12/21/2011 Intraday Watering

[BullBear52x]

1 min internals
VIX acting like a crazy person again today
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

PLEASE NOTE: I’m testing a new TICK guideline setting here. It’s designed to ignore flags and little corrections, and only cross the zero line at or near a “trend change.” It is unavoidable however, that it will cross on large opening gaps and fake-out spikes. On a choppy day it should hug the zero line and tell us that according to the tick it is a choppy/directionless market day. We have yet to see how and when it lags. If you’d like to keep the old tick guideline the setting was EMA ENVELOPE 50/2.5. This new tick guideline is a TEST ONLY, please don’t trust it yet. (this is the one that Baron von PitBull calls “beating a dead horse”).
Finally, a quick note of TICK trivia: I always have a very thin pink line at tick +600 and tick -600. This is based on the notion that anything inbetween tick +/- 600 is just noise, and the significant tick moves are either above +600 or below -600. I learned that long ago and sorry I don’t remember my source on that one, but I’ve found it to be pretty much true.

Thanks Dr. Al, you know why I used 89 and 144 it's Fib sequence number also.

[Al_Dente]

Hey Al!...We missed you!

Thanks cougar
Please post your VIX chart when u have a minute

antique swingers alert: http://www.youtube.com/watch?v=tA-9dGOy ... re=related

[Cobra]

support.

[stucap]

support.

chances of it breaking? are we looking bullish or bearish on the charts....

i'm skeptical of the bears chances here....

[Me XMan]

I think /ES 1229 is a weak support. Maybe 1202 better.

support.

[waverider]

/es is at the 38.2% retracement from monday's low

[stucap]

/es is at the 38.2% retracement from monday's low

which also lines up with cobra's support.....not good for bears.....

[r0wr]

doesn't seem as if we are going to hit 12/19's low

[cougar]

DAX is now going up.
Its best proxy, SI (Siemens), hit support at 94 and bouncing.

[stucap]

GM, below yellow line I think Santa will have a hard time to continue his journey .

Bottom of your yellow is what on SPY?

Target the next lower yellow

I meant is it 123.55 SPY or 123.25? Just want to know what your support level is.....hard to see on chart.

123.5 past that now, next is 122 -121.5ish below that I will be greedy to 116

Back above.

[Al_Dente]

PLEASE NOTE: I’m testing a new TICK guideline setting here. It’s designed to ignore flags and little corrections, and only cross the zero line at or near a “trend change.” It is unavoidable however, that it will cross on large opening gaps and fake-out spikes. On a choppy day it should hug the zero line and tell us that according to the tick it is a choppy/directionless market day. We have yet to see how and when it lags. If you’d like to keep the old tick guideline the setting was EMA ENVELOPE 50/2.5. This new tick guideline is a TEST ONLY, please don’t trust it yet. (this is the one that Baron von PitBull calls “beating a dead horse”).
Finally, a quick note of TICK trivia: I always have a very thin pink line at tick +600 and tick -600. This is based on the notion that anything inbetween tick +/- 600 is just noise, and the significant tick moves are either above +600 or below -600. I learned that long ago and sorry I don’t remember my source on that one, but I’ve found it to be pretty much true.

Thanks Dr. Al, you know why I used 89 and 144 it's Fib sequence number also.

Thanks for that, of course, fib
When I watched your tick guideline setting ema env 89/2.5 against mine 50/2.5 VERY little difference.
Anyway I’m trying this new one to avoid whips and corrections …we’ll see
BTW: did u screw up the internals while I was gone? They want bull while spy is underwater.

Here’s 13 days
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250913458

[CognitiveDissonance]

Gotta give up on VIX. It's not accurate anymore.

1 min internals
VIX acting like a crazy person again today
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

PLEASE NOTE: I’m testing a new TICK guideline setting here. It’s designed to ignore flags and little corrections, and only cross the zero line at or near a “trend change.” It is unavoidable however, that it will cross on large opening gaps and fake-out spikes. On a choppy day it should hug the zero line and tell us that according to the tick it is a choppy/directionless market day. We have yet to see how and when it lags. If you’d like to keep the old tick guideline the setting was EMA ENVELOPE 50/2.5. This new tick guideline is a TEST ONLY, please don’t trust it yet. (this is the one that Baron von PitBull calls “beating a dead horse”).
Finally, a quick note of TICK trivia: I always have a very thin pink line at tick +600 and tick -600. This is based on the notion that anything inbetween tick +/- 600 is just noise, and the significant tick moves are either above +600 or below -600. I learned that long ago and sorry I don’t remember my source on that one, but I’ve found it to be pretty much true.

Not trying to sound like a know-it-all but....1. VIX options expire Friday so it becomes much less sensitive 2. VIX does indirectly measure fear. Notice near the end of close on Mon how the VIX popped up ? At that same time the USD pierced through resistance and RUT fell below support, that got a reaction from the VIX. But, overall, there isn't much fear in the market right now. So, it's not that the VIX isn't accurate, it's just that the market isn't as scared at the moment. Right now, the VIX won't necessarily behave the way it did after July, it's also under heavy resistance on nearly all time frames.

Of course, I could be wrong, but technicals aren't calling for a big drop at this point as we're staying above the 1187, 1200, 1220 pivots. Just my two cents of what little I know

On a different note, COBRA, thanks for the great board and the nightly reports, they're awesome!

[Cobra]

support.

chances of it breaking? are we looking bullish or bearish on the charts....

i'm skeptical of the bears chances here....

bullish biased, it's rare the push up was just one legged.

[Al_Dente]

Also, 30 of the Dow 30 had a “corey cross” yesterday, that’s a favorite 50/200ma bull cross on the 5 minute that “normally” is good for a few days trend…

[Cobra]

Gotta give up on VIX. It's not accurate anymore.

1 min internals
VIX acting like a crazy person again today
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

PLEASE NOTE: I’m testing a new TICK guideline setting here. It’s designed to ignore flags and little corrections, and only cross the zero line at or near a “trend change.” It is unavoidable however, that it will cross on large opening gaps and fake-out spikes. On a choppy day it should hug the zero line and tell us that according to the tick it is a choppy/directionless market day. We have yet to see how and when it lags. If you’d like to keep the old tick guideline the setting was EMA ENVELOPE 50/2.5. This new tick guideline is a TEST ONLY, please don’t trust it yet. (this is the one that Baron von PitBull calls “beating a dead horse”).
Finally, a quick note of TICK trivia: I always have a very thin pink line at tick +600 and tick -600. This is based on the notion that anything inbetween tick +/- 600 is just noise, and the significant tick moves are either above +600 or below -600. I learned that long ago and sorry I don’t remember my source on that one, but I’ve found it to be pretty much true.

Not trying to sound like a know-it-all but....1. VIX options expire Friday so it becomes much less sensitive 2. VIX does indirectly measure fear. Notice near the end of close on Mon how the VIX popped up ? At that same time the USD pierced through resistance and RUT fell below support, that got a reaction from the VIX. But, overall, there isn't much fear in the market right now. So, it's not that the VIX isn't accurate, it's just that the market isn't as scared at the moment. Right now, the VIX won't necessarily behave the way it did after July, it's also under heavy resistance on nearly all time frames.

Of course, I could be wrong, but technicals aren't calling for a big drop at this point as we're staying above the 1187, 1200, 1220 pivots. Just my two cents of what little I know

On a different note, COBRA, thanks for the great board and the nightly reports, they're awesome!

Thanks, and I agree, there's no fear here and it might last awhile.

[99er]

Update

AUDJPY http://99ercharts.blogspot.com/2011/12/audjpy_21.html

Risk off.

[TWT]

SPX: with five down I expect at least one more down leg

[johnnywa]

Phooey burning off overbought condition

[bullybear]

Looks like it going to be one of those days

[Al_Dente]

Gotta give up on VIX. It's not accurate anymore.

Finally, a quick note of TICK trivia: I always have a very thin pink line at tick +600 and tick -600. This is based on the notion that anything inbetween tick +/- 600 is just noise, and the significant tick moves are either above +600 or below -600. I learned that long ago and sorry I don’t remember my source on that one, but I’ve found it to be pretty much true.

Not trying to sound like a know-it-all but....1. VIX options expire Friday so it becomes much less sensitive 2. VIX does indirectly measure fear. Notice near the end of close on Mon how the VIX popped up ? At that same time the USD pierced through resistance and RUT fell below support, that got a reaction from the VIX. But, overall, there isn't much fear in the market right now. So, it's not that the VIX isn't accurate, it's just that the market isn't as scared at the moment. Right now, the VIX won't necessarily behave the way it did after July, it's also under heavy resistance on nearly all time frames.
Of course, I could be wrong, but technicals aren't calling for a big drop at this point as we're staying above the 1187, 1200, 1220 pivots. Just ...

Thanks, good point, especially """but technicals aren't calling for a big drop at this point"""