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Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:38 pm
by Cobra
Again, this kind of consolidation is bullish. The market doesn't want to drop.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:39 pm
by uempel
DCS wrote:Some of my long positions got bounced by the 10:45 dive. They were pretty young stops, so not much icing.
Now I'm having to study re-entry.
I'm torn between the possibility of correction this week and the overall bullish sentiment.
I'm having one of those days where it's hard to sit on your hands, but I'm doing my best.
I agree.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:41 pm
by BullBear52x
Cobra wrote:BullBear52x wrote:Cobra wrote:if cannot DECISIVELY breakdown below the Friday's low, this is still pretty much bullish pattern.
If closes below Friday, can we say engulfing big time?
Yes, it'd be Bearish Engulfing, but don't forget, the Bearish Engulfing pattern is actually very very very very very very bullish.
What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:41 pm
by Tabby
Cobra,
In past, you calculate or given probablity ( %) if $SPX and $VIX close in green, the next day would be in red. How do you calculate that based on your model? If you have time to answer this question.
Many thanks.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:43 pm
by stocksage
BullBear52x wrote:My short term indications, suggest a sell from friday is confirmed. bears can relax now, but don't wake uncle Ben up please.
And may I ask, "What are those sell confirmations?"
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:45 pm
by Fritz Baxter
Virtually no volume today.
Wonder who blinks first, bulls or bears.
Out of my QID purchase from Friday.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:48 pm
by BullBear52x
stocksage wrote:BullBear52x wrote:My short term indications, suggest a sell from friday is confirmed. bears can relax now, but don't wake uncle Ben up please.
And may I ask, "What are those sell confirmations?"
First sell at 123 formation after MA turned. second MA turned in the same direction that's my confirmation. see my chart that I posted. I go with 1m ma200.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:48 pm
by Cobra
Tabby wrote:Cobra,
In past, you calculate or given probablity ( %) if $SPX and $VIX close in green, the next day would be in red. How do you calculate that based on your model? If you have time to answer this question.
Many thanks.
I manually count the next day. Nowadays they don't have any edges if not on the upside.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:49 pm
by Cobra
BullBear52x wrote:
What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.
Can you think of any reason that could bring down this market?
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:54 pm
by BullBear52x
Cobra wrote:BullBear52x wrote:
What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.
Can you think of any reason that could bring down this market?
I know, sometimes I just think, so long the FED got cash why bother to short anything... but, we are wired not to sit on our hands.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:54 pm
by silverharp
You can see the fib support from the Futures, the robots know where to stop
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:58 pm
by BullBear52x
Here is the turn I was talking about confirmation. the magic market said it all.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 12:58 pm
by TexasGordon
Cobra wrote:BullBear52x wrote:
What if a gap down to follow? I know if it trade inside day the following day recent high should be tested, am I right? but gap or closed below will that be good enough confirmation for down trend continuation.
Can you think of any reason that could bring down this market?
NFP is Friday, usually one large day down before to allow big people to buy before running up before the report
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 1:00 pm
by Cobra
I'm not sure but based on green and pink, the low might have already been in.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 1:08 pm
by BullBear52x
1m hit resitance here, 1h chart RSI still sitting pretty, MACD is negative
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 1:08 pm
by uempel
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 1:13 pm
by KENA
The dippers are driving the mkt up for now. We have bull traps ,bear traps, so lets have another trap called dipper traps. Lets see what happens.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 1:25 pm
by stocksage
I'm pretty much in agreement with a top of the 3rd wave around May 24th on the spx. Only playing the long side til then. I was short from 1340 down to 1250 area.
http://www.safehaven.com/article/20290/ ... top-part-1
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 1:26 pm
by Cobra
I'm still watching these 2 charts, no big up for 2 days, then bears would have some chances finally. For now all bears can do are pray.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 1:31 pm
by BullBear52x
Some poeple see market want to go higher, and some see VIX want to go higher. What do you see? Break time.