03/16/2012 Intraday Watering

[uempel]

Update:

The attachment 54.png is no longer available

Your T/A is stunning. Much more reliable than elliot waves. Some day, some day...

Thanks btran874, I'm better in TA than in retelling jokes...

[uempel]

That's a nice one Al...

[btran874]

Update:

54.png

Your T/A is stunning. Much more reliable than elliot waves. Some day, some day...

Thanks btran874, I'm better in TA than in retelling jokes...

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[SWalsh]

Some triangles end the move when the move up is not an impulse wave, but rather a series of 3 wave moves...so "maybe":

[Roadrunner]

I was hoping for a decent drop in USO but it didn't do much dippin !!

/CL squeeze

[SWalsh]

SWalsh, don't think you're upsetting anybody and what you write is interesting, especially HFT. But I don't quite understand how you can focus on your trading at the same time? I couldn't, I have to be very alert.

I know when I want to (try to) be very alert, and when being too alert will make me see what isn't there. Also, writing is relaxing for me.

I also know that absolutely nothing is going on as I have sounds from my HFT feed. I could close my eyes, and I do a lot, for 20-30 minutes and place my speakers are on loud because this mkt does not make any move of significance without an HFT/Algo hit.

I'm just guessing here, but if I put Doug Cass' gun to my head, I expect an HFT spike up (3 PM sounds consistent), followed by an immediate spike down.

[fulkdaddy]

It looks like we have a 50/50 shot at closing at the high of the monthly options expiration (Opex) Cycle. I found 12 Dates over the last 20 years where the Opex Day Close was the high of the last month (21 trading days) and 11 times out of 12, the following Monday was down. Interesting, the upward trend resumed over the remainder of the week and although, consistently negative, the Monday selloffs were modest in magnitude.

[Cobra]

well, more and more like ascending triangle now.

[KENA]

The Dog's are rallying..It used to mean when the Dog's started to move up , the end was near.

[Richarab]

GC gold futures
How do patterns like this daily one end ?


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[xfradnex]

SWalsh, don't think you're upsetting anybody and what you write is interesting, especially HFT. But I don't quite understand how you can focus on your trading at the same time? I couldn't, I have to be very alert.

I know when I want to (try to) be very alert, and when being too alert will make me see what isn't there. Also, writing is relaxing for me.

I also know that absolutely nothing is going on as I have sounds from my HFT feed. I could close my eyes, and I do a lot, for 20-30 minutes and place my speakers are on loud because this mkt does not make any move of significance without an HFT/Algo hit.

I'm just guessing here, but if I put Doug Cass' gun to my head, I expect an HFT spike up (3 PM sounds consistent), followed by an immediate spike down.

SWalsh, do they wait for some downward momentum just before 3:00, then go? or go at 3:00 on the dot no matter what?

[thengine]

Hi Cobra:

If possible, would you mind giving some opinions about BAC? Since the current market is finance section leading, guess many people have the stake in BAC. thanks a lot.

[BullBear52x]

there's some negative development on daily, BB%, CCI, and RSI here.

[fulkdaddy]

Here is where I got the Opex information. Wayne Whaley, an MTA award winner, writes a FREE newsletter and his data is excellent.
http://library.constantcontact.com/down ... w+High.pdf

[btran874]

Here is where I got the Opex information. Wayne Whaley, an MTA award winner, writes a FREE newsletter and his data is excellent.
http://library.constantcontact.com/down ... w+High.pdf

Good info, let's hope they push this thing up 10 or more points into the close to be safe.

[uempel]

Tigerjim, this is a messy Gann chart, but it shows the system: price tends to stay in channels, and Gann shows a combination of channels with specific support/resistance levels. Check price reaction when price touches the channel borders. The monthly chart I showed a few hours ago follows the same idea - with much less channels and a longer span.

[SWalsh]

One of the ways to get the Gov't's attention is to get the voter off their recliners and into the voting booth as well as getting rid of the electoral college. But apparently those recliners are too comfortable.

The two best ways to get government attention:

1- don't pay your taxes
2- start a church and try to claim tax exempt status

None of the other agencies combined have the power of the IRS when you remove Daisy Cutters.

The Electoral College was sheer brilliance. Without it, probably 75% of the people in America would have no voice. Hillary Clinton, the new war expert who ran from that sniper fire ( ) wanted it abolished. It's reason enough to accept it's usefulness.

[uempel]

I've got a smallish signal at 3 pm, let's see if it moves the market...

[Cobra]

volume surge, not sure if something is going on.

[Denali92]

It looks like we have a 50/50 shot at closing at the high of the monthly options expiration (Opex) Cycle. I found 12 Dates over the last 20 years where the Opex Day Close was the high of the last month (21 trading days) and 11 times out of 12, the following Monday was down. Interesting, the upward trend resumed over the remainder of the week and although, consistently negative, the Monday selloffs were modest in magnitude.

I can confirm a few things - High for opex week on a Friday - then SPX closes up!

2) There have actually been 4 MAJOR tops occurring at the quad opex since Jan 2007 - though the only bullish period was Jun 2007 - the other ones Dec 2007, Sep 2008 and Sep 2011 were in bearish periods - For those Major tops (meaning a decline of at least 50 SPX ) Two of the tops occurred on the Friday and two occurred two trading days after.... with sep 2011 - opening lower on Monday, but bouncing to a slight new high on Tuesday (other indices did not confirm) and in Dec 07 - you would have suffered a bit of pain..... but then the market slid relentlessly....

-D