04/14/2011 Intraday Watering

[soku]

i think my 1305 area is not too bad. i want to claim a false break out if we go below 1303.25, as it would be a 50% pull back
if my case stands, i think we will visit 1298 very soon.

by default, all my numbers are on es, which is roughly spx -4

[BullBear52x]

/ES, hourly here, second break down is now.

[rptrader]

Fake rally with light volumn, still buy the dmn dip.
maybe same story as last minute sell off.

[Cobra]

so far go as I planned. If DECISIVELY BREAKOUT then bears are over today. nowadays just so strange, every day is a reversal day, simply there's no trend day.

[Me XMan]

It's strange because of POMO IMO. More interventions will have more deeper dives IMO.

so far go as I planned. If DECISIVELY BREAKOUT then bears are over today. nowadays just so strange, every day is a reversal day, simply there's no trend day.

[EkOnkaar]

Gold action is suggesting Q3..let the printing continue..we are all going to die anywya, what's a few unpaid useless trillion $$$..))
Ek

[rptrader]

Oil up should stress the market more, one must down.
Only SINA and chinese really hot.

[BullBear52x]

SSO, this is what I trade with today.

[Tabby]

Do you think we close above 1315 today? I still can't make up my mind to be a bull, a bear or snake.

[Cobra]

channel and multiple resistance. everything goes as I planed, but if bulls are able to breakout decisively here, then bears are over. for now the fighting is till on.

[uempel]

Uempel or whoever knows, could you tell me if the red arrow points correctly to the heavy resistance area? Can I read the Fib fan lines like this? Thanks.

Cobra, I guess the applications shown in the first chart are the most widely used:

But now I'm looking at this application:

[Cobra]

so far could be 3 push up, bears still have hope (cannot believe now it's bear that asks for mercy). decisively breakout would mean a measured move which can go as high as marked below.

[Cobra]

Uempel or whoever knows, could you tell me if the red arrow points correctly to the heavy resistance area? Can I read the Fib fan lines like this? Thanks.

Cobra, I guess the applications shown in the first chart are the most widely used:

FFexplain.png

But now I'm looking at this application:

FFnew.png

thanks, uempel.

[Cobra]

so far goes as planed. I'll temporarily maintain my original plan. I still see bears have slightly little little better chances.

[StrikePrice]

I'm a terrible trader, but I'm getting a little better as a chartist.

So, I miss this and didn't close my short this morning. ugh.

Cobra,
Does this Positive Divergence on the SPY 60-min hint that the downside is done? I can still make pennies if I cover here.

[Cobra]

I'm a terrible trader, but I'm getting a little better as a chartist.

So, I miss this and didn't close my short this morning. ugh.

Cobra,
Does this Positive Divergence on the SPY 60-min hint that the downside is done? I can still make pennies if I cover here.

There're chances, especially SPY has been down 6 days in a row, what do you expect? I'll hold my partial short of course because I believe the rebound would fail eventually.

[BullBear52x]

a little divergence on intraday, sell more here. I know it's evil

[Cobra]

I see QQQ has lost its momentum and TLT is surging, so I'll still maintain my original plan. Bear may counter strike around here.

[uempel]

I am not short, so this is in the abstract: if I were short I would not cover unless 1321 is broken, period.

[Cobra]

see why I said QQQ has lost its momentum?