02/24/2011 Intraday Watering

[Cobra]

Guys, I hope you still remember, we've seen this kind of failed 2nd leg up pattern for quite a few times recently, a follow though here would mean yesterday's low will be tested at least. Careful.

[RedCedar]

On 60 min. chart, SPY is making an up word turn.

[Cobra]

Good, no follow-through, now bull has the ball, a breakout of this consolidation pattern would be powerful. Wait...

[simpletrader]

Guys, I hope you still remember, we've seen this kind of failed 2nd leg up pattern for quite a few times recently, a follow though here would mean yesterday's low will be tested at least. Careful.

out long le

[maldini]

Guys, I hope you still remember, we've seen this kind of failed 2nd leg up pattern for quite a few times recently, a follow though here would mean yesterday's low will be tested at least. Careful.

Nice
//thanks

[wave]

Cobra, any explanation and/or prediction for the big divergence between SPX and COMPQ?

[koolblue]

Good morning all! .... Heres what im watching on a very short term basis...

[BullBear52x]

morning all,

SELL SELL SELL

[Cobra]

Cobra, any explanation and/or prediction for the big divergence between SPX and COMPQ?

SPX will follow COMPQ

[wave]

Ok. Thanks!

Cobra, any explanation and/or prediction for the big divergence between SPX and COMPQ?

SPX will follow COMPQ

[koolblue]

Good morning all! .... Heres what im watching on a very short term basis...

...Note the 'average 5 day range' thats how i knew we'd hit 1310 minimum!.. i doubt thats all we see tho! Trading Days High Low Range Range % ... 17 plus 1293.50=1310.50
5 1343.00 1297.50 45.50 3.5% 17.00

[Cobra]

If this is normal 2 leg down, this rebound should fail.

[matrix]

1311...the 23.6% retracement....

[99er]

Crude
Blow-off Top?
http://99ercharts.blogspot.com/2011/02/crude_24.html

[Cobra]

OK, there's a danger this is a breakdown trend line then back test the previous high then rollover again, common reversal pattern...

[nelsonbelchior]

Looks like we are going to chop around inside yesterday's range until New Home Sales and Crude Inventories come out.

Seasonality says today shall be green but we're suppose to short at close.

Cobra you´ll short at close?

[Cobra]

Breakdown this support would be bad but rebound from here would be good as it could be a failed 2 leg down therefore potential strong up.

[Cobra]

Looks like we are going to chop around inside yesterday's range until New Home Sales and Crude Inventories come out.

Seasonality says today shall be green but we're suppose to short at close.

Cobra you´ll short at close?

Don't ask me this question, because people may follow so I have no guts to answer.

[simpletrader]

Breakdown this support would be bad but rebound from here would be good as it could be a failed 2 leg down therefore potential strong up.

should have a bear trap here is it is try to break down.

[PLMT]

break down