03/29/2012 Intraday Watering

[Al_Dente]

Banks were the only group yesterday (on my narrow watch) that held just a bit; today they are quite weak.

PAGING INTRADAY SCALPERS ONLY (not now; for reference later)
How can u tell when candlesticks indicate short-covering?
Here is a zoom of the 5min chart of yesterday’s SPY, noon to the close.
http://screencast.com/t/a9bdP8z8F
[Caveat: it’s not always so clear, especially on broad SPY, and it can be softer and peter-out sooner, or it can be MUCH faster and MUCH more violent. Every squeeze is unique. If you happen to be on the wrong side of what appears to be a squeeze…. exit immediately and ask questions later….sometimes you will find that you have exited too early…….….so what?]

[TWT]

USD Index: Follow up of a potential DZZ

[TraderGirl]

Looks like support. Next level is 1389...

[johnnywa]

Good, bulls are fighting, the wheel has turned, till now we had btfd, today we might assist stfr

Next level of support 1387 ;lets see if that holds

[Cobra]

still it's not a valid breakout, bears need do more!

[soku]

market very choppy. it is good for scalping, or just sit aside and relax a little

[Al_Dente]

Cumulative AD and new lows

[Cobra]

let's see if AAPL can save the world again!

[uempel]

Update:

[BullBear52x]

Today is a positive TRIN day, a break down to new LOD will confirmed a top as bull trap, but so far the Trin doesn't look negative to me, not yet.

[Cobra]

my bias is up (yes, it's up) but if bears could simply consolidate here, then it'd be real good for bears, let's see.

[SB73]

Update:

44.png

Good thinking. We know what has traditionally happened once Europe closes.

[stucap]

my bias is up (yes, it's up) but if bears could simply consolidate here, then it'd be real good for bears, let's see.

What support are we fighting right now???

[TWT]

SPX: If price has the intention to unfold an Ending Diagonal wave (5) this could be a potential option:

[Al_Dente]

Update:

44.png

Up or down???
Bots are selling this
1min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[TraderGirl]

fell through support, backtesting...

[BullBear52x]

by Friday if we can close below 138.5, the weekly chart will have mother of bearish engulfing. not that far out here:

[TraderGirl]

fell through support, backtesting...

[SWalsh]

Good, bulls are fighting, the wheel has turned, till now we had btfd, today we might assist stfr

[Cobra]

target $138.82, 60% chances.