03/05/2012 Intraday Watering

[alphahorn]

Vix has a nice set up for the wedge to pass it on to the inverse h&S. bears finally have something to be excited about

[Me XMan]

GONNA GET DRUNK TONIGHT !!!!

[stucap]

Triangle breakdown? Next support 1362.2 SPX, "textbook" = 1358ish (doing my best cobra impression with the target here)

Note: Thin vertical line is not a pbar--- it's my target line.

[btran874]

Triangle breakdown? Next support 1362.2 SPX, "textbook" = 1358ish (doing my best cobra impression with the target here)

Note: Thin vertical line is not a pbar--- it's my target line.

I don't think it's a triangle. Because if it is, it is clearly missing an E leg.

[stucap]

My target was taken out a few minutes ago. JBTFD'ers will take a chance here. VWAP has been flawless during this trend. I hope the bounce is weak like Ukraine.

[btran874]

Man whoever invested in TVIX must be mad. It barely moved. UVXY is the new TVIX.

[jarbo456]

bears really need to break the 20MA, which it hasn't done (even touched) since Dec. 20th...

[KENA]

"P" turned out to be good swing trade.Locking in gains.

[TraderGirl]

As I mentioned last week, we would probably be testing the 20dma around 1358 on 5th/6th. The question is are we done today, or tomorrow...??

[stucap]

Triangle breakdown? Next support 1362.2 SPX, "textbook" = 1358ish (doing my best cobra impression with the target here)

Note: Thin vertical line is not a pbar--- it's my target line.

I don't think it's a triangle. Because if it is, it is clearly missing an E leg.

I'm no expert with technicals --- just giving it a shot

[uempel]

Channel support:

[SWalsh]

PREVIOUSLY BEFORE EDITING: This is easily the most instructive chart I have ever posted.

I deleted this chart as I do not wish to confuse anyone. There was not a single response to showing 7 trades in a row where HFT/Algo activity took place like clockwork and turned the market. Tuesday dropping would make that 8 in a row, but that short signal wasn't as strong. If one resists that the computers are running the market now, building patterns, and consider some insight as to how they are doing it after a great deal of time confirming it, then I wish them luck with antiquated looks at the activity of players in the market who are gone. Past patterns worked as they were accepted as working. It is no longer the case.

i suggest you look very carefully at channel lines. They are the key to day-trading and short-term trading and those labeling Elliott Wave are becoming quite frustrated as the patterns no long provide adequately reliable activity.

GLTA

[Me XMan]

That's one huge rocket launch.
Do you think earth gravity will get it back to reality?

Channel support:

cv.png

[bbc]

Man whoever invested in TVIX must be mad. It barely moved. UVXY is the new TVIX.

ETN, ETF for VIX related stuff are not for investment in nature considering rolling costs and investor fees.

[TWT]

SPX: Maybe this time is different !!!!

(thewavetrading.com)

[ZimZeb]

toss one back for me Me XMan!

[Cobra]

finally a breakout.

target.

[SWalsh]

SPX: Maybe this time is different !!!!

I don't disagree with you. But seeing that (ii) dig into the area of where the low of (1) is has almost never worked, which I'm sure you have also witnessed. I know as I have positioned myself enough times for (3) and had my stop hit.

[Harapa]

Per DeMark Range Expansion Algo

Notice how SPY bounced off 136.44. LOD 136.42

[SWalsh]

finally a breakout.

Can't work if you say it out loud! (jinx, jinx, jinx )

My guess is an algo spike up if SPY trades over 136.80 and the TL was a good play and #7 worked.