06/27/2011 Intraday Watering

[rhight]

Did anyone notice that SPX stopped today at the 61.8% retrace of Wednesday high to Thursday low?

Yes.

And we still have no 5th wave down from May 2 high.

Right you are, the jury is still out.

[soku]

i see negative divergence and early sign of overbot. 1275-1280 was low volume area which could be res or some kind.
the last 5 point rally is strange. the setup i am waiting for didn't happen. i short too early.
technically es is still in a bearish gartley, only if 1280 is taken.

damn, the market is doing exactly what i meant. 1275-80 area is the low oi zone. es went up and was rejected at 1280 then retreat back to 1275.
this is not normal. maybe cobra can do some better explanation. to me, it is a trap.

[99er]

SPX
Goal line is in sight.
http://99ercharts.blogspot.com/2011/06/spx_4936.html

Have a good one.

[99er]

Anaconda: Heads Up.
Bullish Gartley on silver.
http://99ercharts.blogspot.com/2011/06/silver_27.html