11/04/2011 Intraday Watering

[jarbo456]

SPX has nicely recovered its 5min 200MA at 1241. need to watch to make sure there isn't a buying rebound from here.

as you can tell, i'm a very wary bear. any excuse is a good and large enough excuse to continue this rally for the bulls.

[Dow Trader]

Jarbo,
remeber yesturday when I post that I closed all longs at 1253 ? because I saw a shift in YM contracts ? this is why I said exit is more important then entry. I also mentioned that I see a hope for bears near 1253 area and hope became real..
this is 4 hours chart to show the actions and levels,check the red candle that we are in now it if closed like that or bigger then the blue line will be confirmed as a strong resistance ,as I said yesturday, I have to be flat and ready for Monday..

[StrikePrice]

If this is 3 of 5, then target is 1138 possibly.

1 = 1292-1215
2 = 1215-1263 ( 61.8 )
3 targets = 1138 ( 1.618 of 1 ), 1060 ( 2.618 of 1 )

I'm not thinking that. I think the larger pattern is an ABC correction of the 5 waves down to 1,075. We made A and we're now in the c of B. When Cobra calls a higher high he's seldom wrong, even if it comes a week or two later.

[Cobra]

here's why it should be 2 legged, as I said yesterday, all the big pullbacks recently were just 1 legged, which is unbelievable. If statistics are of a little little use, this time should be 2 legged, not to mention the pullback this time is larger than all the previous ones.

Cobra, if the 2 leg down, is it still buy dip ? thanks or the market will retreat few days? thanks

2 leg down here refers to only intraday.

I don't know the next few days yet. need see how market closes.

[pady]

I wasn't Bullish. I posted on this Board I shorted at 1,250 and I held through the squeeze up.

Nice one strike. Same number for me. I posted target as 1138. Too much ? Unless this was an ABC of some sort. Looks impulsive though.

OOPS...you answered as i posted.

[Dow Trader]

Channel is dead but Euro still in the channel

[jarbo456]

Jarbo,
remeber yesturday when I post that I closed all longs at 1253 ? because I saw a shift in YM contracts ? this is why I said exit is more important then entry. I also mentioned that I see a hope for bears near 1253 area and hope became real..
this is 4 hours chart to show the actions and levels,check the red candle that we are in now it if closed like that or bigger then the blue line will be confirmed as a strong resistance ,as I said yesturday, I have to be flat and ready for Monday..

yup! and it shows how smart a trader you are - not getting married to your bullish views (positions).

[trendfollower]

Added MELI to stock list with price levels.

http://stk.ly/w0ia7w

[StrikePrice]

SPX has nicely recovered its 5min 200MA at 1241. need to watch to make sure there isn't a buying rebound from here.

as you can tell, i'm a very wary bear. any excuse is a good and large enough excuse to continue this rally for the bulls.

Pretty clear to see now. A break of the 1238.92 will end the higher highs higher lows since Tuesday. Cobra's NFP call might be exactly what the Bulls plan on.

[jarbo456]

Channel is dead but Euro still in the channel

Yeah. -_- EUR/USD back to fighting at 1.3740.

[Dow Trader]

EUR update, still in the channel

[pady]

I'm not thinking that. I think the larger pattern is an ABC correction of the 5 waves down to 1,075. We made A and we're now in the c of B. When Cobra calls a higher high he's seldom wrong, even if it comes a week or two later.

If so, B is 50-78% of A. And A was 1075-1292 ( 217 ) which brings target to 1186 at 50% ( which also fits exactly to the smaller abc of 1292-1215-1263-1186 ).

And then the C target goes to 1317 ( 0.62*A ) or 1400 ( A ).

1292-1215 took 2.5 days. Then this wave should end Tuesday midday.

[SB73]

target reached. should be more, this at least is 2 legged pullback.

Reasons to believe this will be two legged is the longer term technicals are also confirming

[BullBear52x]

Watch this bear flag

[stucap]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

[StrikePrice]

I wasn't Bullish. I posted on this Board I shorted at 1,250 and I held through the squeeze up.

Nice one strike. Same number for me. I posted target as 1138. Too much ? Unless this was an ABC of some sort. Looks impulsive though.

OOPS...you answered as i posted.

We need to break below the 1187 Pivot before I believe we're heading to 1138 over 1303. But sure, this could be impulsive...I'm just sticking with the 5-3-5 Zig-Zag for now.

[jarbo456]

Watch this bear flag

all the bear flag needs is some slip of a sort of euro positive rumor to negate it like what happened yesterday. going to keep a close eye on my shorts....

[tdo722]

SPX has nicely recovered its 5min 200MA at 1241. need to watch to make sure there isn't a buying rebound from here.

as you can tell, i'm a very wary bear. any excuse is a good and large enough excuse to continue this rally for the bulls.

If there's a rebound, we will at least see $124.01 again today before heading up. that I am pretty certain.

[Al_Dente]

5dma support, short term MACD now turning bearish and so's RSI

BB all day yest your 5m MACD signaled buy, and yr RSI above centerline also buy yest
Don’t understand why a smart shark like u avoided the low-hanging fruit yest, munching on a bit of bull?

[BullBear52x]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

Very simple to explain, since when stock trading is science? best trading program never claim 100% accuracy. Trading is more of an art than science IMO