01/10/2012 Intraday Watering

[BullBear52x]

Can some one look at LULU chart and tell me what kind of candle that is. PLZZZ

I am surprised...its been 6 months since cobra started intraday forum

Looks like a shooting star, can be a reversal candle sometimes....

high volume like that most likely an exhaustion gap. I wish I see that on SPY

[jarbo456]

Can some one look at LULU chart and tell me what kind of candle that is. PLZZZ

I am surprised...its been 6 months since cobra started intraday forum

Looks like a shooting star, can be a reversal candle sometimes....

high volume like that most likely an exhaustion gap. I wish I see that on SPY

hard to say since it's based on better than earning's estimates. however, i sold weekly 60 calls on it this morning.

[zipper]

Just thought to put a fundemental view on the game...
Market internals are not looking flash at all.
With the market up 11 handles the bonds should be down over 1 handle and yet they are only down some 6 points.
The euro is only teasing the market,
There is no follow through to show conviction to this move.
So I would be very concerned if a bull that this looks like a last gasp.
Liquidated all longs at 1288 and just watching..
I think the bulls are cashing in but there doesnt look to be follow thru.
I dont at the present time see shorting tho..

The wizard reckons there is more upside on Thursday after the close tho..
I reserve judgement
cheers

[SB73]

how about close near 129, then gap up near todays HOD thus completing the evil plan then a rip your face off sell off????

From DAX, looks like another gap up tomorrow morning is possible.

Close here today and we have another black candle...we are building a nice cluster of them. My take is gap up and follow through, kiss bear case goodbye for another period of time. Gap up and reverse bears are in business. Gap down and who knows, but bulls have not allowed bears to hold any gaps recently and the gaps have been shallow.

[Al_Dente]

PS: tradergirl
Be sure to check cobra’s market outlook, he has the best VIX charts and best VIX commentary, almost every night.

1 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
Note volume
Note lack of ticks below -600 (see green bar) …..SO FAR…
Note nyadv >2200…but weakening

[lcgllc]

i'm not so scared of DAX, it just may be a case of DAX/SPX compression trade, 1/3 short position in ES for me

[janez]

Cobra, or other trading friends,
If spy and Vix both close green (likely today?), what is the stats for tomorrow?

[Al_Dente]

Also note severe bolinger crimp on 5 min vix (usually portends big move, never tells direction)
Sorry, messy chart, no time to clean it up
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =249026794

[jarbo456]

Cobra, or other trading friends,
If spy and Vix both close green (likely today?), what is the stats for tomorrow?

not sure if consecutive green VIX and SPY days was calculated...but Cobra showed 61% success rate for going short today and closing tomorrow on a day that VIX and SPY end green.

[TraderGirl]

PS: tradergirl
Be sure to check cobra’s market outlook, he has the best VIX charts and best VIX commentary, almost every night.

1 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
Note volume
Note lack of ticks below -600 (see green bar) …..SO FAR…
Note nyadv >2200…but weakening

I wish I knew how to read this chart, you need to give us lessons..

[BullBear52x]

Cobra, or other trading friends,
If spy and Vix both close green (likely today?), what is the stats for tomorrow?

not sure if consecutive green VIX and SPY days was calculated...but Cobra showed 61% success rate for going short today and closing tomorrow on a day that VIX and SPY end green.

Oct 28 last time we have similar VIX Pos D. daily chart, MACD/RSI. I posted the chart in reply to 99er's Whoa VIX. they don't come often.

[jarbo456]

Cobra, or other trading friends,
If spy and Vix both close green (likely today?), what is the stats for tomorrow?

not sure if consecutive green VIX and SPY days was calculated...but Cobra showed 61% success rate for going short today and closing tomorrow on a day that VIX and SPY end green.

Oct 28 last time we have similar VIX Pos D. daily chart, MACD/RSI. I posted the chart in reply to 99er's Whoa VIX. they don't come often.

yeah saw that. loved seeing all the pos D on the VIX chart. now can you send the memo to the market?

[Cobra]

support. overall, if the market close here, not a good looking daily bar. I still think this is a distribution, ever since the new year, we just gap up and sit there whole day.

[SB73]

support. overall, if the market close here, not a good looking daily bar. I still think this is a distribution, ever since the new year, we just gap up and sit there whole day.

Descending triangle?

[BullBear52x]

Cobra, or other trading friends,
If spy and Vix both close green (likely today?), what is the stats for tomorrow?

not sure if consecutive green VIX and SPY days was calculated...but Cobra showed 61% success rate for going short today and closing tomorrow on a day that VIX and SPY end green.

Oct 28 last time we have similar VIX Pos D. daily chart, MACD/RSI. I posted the chart in reply to 99er's Whoa VIX. they don't come often.

yeah saw that. loved seeing all the pos D on the VIX chart. now can you send the memo to the market?

You can only defy gravity for so long

[ClarkW]

50% Fib level has provided to be resistance for the $DAX on the daily. Couldn't close above it today, maybe tomorrow?

[Cobra]

support. overall, if the market close here, not a good looking daily bar. I still think this is a distribution, ever since the new year, we just gap up and sit there whole day.

Descending triangle?

no time now.

[ClarkW]

Black bar on daily for: $SPX, $NDX, $SOX, EEM, GDX, GLD, IWM, SLV

[waverider]

Looks like the white house needs another debt ceiling increase.

http://www.zerohedge.com/news/obama-ask ... atter-days

[1der]

Distribution ??? I have a filter that collects the ES trades of 1001 or more contracts per trade. It has many, many more entries today than for probably 4 or 5 months. Maybe distribution... who knows.

COBRA - I so much appreciate when you say "no idea what the market is doing" . I have found the market difficult to read over the past eight weeks. the "velocity" in the ES and EUR are just painfully slow and jerky. I am limiting my trades until this settles out. Thank you for all you do for us.