01/24/2012 Intraday Watering

[TraderGirl]

You can see what happened to Silver during the FOMC meeting on September 21, 2011.

I don't think they will announce or even suggest a QE3 on Wednesday, next week.

So keep going up silver, until Wednesday at noon next week.

Nice work proteus, there is a turn day for silver on the 23rd which could take until the 24th, so we will see what happens then....

Silver down today on turn day, could follow the market, another turn date for silver on Feb 6th (+/- 3 days), could be in a trough by then...

[SB73]

Cobra,

Can you comment on Apple. Looks toppy to me...could lead the Nasdaq lower?

[waverider]

NYSE Floor Governor would call him and BEG him not to go on TV with any of his calls (his calls would move mkts back then….also some LOUSY bad calls that went awry)

Santana, live, 1971 http://www.youtube.com/watch?v=q3XSXvas ... creen&NR=1[/quote]

Haha, it's funny how the market used to react that way (I wasn't around so wouldn't know). Excellent tube choice BTW.

http://www.youtube.com/watch?v=ItfCtl29eUI

[BullTart]

3PM buy program being pulled out and being readied for activation in a little over 10 minutes.

So obvious it's hilarious

[Cobra]

probably this line is why we don't see a clear breakout, still it's a wait game.

[juankim]

You can see what happened to Silver during the FOMC meeting on September 21, 2011.

I don't think they will announce or even suggest a QE3 on Wednesday, next week.

So keep going up silver, until Wednesday at noon next week.

Nice work proteus, there is a turn day for silver on the 23rd which could take until the 24th, so we will see what happens then....

Silver down today on turn day, could follow the market, another turn date for silver on Feb 6th (+/- 3 days), could be in a trough by then...

TraderGirl,

Many thanks for the turndates/cycles info. Just curious how you come upon these turndates for different asset classes... method to the 'madness' so to speak

Been recently getting interested in the cyclical aspects of the market (Bradley, Armstrong, etc), so just trying to expand my knowledge in the space.

Much thanks!

[SB73]

probably this line is why we don't see a clear breakout, still it's a wait game.

So descending triangle instead of ascending triangle. Have not made a trade in hours...or really even considered one.

[TWT]

AAPL: No idea of the long term count, but maybe from last summer price could be unfolding a large Ending Diagonal

[EFA]

probably this line is why we don't see a clear breakout, still it's a wait game.

Cobra could you please explain why the line you traced between the top of yesterday and the closing of yesterday means a resistance that SPY is not able to overtake at this moment?
Thank you.

[BullBear52x]

Looks like we are going to park at 131 today. well, I am packing up

Thanks Cobra and everyone GLTA

TA note: no new change, net short into the night.

[Al_Dente]

WAVY
Joe created OBV on balance volume indicator (now updated via accumulation/distribution indicator), which was the first indicator I used on entry into this industry, drawn on my PENCIL charts BY HAND (awaiting weekly O’Neill printed chart books, hand-delivered every Saturday).
Last night I ran OBV till I was blue in face, not sure where/how he got his sell signal OBV (except slight divergence – like every other indicator).
Anyone care to post chart w OBV sell signal prominent and simple ??

[So thanks to everyone for not asking “U been around such a long time…then, big shot Al…why aren’t u smarter”
… wussie but true answer, I was out of industry for years….]


KNOCK: mkt follows the VIX, and visa versa, bolinger bands compress prior to a mkt move….USUALLY NOT ALWAYS

[uempel]

Update

[TraderGirl]

You can see what happened to Silver during the FOMC meeting on September 21, 2011.

I don't think they will announce or even suggest a QE3 on Wednesday, next week.

So keep going up silver, until Wednesday at noon next week.

Nice work proteus, there is a turn day for silver on the 23rd which could take until the 24th, so we will see what happens then....

Silver down today on turn day, could follow the market, another turn date for silver on Feb 6th (+/- 3 days), could be in a trough by then...

TraderGirl,

Many thanks for the turndates/cycles info. Just curious how you come upon these turndates for different asset classes... method to the 'madness' so to speak

Been recently getting interested in the cyclical aspects of the market (Bradley, Armstrong, etc), so just trying to expand my knowledge in the space.

Much thanks!

I follow a lot of different people and try to take what works from each person. Merriman calls a lot of good turns. Some of them have not been so effective because of this market run-up, but there are other forces that won't allow a market to correct. I believe in "time" more than price for turns. Sometimes all of a sudden sentiment can change on a dime, those are from underlying cycle/astro events. Bradley dates are not 100%, but they do sometimes call turns in particular indexes/markets, and sometimes the market direction. My previous call for the last major Bradley turn date of 12/28/2011 was that it could turn 7-8 days prior to 12/28, because there was another turn around that date, and it did turn on Dec 20.

I usually take multiple dates and directions, and correlate to the current market conditions. Like Silver and Oil, yesterday and today was a turn date, but it may turn back up with the market this week, then fall next week with the market, if it starts to sell off.

[Cobra]

probably this line is why we don't see a clear breakout, still it's a wait game.

Cobra could you please explain why the line you traced between the top of yesterday and the closing of yesterday means a resistance that SPY is not able to overtake at this moment?
Thank you.

Pure luck, no logic behind yet, at least I don't know the reason behind it.

[Cobra]

probably this line is why we don't see a clear breakout, still it's a wait game.

So descending triangle instead of ascending triangle. Have not made a trade in hours...or really even considered one.

It's not descending triangle.

[99er]

Update

SPX http://www.99ercharts.com/archives/554

Honey...is it soup yet?

[Al_Dente]

Note volume one minute ago
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427


Judy Garland, 1960s, live http://www.youtube.com/watch?v=nCqzt3AK ... re=related

[knock]

tvix is near yesterday's close.

[Cobra]

breakout finally, but volume surge, so I'm still not sure if this is a valid breakout, need see the next few bars.

[Cobra]

still not good enough.