02/22/2011 Intraday Watering

[Cobra]

Gap down open, out of Friday's range so chances are good that the gap won't get filled and today'd be a trend day (either trend down or up). Judging by ES Global, if this is still a NORMAL market, the previous low at 1320 should at least be tested, that said, as you know this is not a normal market when every single dip was bought, so I really don't know. Anyway, let's see how market opening goes, lower low after 30 min OR (that's 10:00 am ET) then chances are higher the gap won't be filled and more lower low after 60 min OR (that's 10:30 am ET) then 90% chances Close < Open today. Another general rule is, kind of Cobra law, when the world (as well as futures) tanks on some bad news while US is on holiday, the next day US opens, it goes not bad actully and it's been like this for many many many many times. Well, let's see...

[chickencoop]

thanks

[99er]

ES
An experiment with support and resistance based on Wolfe Waves. No idea if it'll work but I'll post another chart at the end of the day.
http://99ercharts.blogspot.com/2011/02/es_22.html
Good luck, folks.

[wave]

Thanks!

[maldini]

good morning

[99er]

Dollar
Will it catch a bid...perhaps a 3rd up?
http://99ercharts.blogspot.com/2011/02/dollar_22.html

[Cobra]

Opening.

[Cobra]

The inital support.

[uempel]

This is the big picture.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... =225715056

[99er]

SPX
Negative divergences playing out...finally!
http://99ercharts.blogspot.com/2011/02/spx_22.html

Have a great day!

[markyuan81]

GOOD MORNING!

[demon]

er..
morning

[chuanhua]

Cobra Loada, it is so nice to see you here. Finally I can see your charts. Since hutong and your blog were both blocked by the f**king GCD, can you post your "after market review" here? I try to use proxy, but no charts can be displayed.

[slcgh]

Good morning

[Cobra]

Cobra Loada, it is so nice to see you here. Finally I can see your charts. Since hutong and your blog were both blocked by the f**king GCD, can you post your "after market review" here? I try to use proxy, but no charts can be displayed.

No cannot, this BB doesn't support HTML. I need setup my own WordPress (not wordpress.com) to do this.

[Cobra]

Not sure if this is called retest of the previous low. The rebound is so damn strong...

[bear33]

hi cobra, what do you think of the action so far? does it support a more bullish trend today, or you think we may retouch the lows today? thanx

[uempel]

Not sure if this is called retest of the previous low. The rebound is so damn strong...

Yeah, too strong. Had to cover shorts.

[Cobra]

Big picture.

[Cobra]

hi cobra, what do you think of the action so far? does it support a more bullish trend today, or you think we may retouch the lows today? thanx

Looks like the Cobra law works again: world tanks on US holiday, it's a buy for US. This market is controlled by just a few people I guess.