02/21/2012 Intraday Watering

[traveltrey]

Thanks Tradergirl!

[Cobra]

target failed, now this looks like a 3 push up.

[Cobra]

hopefully one more push up here.

[springheel_jack]

SPX at trendline resistance & NQ still failing at 2600. Possible H&S forming on EURUSD.

Bulls might get a surprise today.

[Mr. BachNut]

Still short per my intermediate McClellan setup. Trapped at present.
A couple of + days this week for the McClellan Oscillator or hitting my stop would close the trade.
One tidbit for this setup came out of Friday's trading. A measure of the rate of change in the summation index that I look at has declined to a level that occurs in a trendless market.
This is divergent from price, which remains trending. I generally leave intermediate positions alone in this circumstance until the market shows its hand with the summation index changing or resuming trend. It can go either way.

[btran874]

TWT, are you there? I never seen a Subminuette wave 2 doing a complex correction before. Weird!

This got to be a 5th wave ending diagonal then on the subminute count.

[jimme]

This AM i said I was looking for a good place to go short today using FAZ. I am going to be using TZA which is a 3x bearish option to short the Russell. FAZ is the 3x financial bear option. Sorry for the error and carry on. GLTA jimme

[Al_Dente]

Europe and china
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =255796552

[Cobra]

still in the wedge.

[SWalsh]

ES Globex:

- Premise: A potential ED is in progress

1. The current pullback is clearly corrective therefore a Top is not in place.
2. The s/t EWP could be a DZZ
3. If this is the wave (IV) of the ED then it is required the overlap below w(I) at 1352.75

Be patient, don´t get too agressive on the short side yet

(thewavetrading.com)

Do you also count SPX? The reason I ask is that there are many times (well more than half) that ES spends it's almost 17 hours being thinly traded and generally flat-lining. When it does as such I don't see a way to place anything reliable in the way of a label on ES and have to dismiss it, except for, at times, its own trendlines.

This morning SPX has a clear 5 wave move down that should not have ended anything. But I saw the possibility developing with ES. But it's not my "go to" market for direction. It's only HFT/Algo activity that is doing this as I know from experience these moves were never seen until computers became the dominating force in the market.

[Tabby]

Europe and china
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =255796552

Al,
why do you take your legends off the chart?

[fehro]

bounce or breakdown? SPX 15m

[TraderGirl]

This market reminds me a lot of when we had the May "flash crash", bullishness at all time highs, nobody thinking market could go lower with every dip being bought, VIX at lows, AMZN underperforming, Apple spiking to all time high, with exhaustion bar, semi's trading sideways...

[Cobra]

support and so far no strong pullback, so a retest of the day's high still is possible. maintain the plan.

[btran874]

Okay, I'm putting all my efforts into this ending diagonal. I think it's pretty obvious now on the 5minute count. We need a higher high than 1367.76. I am thinking 1369 would suffice and everything will end there. Your thoughts TWT?

[fehro]

closer view of SPX15m... flag? or small descending triangle?... neg div fwiw.

[Me XMan]

Short SPY $136.90. Transport breaking down.

[Me XMan]

Line them up and execute them all

We have sellers

[Al_Dente]

Europe and china
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =255796552

Al,
why do you take your legends off the chart?

Hi Tabby
That chart has all legends on. U should be able to see and capture all.
Only time I hide legends is when I use soft indicators that I change all the time, or tests

[Tabby]

Europe and china
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =255796552

Al,
why do you take your legends off the chart?

Hi Tabby
That chart has all legends on. U should be able to see and capture all.
Only time I hide legends is when I use soft indicators that I change all the time, or tests

Thanks.I can see all your legends. I just didn't know if there is/are a/- specific reason/s you are taking them off.