11/03/2011 Intraday Watering

[pady]

Who thinks the gap between 127.2 and 127.8 will be filled in this runup ( or will it be in santa rally ) ?

[CognitiveDissonance]

Some daily Ichimoku charts

Dollar and Copper up against resistance while Euro and bonds trying to break out. It's an interesting mix.

[pidge66]

H2 long ?

[Al_Dente]

PAGING JARBO
Lobster for lunch?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =246007758

[jarbo456]

PAGING JARBO
Lobster for lunch?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =246007758

sick of lobster. lol

bulls always win the lobster dinner.

[Mr. BachNut]

One thing to note about intermediate wave 2's this past year. I've noticed that they quite often get near the 78.6% or 76.4% retrace, (take your pick.) This has the effect of encouraging the bulls, setting up a trap, in addition to flushing weak shorts out of their positions. You can't win for losing with such strong rebounds, makes it difficult to catch an intermediate trend in the beginning. If this is a wave 2 up, then that retrace level is currently about 1276.

Well said. As a bear who is net long, it is this phenomena that is making me cautious about shorting just yet.

[tdo722]

so all gaps filled. now what?

[jdiesel77]

someone asked about TVIX as day trade or hold longer
...
you can certanily hold this for periods of time - at least time like this.
find a nice low entry point - anything below 50 is brilliant - at 54 now is ok - that is my entry today.
will see how euphoric any euro 'resolution' is - but my guess is the VIX starts its upward creep through this month....
August this year was a brilliant hold on TVIX
you need to have a strong heart to hang in the Trader Vix too. very up and down.
set your risk limits and then get onboard

thanks very much for the info. Tried to buy earlier but my broker is restricted for some reason. Trying to get to the bottom of this.

[waverider]

Nice charts Al, the offensive/defensive ratio looks like a great leading indicator, was unaware of that one but it makes sense, as the consumer runs out of funds, they won't be buying stocks. I'm skeptical about this typical "santa rally" people are speaking of. I always use multiple indicators, not just RSI, RSI just seems indispensable.

That's a good song, kind of a depressing one. Sound quality seems decent to me.

[Cobra]

resistance. I gave up, this market wants to go up no matter what.

[uempel]

Update, SPX at resistance:

[pady]

Based on Fibo, this is either done here ( .62*A ) or 126.22 ( A ).

[tdo722]

this is for the long term investors. this is what i see. please let me know what you think. I am so tempted to buy an OTM spy call way out to June 2012.

hell, it's only been 4 weeks and we're already at 78.6%. very high probability we'll get there by mid or late 2012.

[uempel]

Update SPX:

[SB73]

resistance. I gave up, this market wants to go up no matter what.

Extremely difficult market to trade...The idea of letting winners run may only last for 30 minutes or less.

[pady]

Timeline wise also we are close to being done. 3 days for drop. 2 days of retracement. That is almost 70%.

[Dow Trader]

There is no resistance in this daily chart until 1272.00 ... look how nice the MA's ... it needs a real sell pressure to change the direction and so far, nothing shows up ... again, my comment is only in this chart not in hourly or weekly which have another view

[silicon_beaver]

resistance. I gave up, this market wants to go up no matter what.

Laoda, I have to switch to camp of "buy-dip".
Yes, FED doesn't have $$$ but it control the policy.

[grachu]

good morning cobra . did you parents go away safe?
when we get consolidation sometimes you say , consolidation here no good consolidation good for bulls . no good for bulls
so you reference that a consolidation under resistance BEARISH?
and a consolidation above support BULLISH ?

like rich now seems we are consolidating below resistance so..... would be ????? THANKSSSSS

[pady]

Think about it, I will take 1350 or 1150. Because 1350 - my retirement account will make some money and i can finally get out. 1150 - my trading account will make some money for daily expenses.