04/20/2011 Intraday Watering

[rptrader]

me too.
Hold my bear loss with pain.
Feeling better as treated as my longs insurance.
Still feel bearish after squeeze like today.

[can_slimguy]

Everyone is talking about the inverted H&S on spx, I don't see 99er following that chart pattern, why?

[can_slimguy]

99er: How about the inverted H&S on SPX? You are not posting any graphs on it, why?

[stocksage]

Agree we are breaking up out of the inverse head and shoulders. Sometimes bears stick to their guns even if it mean losing 8 out of 10 days. Ask Steve Hochberg and those EWI guys.

[Me XMan]

Holy craps! Is SPX skyrocketing to 2600?

99er: How about the inverted H&S on SPX? You are not posting any graphs on it, why?

[KENA]

I'm still waiting to go short... The last time the mkt got up in this range it held in a tight range an did nothing for 7-8 days. The day befor Easter is usually green and so has been the Monday after. So I am waiting. No mkt friday.

[99er]

ZeroHedge: SPX Indexed in Dollars

http://www.zerohedge.com/sites/default/ ... %20DXY.jpg

http://www.zerohedge.com/article/sp-now ... nge-dollar

[Me XMan]

Shorted SPY.

I'm still waiting to go short... The last time the mkt got up in this range it held in a tight range an did nothing for 7-8 days. The day befor Easter is usually green and so has been the Monday after. So I am waiting. No mkt friday.

[ddd]

Holy craps! Is SPX skyrocketing to 2600?

99er: How about the inverted H&S on SPX? You are not posting any graphs on it, why?

Judging from the last 100 years of history, that's where we are headed, isn't it?

[99er]

"What about the IH&S?"

Because some were expecting this:

SPX
http://99ercharts.blogspot.com/2011/04/spx_1854.html

[uempel]

Looks like a breakout and if SPX manages to pierce the 1330/1344 range it's quite something. Odds favor the bulls here and guys who are opening shorts are lying down on railway tracks and hoping the next train will be held up by some incident

[ddd]

To the perma bears:

[Cobra]

OK, calling for a pullback of some kind from here. And I think there're good chances that the VIX has bottomed here.

[Me XMan]

Yeah I hope I can live that long to see my money double.

Holy craps! Is SPX skyrocketing to 2600?

99er: How about the inverted H&S on SPX? You are not posting any graphs on it, why?

Judging from the last 100 years of history, that's where we are headed, isn't it?

[99er]

ddd--

Can't see the full picture but I guess you have us past the top, right?

[ddd]

Last time when SPX jumped out of its consolidation period, went up 12 fold in 18 years from 1982 - 2000.

[StrikePrice]

Last time when SPX jumped out of its consolidation period, went up 12 fold in 18 years from 1982 - 2000.

lol. what's the new tech revolution that PCs were for '82-2000 bull run?

smartphones? ipads? no wait...it's gotta be 3D!!!

[Cobra]

OR high support.

[ddd]

What's ultimately driving the stock market, directly and fundamentally? Not the GDP growth, not the corporate earning growth - those are all indirect. The direct driving force is the value of the US$. GDP and corporate earnings are all derivatives of the US$ value.

If you think we could see eggs sold at $1 per dozen, and gasoline at $1 per gallon again in our remaining life, then we could possibly see SPX < 1000 again.

[uempel]

This hourly chart has not yet given a buy signal (all three indicators have to be on "buy") but it sure is close: