01/24/2012 Intraday Watering

[L_T]

Sparsely populated board today. Calm before the storm?

[BullBear52x]

now SOKU indicator confirmed my sell.

how come i don't see a clear sale from that indicator? come on man.
i suggest looking at it for couple weeks to see if u can get comfortable with it. i really don't want to hand u something just to hurt u.

I use yours as another tool to confirm my signals, well so far it's not bad on my 5 min.

[Cobra]

could be Triangle here, not sure, not bad for bulls anyway.

[EvilTrader]

This market dont want business today.

I am short following my indicators, and i hope we fall hard !!

[Me XMan]

Try again...short $131.30

[TraderGirl]

Let's look at Visa...Looking toppy...will there be a break out, or a break down...???
I'll be watching Visa in March when we look to be topping out on the 5th wave...we'll see what happens...

[uempel]

L_T writes about a storm. What's the weather forecast? I've got a big signal for tomorrow. At the mom SPX is stuck at 1312 and I'm calling it a day. I hope there will be some wild moves tomorrow.

[Al_Dente]

“Treasury yields [$TNX] hit 7-week highs as Fed meets….Government’s 2-year auction on tap…”
http://www.marketwatch.com/story/treasu ... -24-853210


Martina McBride …http://www.youtube.com/watch?v=w0SyALaWR08&ob=av2e

[BullBear52x]

Paging Soku,
Once my trend change to sell the rally I use yours to confirmed the action on sell.

[cougar]

Let's look at Visa...Looking toppy...will there be a break out, or a break down...???
I'll be watching Visa in March when we look to be topping out on the 5th wave...we'll see what happens...

Excellent point, TG!
I agree!

[fehro]

trendlines... and possible bull flag? a break of channel at 1308ish... might take us to 1292ish?

[cougar]

In Europe, things are looking up! “Ireland is making great progress…” - says the R.M. press…
According to my cousin in Edinburgh "the Irish found several lakes with a good slope and waterskiing tourists will bring in tons of money…".

[Petsamo]

I realize SPY 125.50 is a long way down, but the number is significant. January is used as a barometer for the rest of the year. If SPY falls below 125.50, January would become negative.

[TraderGirl]

Let's look at Visa...Looking toppy...will there be a break out, or a break down...???
I'll be watching Visa in March when we look to be topping out on the 5th wave...we'll see what happens...

Excellent point, TG!
I agree!

Btw, I want to point out that Visa broke down through the 50 dma on April 30, 2010, which was 3 trading days before SPX broke through 50 dma and 4 trading days before the May 6th flash crash....

[Petsamo]

In Europe, things are looking up! “Ireland is making great progress…” - says the R.M. press…
According to my cousin in Edinburgh "the Irish found several lakes with a good slope and waterskiing tourists will bring in tons of money…".

Larry Kudlow says Europe does not have pro-growth policies.

[uempel]

“Treasury yields [$TNX] hit 7-week highs as Fed meets….Government’s 2-year auction on tap…”
http://www.marketwatch.com/story/treasu ... -24-853210


Martina McBride …http://www.youtube.com/watch?v=w0SyALaWR08&ob=av2e

The thing about this vid is a) we hear a great voice and b) we all get kissed at the very end (traders don't get kissed very often during market hours).

[BullBear52x]

Yeap, Mr. Obama knows only few will view his speech, if the market tank it will lessen the viewer more Just kidding, news aside trade what's in front of mour

[Al_Dente]

RE FOMC WEDNESDAY
Sorry, I am unable to link this, it is locked up inside schwab research, (edit/cut/paste)

“…For the first time, Fed officials will release forecasts for their best guess of the path of short-term rates for coming years. They will also provide the likely time of the first rate hike and will also disclose qualitative assessments of the role of the balance sheet ahead. This is a sea-change for a central bank that a decade ago wouldn't even disclose when it had decided to move these rates.”
[And according to Robert DiClemente chief U.S. economist for Citigroup] …”With so many moving parts, there is a risk that the Fed could confuse rather than enlighten markets…Under normal circumstances, official forecasts of where short-term rates will be several years in the future would be quickly dismissed "

“… there is also a cliff-hanger in the works. The Fed could also release a statement of longer-run goals and policy strategy, which might include an explicit long-run inflation target.”

"The Fed has been working on this [statement of longer-run goals] for some time and there is some chance that it may be finalized and published on Wednesday," said Aneta Markowska, a senior U.S. economist at Societe Generale in New York.

“… Federal Reserve Board Chairman Ben Bernanke and his allies want to calm down both doves and hawks that the Fed will be careful and cautious as more signs of recovery emerge, Fed watchers said. The unemployment rate has fallen … in December …increasing talk of the Fed's eventual exit from historically low interest rates.…The Fed wants to assure doves that the Fed will not be quick to hike interest rates as the economy improves and that more quantitative easing remains an option. ….
The Fed doesn't want markets to push long-term rates higher as the economy gains momentum for fear that this could squelch the economy.
… the central bank wants to calm down hawks, who believe that inflation is the next shoe that is going to drop. A formal inflation target could help Bernanke assure financial markets that he won't let inflation break out.
…Analysts at Goldman Sachs forecast the headline [CPI] consumer price inflation will fall from 3.3% year-over-year in the fourth quarter of 2011 to a 1.9% rate in the fourth quarter this year. Core inflation will pass fall from a 2.2% year-over-year rate to 1.4%, the Goldman team said.
If Bernanke succeeds in nailing down inflation expectations, the Fed could engineer another round of bond purchases, or quantitative easing, analysts said.
With so much going on in transparency, most Fed watchers believe the central bank will hold policy steady and not engineer a third round of bond purchases at this meeting….But many economists think QE3 will come soon….”

[waverider]

Demark said the top will be today in a recent interview, hmm. /YM does look somewhat weak. Granville says the DOW will drop 4000 points in 2012...

http://www.bloomberg.com/video/84758540/

[Cobra]

triangle text book target. just a rough idea. overall bulls are not bad.