03/23/2012 Intraday Watering

[OverUnder]

I suddenly understand the meaning of "when pigs fly".

[Cobra]

poked through the resistance, I still think a consolidation here is needed at least.

[Apple]

l

[OverUnder]

I see a head and shoulders, backtest to neckline, lower low and lower high.
Though you could certainly call this portion since mid Thursday the completion of a lower or complex right shoulder. And I see very high odds.

[noob]

poked through the resistance, I still think a consolidation here is needed at least.

Cobra, bears are over is for intraday only right? Still lower close ahead? Is Vix a buy here? Much appreciated.

[Cobra]

poked through the resistance, I still think a consolidation here is needed at least.

Cobra, bears are over is for intraday only right? Still lower close ahead? Is Vix a buy here? Much appreciated.

over for today and perhaps Monday. For now lower close still possible, need see how rebound goes first.

[SWalsh]

Another possibility with lower odds than Cobra's plan. SPX completing right shoulder of HS.

Screen shot 2012-03-23 at 11.51.21 AM.png

Makes sense.

Looking at multiple studies, that used to work, the market's high is in unless the government throws a bunch of money into the market, which is of course possible.

[Cobra]

a little fib info.

[TWT]

SPX: a usual the pullback looks more corrective then impulsive which could imply that the correction is over

Below I have 3 potential EWP

Bears need to pray that today´s lod is wave (1) of (C)

[SWalsh]

Every bull market people try to pick tops. It's a very stupid strategy.

I'd agree....if this were a bull market. But the world economy is a balloon. Not since Baghdad Bob spoke have such lies been put forth as to "recovery" as month-after-month the American investor must net withdraw funds from the stock market to survive.

http://www.youtube.com/watch?v=CXl1GkWWGmA

[Cobra]

maintain the plan.

[Cobra]

big picture.

[SWalsh]

SPX: a usual the pullback looks more corrective then impulsive which could imply that the correction is over

Below I have 3 potential EWP

Bears need to pray that today´s lod is wave (1) of (C)

Try to see what the count might be if you were to consider that the (b) of (ii) cannot be that short in time. It changes the entire count, IMO. 99% of ever B wave I have ever seen that is infinitesimal in time to the same degree of its wave A and wave C ends up, later, having to be changed. So I never place them as such to start with. Yes, it makes it easy to label and allows one to move forward to the rest, but I had to ask myself why I did that so many times that I will no longer label a brief wave, and particularly one without structure, a B wave. Ponder that for a bit (and see if we go lower ) and if you think it might just be an additional subdivision here in a trend change that the computers caused. Oh, and watch "Colossus: The Forbin Project" if you've never seen it. NetFlix has it. Machines take over the nuclear arsenals and they don't bluff.

All I know for today is that the HFTs bid the daylights out of it to stop this from accelerating. It's a new day out there, and I can't say I like the implications for the markets or for our nation.

[SWalsh]

big picture.

Looks like a nice H&S with gaps below.

Was that a Rorschach test?

[uempel]

I'm waiting for more upside which I would sell....

[dumamay]

Every bull market people try to pick tops. It's a very stupid strategy.

I'd agree....if this were a bull market. But the world economy is a balloon. Not since Baghdad Bob spoke have such lies been put forth as to "recovery" as month-after-month the American investor must net withdraw funds from the stock market to survive.

http://www.youtube.com/watch?v=CXl1GkWWGmA

SWALSH isn't BOB Tim Geithner's Uncle ??

[Cobra]

a little detailed plan. 2 small leg down then reverses up.

[OverUnder]

Can hardly wait to see which plan is right. Maybe it'll be the first one, this.

[ClarkW]

Paging Uempel (Dr. Eclipse): What are your thoughts on the following charts. Put the first together a month ago after Cougar posted it. Found it skimming through charts last night. Second is same just shorter timeframe. Positive D on RSI and MACD. Is there typically a 'reaction' once it reaches the end of the eclipse?

Thanks

[Cobra]

i take this as the 1st small leg up, should fail, well, NORMALLY.