01/06/2012 Intraday Watering

[newbie_77]

good morning/afternoon.. everyone.. been away for a while.. back to see all the great posting....


here we go ... bull attack

[Al_Dente]

5 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[newbie_77]

Xman happy new year and how r u?

so you are being bull or bear right now?

Damned topedoes. Bulls speed ahead.

Update

VIX http://99ercharts.blogspot.com/2012/01/vix.html

Fireworks ahead.

[SB73]

Probably close just barely in the green that way Cobra can't say that NFP could be down however many times in a row it is.

[StrikePrice]

Primary Count Wave 5 Ending Diagonal. Boy they all seem to end this way lately. No reason it can't reach above 1,300 before we get that larger correction all the Bears here hope for. Wouldn't be surprised if we then make a 3-3-5 Flat with the 5 around OE since that has often produced the short-term low (it did in Dec & Nov at least). I'll trade that pattern until it doesn't work because it's making me

[laoguo]

Come on. Nobody is perfect neither is Cobra. Market is a bitch you never know where it heads...you know... ok, I start to laugh, too

Probably close just barely in the green that way Cobra can't say that NFP could be down however many times in a row it is.

[99er]

Update

RUT http://99ercharts.blogspot.com/2012/01/rut_06.html

Hanging Man.

[johnnywa]

Can't push her down push her back up ,least path of resistance today.Watching 1287 close today,in the middle of resistance/support and just under 12500 breakout zone....so all weekend it will keep everyone guessing

[BullBear52x]

Truncate W5, here what will play out. either ways down Money or Tuesday lower than current level.

[laoguo]

OK, enough is enough. If SPY closes HOD; I will short it to the hell.

[Cobra]

I'm clueless about the market now, so not much comment today. looks like it's wrong to NOT expect sharp reversal, so I keep my mouth shut here. Anyway, key time because this is to test the previous high so no failure allowed.

[99er]

Update

ES http://99ercharts.blogspot.com/2012/01/es_1583.html

Last call.

[keesa]

BULL TRAP

I can smell it also. look at EEM normally it will rally right along.

Baron:
TRIN 1.35
Note how it did not drop below 1 during this “rally”
It drives me nuts
http://stockcharts.com/h-sc/ui?s=$TRIN& ... =249247714

what rally? ES only +3.

[SB73]

I'm clueless about the market now, so not much comment today. looks like it's wrong to NOT expect sharp reversal, so I keep my mouth shut here. Anyway, key time because this is to test the previous high so no failure allowed.

Cobra,

Does it seem normal that the market has yet to make a higher high from Monday's gap?

[CH37]

I'm clueless about the market now, so not much comment today. looks like it's wrong to NOT expect sharp reversal, so I keep my mouth shut here. Anyway, key time because this is to test the previous high so no failure allowed.

looks like it's wrong to NOT expect sharp reversal,???

do you mean today will copy yesterday the reversal pattern ? thanks.

[SB73]

Stopped out...made $100, but most importantly kept me from shorting

Gabor,

Notice I said I will not short due to price action. I see no reason to short yet. These are actually not bad days to get long and play pennies because the bulls will defend this little uptrend like everything depended on it. Went long at 127.71 with stop now at 127.88. Can't make a whole lot, but it is better than nothing.

*Like*

I see a lot of reasons to short other than price. Price and I emphasize price keeps me from shorting this bad boy other than my morning scalp. Unless we break below today's low nothing will change for me.

Ignoring the fundamental jibberish
1- Bearish sentiment too low
2- Reversal of a reversal of a reversal of a reversal.....
3- Bearish seasonality today and Monday
4- Divergences on the hourly charts
5- Strong dollar
6- SPY decoupling from world indicies

Based on the last 10 years it looks like a relatively flat close similar to yesterday with a minor gap up on Monday.

These are all true and I agree with you. But what can you achieve with your short, when the prices are inching up and up and up. Loosing money. Everybody scandals the MARKET is always right. NO. Geroge Soros says the maret is very often wrong just like people who trade the market. If the market was always right, it would tend toward equilibrium, instead, bubbles are frequently created and then popped. MARKET is almost always wrong, now US equities are overpriced....but they can be overpriced more.

[Cobra]

I'm clueless about the market now, so not much comment today. looks like it's wrong to NOT expect sharp reversal, so I keep my mouth shut here. Anyway, key time because this is to test the previous high so no failure allowed.

Cobra,

Does it seem normal that the market has yet to make a higher high from Monday's gap?

you can consider it as consolidation

[BullBear52x]

http://www.youtube.com/user/RhemaMarvan ... eature=pyv

[Cobra]

I'm clueless about the market now, so not much comment today. looks like it's wrong to NOT expect sharp reversal, so I keep my mouth shut here. Anyway, key time because this is to test the previous high so no failure allowed.

looks like it's wrong to NOT expect sharp reversal,???

do you mean today will copy yesterday the reversal pattern ? thanks.

I still don't believe we'll copy the previous 2 days, but since so far the market doesn't agree with me, so I'll shut up for now.

[johnnywa]

Oops we just pooped,is that cause lunch