02/01/2012 Intraday Watering

[HappyFriday]

Sorry Bulls, you guys cannot push any more higher. The bell is ringing to sell it down.

[alphahorn]

Don't give up on more downside soon. 30 min Renko is tracing a common pullback pattern

[Al_Dente]

5 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =249026794

THANKS BARON

[cougar]

I got intraday sell flashing I expected to see us trades down to 131.5 if not I will be really disappoint in bears.

Maybe...A reversal at 7/8 MM and the H(13) time/price line would be very bearish...

[Cobra]

so far looks like a bull flag, so the bias is up.

[waverider]

financials, semiconductors, and copper are looking strong.

/DX breaking down.

[EFA]

Treasurys sell off (TLT gap) as investors pile into stocks

Folks, u can’t make this stuff up:
“The Treasury Department is exploring the idea of issuing two new types of securities as a way of expanding the government's means of financing operations. One of the securities would offer a floating interest rate …. THE OTHER WOULD ALLOW FOR SECURITIES TO BE AUCTIONED WITH NEGATIVE YIELDS, WHICH ESSENTIALLY ALLOWS INVESTORS TO PAY THE GOVERNMENT FOR THE PRIVILEGE OF BUYING THOSE SECURITIES…”
http://news.ino.com/headlines/?newsid=68983757575680

If the EU looks like it will be in imminent collapse they'll sell those negative yields. Debt implosion has been Bernanke's nightmare. It is uncontrollable with no known tools.

Al, thanks for your always interesting comments. In reading the INO.com article I find something that does not seem correct. The article says: "Treasury also announced that it would auction $72 billion in Treasury securities next week in its regular quarterly refunding. Those securities will include $32 billion in 3-year notes, $24 billion in 10-year notes and $16 billion in 30-year bonds."
The NYC Fed yesterday issued the official plan of sales/purchased for February: http://www.newyorkfed.org/markets/tot_o ... edule.html
You can see that the plan should be $45B purchases and $43B sales. I tend to believe this info that seems also more rational (???!!!)
E.

[L_T]

Don't give up on more downside soon. 30 min Renko is tracing a common pullback pattern

Nice chart.

[SWalsh]

so far looks like a bull flag, so the bias is up.

Yet doesn't that look like a bear flag below it last night?

[Cobra]

ascending triangle or rectangle, so still more likely going up.

[Al_Dente]

Follow up eu ETFs
Europe now beat their 26 jan highs
China and spy did not yet
http://stockcharts.com/h-sc/ui?s=EWG&p= ... listNum=15

PS thanks EFA

[Unique]

If we manage to do gap fill today, next target is 131.75. Anyone?

[cougar]

Paging “soku“: AMLN in THAT critical zone!

[waverider]

so far looks like a bull flag, so the bias is up.

Yet doesn't that look like a bear flag below it last night?

Looks like an inverse H&S and tight high flag. China, Brazil, Spain etfs all going honeybadger.

[ClarkW]

Interesting article on why Iron Ore is a better indicator than Baltic Dry Index by Pragmatic Capitalism

http://pragcap.com/iron-ore-is-a-better ... -dry-index

[Cobra]

rectangle, the bias is still up.

[cougar]

rectangle, the bias is still up.

Right! Hope that the bears are listening to you!

[usctrojan99]

Let the trend be your friend. This market is resilient.

[jimme]

I think it's turning right here. /ES is against the wall. I'm getting my skis on. GLTA jimme

[Al_Dente]

Interesting article on why Iron Ore is a better indicator than Baltic Dry Index by Pragmatic Capitalism
http://pragcap.com/iron-ore-is-a-better ... -dry-index

Clarkw GREAT link thx. What symbol can we use for iron ore??? (baltic sucks) best I can find is just steel only, $DJUSST ? or SLX ?