03/01/2012 Intraday Watering

[waverider]

kind of a tweezers top on 15min /ES

[TraderGirl]

Tomorrow is a turn date, look for the market to possibly start heading lower into 5th or 6th...

[BullBear52x]

Line in the sand

[Petsamo]

IWM & the banks don't look like they wanna play anymore

[jimme]

The vix has run out of room in it's decending tri. Just seems like a good time to put a trade on. The silence here is deafening. GLTA jimme

[btran874]

Tomorrow is a turn date, look for the market to possibly start heading lower into 5th or 6th...

So tempted to buy TZA right here but price so damn high.

[btran874]

Dow you are a piece of crap.

[taggard]

Looks like we need to test the 20dma on the daily, sitting around 1350-1355...

1)i second your idea. 20 ema even more important on qqq-it's been a really solid 2 months which is fairly rare for qqq. have always liked emas as "relative absolutes" in terms of rough targets. to my mind any serious action down in spx would likely take 2 tries around the 20 ema--barring something xtreme.

2) also while i personally doubt the news story on aapl is a huge issue right off--what was more interesting was that the 3 companies noted had failed to actually ramp production. why? it was an easy call. any bad execution becomes more of an issue when there is a more competitive situation (my wild guess would be near the end of this year and more so in 2013). when you are strong you can easily with stand minor problems--but the second the playing field is close to equal these problems are far more of an issue.

3) you noted a possible bottom 5-6 maybe that is right--but qqq in every case was down 2 weeks in a row or one really massive week (bounce in the middle ok) after these huge runs. so am suggesting if we actually fail next week we could bounce but would likely try downside one more time the following week.

4) this period at the end of march is real interesting. because if we falter in here (briefly) that could be the period things get worse. at least it might define things into late q2 esp if we hold up. (eg with qqq over highs expecting spx to take a shot at 1500-1600 this year is not crazy just whacked)

[The Hook]

Gasoline up 8.5 cents today alone. They are screaming breakout on everything, banks, tech etc...

Even gold could not break out with gasoline sky high.

Don't obsess with scraping the last few cents of this. Commodity volatility precedes equity volatility.

[The Hook]

Should be flagrantly obvious who the new sherriff in town is. Gasoline....

[TraderGirl]

Tomorrow is a turn date, look for the market to possibly start heading lower into 5th or 6th...

Btw, if we hold up here, then market MAY open slightly higher in morning, then sell off, since tomorrow is the actual turn date....FWIW...

[Al_Dente]

greek 1 year bonds, since this qe-ninja started around Dec. 19th, has gone from 330% yields to currently, 866% yields. i'm not sure how that translates to a "solved" greek issue...

Jarbie
Here’s yr Greece
Boom
All solved
(black circle)
http://stockcharts.com/h-sc/ui?s=$BKX&p ... listNum=15

[Kato]

Diamond Top on DOW??

[BullBear52x]

Diamond Top on DOW??

Screen shot 2012-03-01 at 2.25.35 PM.png

Nice, I like that.

[xglider]

Diamond Top on DOW??

Screen shot 2012-03-01 at 2.25.35 PM.png

Something similar on AAPL. Diamond top island. (Not as elegant looking as DOW tho)

Given this teflon market, its hard to say whether its consolidation or reversal.

[TraderGirl]

Diamond Top on DOW??

Screen shot 2012-03-01 at 2.25.35 PM.png

does that make a 12862ish target??

[Al_Dente]

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

[TraderGirl]

Diamond Top on DOW??

Screen shot 2012-03-01 at 2.25.35 PM.png

Something similar on AAPL. Diamond top island. (Not as elegant looking as DOW tho)

Given this teflon market, its hard to say whether its consolidation or reversal.

We will be getting another move up....don't get caught in a bear trap...

[Kato]

Diamond Top on DOW??

Screen shot 2012-03-01 at 2.25.35 PM.png

does that make a 12862ish target??

I measure to 12820

[jimme]

Diamond Top on DOW??

Screen shot 2012-03-01 at 2.25.35 PM.png

Target 12804. Thanks Kato. GLTA jimme