05/16/2011 Intraday Watering

[Cobra]

rebound target according to measured move.

[99er]

SPX
Looks like a right shoulder will soon complete. Expecting prices today to drop below the neckline towards 1319 after a re-test of the neckline (and later a re-test of the lower channel line). H&S target is 1303.
http://99ercharts.blogspot.com/2011/05/spx_16.html

[Cobra]

the only thing not good is QQQ is weak.

[BullBear52x]

Sell zone last Friday, with little divergence here.

[uempel]

I might miss something today, d'ont think there is going to be much action. Bye guys.

[soku]

morning gang. not sure if we r
in
reversal of reversal of reversal of reversal
or
reversal of reversal of reversal of reversal of reversal

but i think we may go up a little bit. es 1341.5 seems a good equilibrium spot to me

[Me XMan]

Boring day today. No fireworks.

[Cobra]

now chances for reversal of reversal of reversal of reversal is much higher. I see red line (MA200) as the rebound target at least.

[gabor]

Everybody expected a break down, the market responded with a rally. I think my Friday chart is still a good prediction.

[Cobra]

should be a pullback of some kind here, then we'll see.

[BullBear52x]

EW guys got paid today. there's still no buy (positive divergence) this morning for me to buy, missing out big time, Oh well, there will soon be one the other way. like this one.

[99er]

SPX
That should do it for the right shoulder.
http://99ercharts.blogspot.com/2011/05/spx_1822.html

[agnosia]

my /es 1340 target has been reached.... will try a short here with tight stops.

[KENA]

No trades yet today but I am looking at CAT.It has had a good pull back and is now going up.Watch and wait and see.It could be good for a swing trade for a few days.

[BullBear52x]

Buying FAZ, TZA and EDZ for good scalping then I'll go back to sleep.

[agnosia]

feel pretty certain this move is over and we will end at 1333.... i am short 1340 stop 1341 ... come on bears!

[gabor]

Cobra, I have a question: What are SPX:XLP, SPX:XLV, BDI, ONE:TED, called leading indicator on daily SPX chart.

[Cobra]

ok, I see a rebound of some kind here, then we'll see.

[Cobra]

Cobra, I have a question: What are SPX:XLP, SPX:XLV, BDI, ONE:TED, called leading indicator on daily SPX chart.

HYG or JNK, whichever you like.

[soku]

feel pretty certain this move is over and we will end at 1333.... i am short 1340 stop 1341 ... come on bears!

be cautious man. i am not so optimistic. feel like some support around 35-36.
if bears cannot effectively take 1334.5 where is the vwap and my new equ point, it could still be a bullish flag.