

[Cobra]

target. I don't believe the target yet because today is OE, the last 30 min anything could happen.

[cougar]

QQQ today:

[tdo722]

Wow, thank god I waited, the damn RUT went back inside the up channel from 12:05PM. haha...

[Cobra]

consolidation above support is generally not good. I know nowadays everyone knows to buy at consolidation no matter it's bear flag or bull flag, any consolidation means up, but I still have to respect the normal cases: a consolidation above support GENERALLY is not a good sign. It acts like a spring and will burst at anytime and chances are it'd be on the downside.

[CognitiveDissonance]

Wow, thank god I waited, the damn RUT went back inside the up channel from 12:05PM. haha...

tdo, please don't take this the wrong way, as I'm in no way a pro at this, but sometimes you're my contra indicator

[StrikePrice]

IWM

I have tried .... but I cannot find a way to label impulsive down side.

Maybe an Ending Diagonal wave (C) of (B) could be completed by Thanksgiving

Yes, I think so. So it should be a 3-3-3-3-3.

[Petsamo]

A red candlestick with a lower low would be nice

[fibo618]

consolidation above support is generally not good. I know nowadays everyone knows to buy at consolidation no matter it's bear flag or bull flag, any consolidation means up, but I still have to respect the normal cases: a consolidation above support GENERALLY is not a good sign. It acts like a spring and will burst at anytime and chances are it'd be on the downside.

Let the gods bless cobra... for saying "downside"...

[waverider]

1 more candle outside the uptrend line since 12:05PM on the RUT and I am in TZA no questions asked.

It's not a good idea to trade in the middle of a range, it's hard to do psychologically, but you want to enter long/short near yhod/ylow.

[cougar]

QQQ today:

Sorry for the displaced FAN Lines…They are imperfections due to a “graphic parallax effect“, when the origin of the Fan gets out of the charted time zone.

[99er]

Tabby

The piece about Congress' inability to balance the budget, particularly with the "Super Committee" report due next week on how they plan to reduce the current budget (expected to be an epic fail), demonstrates that our crisis is not only financial in nature but political as well. That 60 Minutes and Throw Them All Out highlight possible criminal conduct further adds fuel to the fire. That's why I consider our House to be comprised of crooks and clowns. Nothing personal, mind you; I spent the first two years out of college working on Capitol Hill. If I only knew then....

By the way, there are clowns in Europe too.

http://globaleconomicanalysis.blogspot. ... r-can.html

[StrikePrice]

Bollinger Bands have squeezed pretty tight. We don't pop in last 1/2 hour than Sunday I'm sure will gives us a big gap on Monday.

[Mongoose]

Cobra -- have you ever heard of a "left translated cycle"?

Do you think the market may be in one now, or in the process of forming one?

I was doing some reading about it, and from what I could understand, it seemed to suggest an explanation as to why your "prediction" that the August lows would be broken lower, and that it might take a few months to express that . . . I thought that was very interesting to compare.

If you have any thoughts on that, it would be appreciated. thx.

never heard that.

I am an economist, not a TA expert, however, if I understand the explanation of the cycle, since the S&P 500 support level was broken yesterday, then the cycle bottom is expected within the next 5-7 days -- which I understand to be lower than 1080.
I thought it was interesting to see one theory express a similar theory from different view points.

As an economist I see liquidity drying up faster than water in Death Valley -- building up to levels just prior to the financial crisis and the market collapse. (even during that time the equity markets were ignoring the rising risks.) Banks are highly sensitive to lending to each other, and they are reducing their lending to emerging markets while they hastily try to recapitalize. So, I am short banks/financials and emerging markets.
I also see that the bond market is beginning to price in deflation for an extended period of time in various countries -- in particular take a look at Italian bond yields.
20% of S&P earnings come from Europe -- at some point, the market will have to acknowledge that.

Any cash I keep it in USD vs any other currency.

Thanks Cobra - have a nice weekend.

[Apple]

Tabby

The piece about Congress' inability to balance the budget, particularly with the "Super Committee" report due next week on how they plan to reduce the current budget (expected to be an epic fail), demonstrates that our crisis is not only financial in nature but political as well. That 60 Minutes and Throw Them All Out highlight possible criminal conduct further adds fuel to the fire. That's why I consider our House to be comprised of crooks and clowns. Nothing personal, mind you; I spent the first two years out of college working on Capitol Hill. If I only knew then....

What an amazing mix of folks here. From politics to butterfly collector

[cougar]

99er: RIGHT!

[fehro]

looks like the markets are giving us the usual "Flat Friday"..... mind you the last 30 minutes could be interesting..
on a side note.... $RUT... looks prime for a gap down on Monday..

[99er]

Apple

And an international banker to boot. But don't you dare tell anyone!

[tdo722]

Wow, thank god I waited, the damn RUT went back inside the up channel from 12:05PM. haha...

tdo, please don't take this the wrong way, as I'm in no way a pro at this, but sometimes you're my contra indicator

which is good because i'm a very bad trader.

[xfradnex]

If we close above current low then we have higher daily low after multiple days down= high prob of higher low next day.