06/28/2011 Intraday Watering

[BullBear52x]

on daily, we had RSI divergence since 6/14, but pricing level hasn't move higher. this bearish consolidation is through time, not price. another word bears got to be very very very very patience.

UUP (USD) appears to forming bullish ascending triangle with support found today at 50 DMA. Something to watch relative to risk assets.

Yes, I watched DBV 24 level or descending triangle also. very crucial time for equities bulls.

Interesting. I don't monitor DBV. Trying to wrap my head around how to interpret this. From their website:

The PowerShares DB G10 Currency Harvest Fund (Fund) is based on the Deutsche Bank G10 Currency Future Harvest Index - Excess Return™ (Index) and managed by DB Commodity Services LLC. The Index is comprised of currency futures contracts on certain G10 currencies and is designed to exploit the trend that currencies associated with relatively high interest rates, on average, tend to rise in value relative to currencies associated with relatively low interest rates. The G10 currency universe from which the index selects currently includes U.S. Dollars, Euros, Japanese Yen, Canadian Dollars, Swiss Francs, British Pounds, Australian Dollars, New Zealand Dollars, Norwegian Krone and Swedish Krona. You cannot invest directly in an index.

You can trade it just like any fund. anyways, I use it as carry trade indication, if it trades high means positive liquidity to the equities market.

[BlackThought]

i'm bearish here for a daytrade

[Cobra]

http://online.wsj.com/mdc/public/page/2 ... nav_2_3022

Big time institutional money flow out of, and retail money into, SPY

not high enough to raise red flag, i think.

[99er]

SPX
All Aboard!
http://99ercharts.blogspot.com/2011/06/spx_4158.html
Downtown Express...

[BullBear52x]

SSO triple tops? bears final wish.

[Tabby]

not sure why u guys are bearish on this tape... volume is good, breadth is decent plus we all know that fund managers are "painting the tape" for end of quarter. this is the time for us little guys to take advantage of it because we are nimble ... not fight it !!!

BINGO.
You hit the right notes.

[Cobra]

still looks like a breakout on the upside, but statistically it's very rare for SPY to up and up from here, so I suspect a breakout, if any, could be a head fake. that said there're always some exceptions, so I wouldn't think of shorting the breakout for sure.

[PRI]

SPX
All Aboard!
http://99ercharts.blogspot.com/2011/06/spx_4158.html
Downtown Express...

Hi 99,
Would you mind posting a RUT or IWM "Bat" chart?
Thank you!

[agnosia]

this rally is headed to 1295 /es.. the 150sma from the daily. that's a good place to short or sell longs..

[Anaconda]

this rally is headed to 1295 /es.. the 150sma from the daily. that's a good place to short or sell longs..

Yes. That's been my plan, as well.

[Cobra]

breakout, now let's see if this breakout is for real or like what I said, a head fake.

[lmcfester]

Cobra,

You mentioned you don't see a red flag with the SPY institutional MF (selling on strength). What UP/DOWN ratio DO YOU see as a red flag?

Thanks.

[99er]

PRI:

RUT
Thanks for asking.
http://99ercharts.blogspot.com/2011/06/rut_28.html
Just about there.

[BullBear52x]

You ain't no real bear if not here and not now.

[Anaconda]

this rally is headed to 1295 /es.. the 150sma from the daily. that's a good place to short or sell longs..

Yes. That's been my plan, as well.

Correction: my trigger is S&P, not emini.
A.

[agnosia]

this rally is headed to 1295 /es.. the 150sma from the daily. that's a good place to short or sell longs..

Yes. That's been my plan, as well.

since we are both expecting the same level it probably won't happen. lol.

we may just end up at my R3

R3-> 1291.50-1292.50

[PRI]

PRI:

RUT
Thanks for asking.
http://99ercharts.blogspot.com/2011/06/rut_28.html
Just about there.

99,
Thank You for posting!
I agree this one is hours away from a good sale.

[Tabby]

You ain't no real bear if not here and not now.

Correction,
This is Scooby Doo Snake board. No bears or bulls plz, only snakes, up to 1298.

[Cobra]

seems like a head fake or at least it's not a strong breakout. still statistically, it's very rare to up huge here. Lunch time, see you later.

[BullBear52x]

You ain't no real bear if not here and not now.

Correction,
This is Scooby Doo Snake board. No bears or bulls plz, only snakes, up to 1298.

Ok Snaky it here on the down side