06/03/2011 Intraday Watering

[Cobra]

Cobra, what is your downside target this afternoon?

no, that chart is info only, i just use it to show what normal bear case would like.

[BullBear52x]

Bears got one last stand, a turn down from here will give intraday negative divergence.

[cletus]

Watch for M shaped bottom today, it will look like a move to the downside to make new lows then suddenly explode higher. Buy on D.

Cletus: on which time frame do you watch that "bullish buttefly"?

I'm looking for it on the 1 min SPY chart which is setting up, but in reality it may not work out and we could just fill the gap straight away. I think it could though. So I'd be wanting to buy SPY around 130.30 or so or whenever I see big volume come in on a dip.

This pattern is invalidated. Not sure what to expect but indeed the trend is moving up and the market is set up for a positive seasonality on Monday.

[blue01]

cletus, I like your graph

[dr659]

so far go as planned. another critical time here.

just a little overshoot?

[Cobra]

tough call here, the rebound is led by big financial stocks I guess, cuz, QQQ and IWM are lagging. Bears still have a little little hopes here.

[Mr. T]

Those bears tried taking my gold chains...... again!!!

Sold them some more gold colored chains.... they never know the difference.

Where's my buddy Yoku???

Great work Cobra = as always!

[uempel]

Strong support at 1307 on so many charts, but it's all important for bulls that SPX breaks upwards above 1320 and disregards the H&S formation. I'm off for a long weekend...

[jamesmith]

Strong support at 1307 on so many charts, but it's all important for bulls that SPX breaks upwards above 1320 and disregards the H&S formation. I'm off for a long weekend...

SPX5.png

SPX6.png

SPX7.png

thank you~~ have a good weekend!

[Cobra]

so far go as planned. another critical time here.

just a little overshoot?

nope. now bulls need show some strength here.

[JustTrading]

tough call here, the rebound is led by big financial stocks I guess, cuz, QQQ and IWM are lagging. Bears still have a little little hopes here.

My best guess is markets reverse back down....rally happened too early in the day.

[cletus]

COW update. This thing is still ready to do some backtesting up the 29 area I believe, and it's rolling today.

[BullBear52x]

My new line in the sand.

[Cobra]

again, info only, a common pattern for bear case would like this. both bear and bull are at key point now. I have no idea who's going to win.

[tegra]

come on bear, bear is going to win !!!

[99er]

SPX
Back test of gap...
http://99ercharts.blogspot.com/2011/06/spx_2840.html
Believe it's down from here.

[tegra]

final target should be near 1250 area.

[uempel]

[/quote]
thank you~~ have a good weekend![/quote]

You too Mr. Smith!

[Cobra]

thank you~~ have a good weekend![/quote]

You too Mr. Smith![/quote]

going to mountain?

I think my lawn was made by gold, over CA$ 300 has spent on it now, should be more, not including watering it.

[BullBear52x]

Not too overly bearish, bulls did got some thing to write home, see down wedge breaks.