02/24/2011 Intraday Watering

[wave]

Down...

[Me XMan]

Futures will retest overnight low IMO.

[Cobra]

Too bad. So chances are high now, the yesterday's low will be tested...

[simpletrader]

triangle formation to test yesterday's low?

[uempel]

1998 came to my mind this morning, and I now checked what happened then. This is nothing for DT, but if might be of interest for whoever is making short term bets:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2

[nelsonbelchior]

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

Cobra you´ll short at close?[/quote]

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

Ok no problem, ít was just for curiosity.

[simpletrader]

open range support at this moment.

[Netrom]

this move down is not impolsiv, shuld be a move up towards 132

[Cobra]

this move down is not impolsiv, shuld be a move up towards 132

I agree, the down leg so far appears to be corrective, so just a retest of the previous low, could be lower low or higher low. This bar looks promising...

[BullBear52x]

1998 came to my mind this morning, and I now checked what happened then. This is nothing for DT, but if might be of interest for whoever is making short term bets:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2

Thanks Uempel, nice chart. I am totally aiming in that direction on my longer holding.

[RedCedar]

this move down is not impolsiv, shuld be a move up towards 132

I agree, the down leg so far appears to be corrective, so just a retest of the previous low, could be lower low or higher low. This bar looks promising...

Nice, Thanks!

[matrix]

no impulse up....watched how they took out s/losses on GM...under 33.....the day it reported profits..!!!! hehe

[uempel]

Another chart I'd like to show you guys in regard to the next few days or weeks. It shows that shorting the bounces is the only strategy at the moment.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3

[maldini]

1998 came to my mind this morning, and I now checked what happened then. This is nothing for DT, but if might be of interest for whoever is making short term bets:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2

Thanks for the sharing uempel.
Would you please specify how long is "medium" in your trading?
1 month, 3 months, half year or ?

Thanks!

[maldini]

This seems to me like a downward trend day today:
all bear bar are small but non stopping, and all big bars are bull.

[Cobra]

Well, here comes the retest. My instinct yesterday was right. Now we shall hope that we do have a lower low this time so the RSI positive divergence could thus form and therefore a potential rebound after that.

[Cobra]

If you don't know what I mean the RSI positive divergence, here is the chart, after all, not everyone reads my daily report everyday.

[Cobra]

This seems to me like a downward trend day today:
all bear bar are small but non stopping, and all big bars are bull.

Great. I remember this.

[Cobra]

This seems to me like a downward trend day today:
all bear bar are small but non stopping, and all big bars are bull.

I mean, I remember this. Not I WILL remember this.

[mafuada]

1998 came to my mind this morning, and I now checked what happened then. This is nothing for DT, but if might be of interest for whoever is making short term bets:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2

Uempel. Who knows what will happen but why would you not move your yellow box left three months?