03/10/2011 Intraday Watering

Post by **Cobra** » Thu Mar 10, 2011 12:58 pm

Well, too bad, another failure.

greenback · Post by **greenback** » Thu Mar 10, 2011 1:00 pm

I guess this is so-called don't fight the trend ...

Post by **Cobra** » Thu Mar 10, 2011 1:04 pm

Resistance area now.

Post by **Cobra** » Thu Mar 10, 2011 1:05 pm

greenback wrote:I guess this is so-called don't fight the trend ...

Just sometimes it's hard to see the trend before too late.

KENA · Post by **KENA** » Thu Mar 10, 2011 1:07 pm

Lots of time when we have a nice slow up or dn trend like todays up trend it will continue this way.

BullBear52x · Post by **BullBear52x** » Thu Mar 10, 2011 1:08 pm

here sample of my new short on INTC, short at SMA and pay attention to RSI 50

Post by **Cobra** » Thu Mar 10, 2011 1:09 pm

The pullback this time should be a little larger if I may guess because the red bar seems larger and larger.

simpletrader · Post by **simpletrader** » Thu Mar 10, 2011 1:10 pm

bear flag breaks down soon

zombiebraingoo · Post by **zombiebraingoo** » Thu Mar 10, 2011 1:10 pm

1303 is crucial close -

dow is coming back into its channel...

USD is key to all this today. Will it recapture it's wedge and bounce to the top of it or is this a retest that will breakdown again...hmmm

zombiebraingoo · Post by **zombiebraingoo** » Thu Mar 10, 2011 1:20 pm

one positive is that the spx tested the 55ma and bounced right off it (textbook).

I'd have to say that unless the 55ma breaks this is just a corrective wave and not an impluse.

uempel · Post by **uempel** » Thu Mar 10, 2011 1:20 pm

Yeah, 1304 is crucial. There's this red bar which has to be pierced.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... =190377100

zebra · Post by **zebra** » Thu Mar 10, 2011 1:26 pm

vix didn't go up much today in terms of %.

simpletrader · Post by **simpletrader** » Thu Mar 10, 2011 1:26 pm

back test the broken trendline, then down

Travelfrog · Post by **Travelfrog** » Thu Mar 10, 2011 1:29 pm

Think we get a slight pullback down here "b" then higher to 1305 "c" then we head south.

BullBear52x · Post by **BullBear52x** » Thu Mar 10, 2011 1:31 pm

zebra wrote:vix didn't go up much today in terms of %.

ViX will not move much here, ones who want to hedge their position already do so in the past few day, until new option date, week or month.

zebra · Post by **zebra** » Thu Mar 10, 2011 1:36 pm

BullBear52x wrote:
zebra wrote:vix didn't go up much today in terms of %.
ViX will not move much here, ones who want to hedge their position already do so in the past few day, until new option date, week or month.

i see. thanks!

zombiebraingoo · Post by **zombiebraingoo** » Thu Mar 10, 2011 1:36 pm

Travelfrog wrote:Think we get a slight pullback down here "b" then higher to 1305 "c" then we head south.

Travel - head south to what latitude in your opinion?

As I said, I'm still bullish until the 55ma is decisively broken.

Rodrigo · Post by **Rodrigo** » Thu Mar 10, 2011 1:38 pm

Hi everyone...

New VIX channel

BullBear52x · Post by **BullBear52x** » Thu Mar 10, 2011 1:43 pm

Rodrigo wrote:Hi everyone...

New VIX channel

nice channel, as long as it can stay above moving average, bears are in good shape.

Travelfrog · Post by **Travelfrog** » Thu Mar 10, 2011 1:43 pm

zombiebraingoo wrote:
Travelfrog wrote:Think we get a slight pullback down here "b" then higher to 1305 "c" then we head south.
Travel - head south to what latitude in your opinion?

As I said, I'm still bullish until the 55ma is decisively broken.

I think 1st target is 1282 which is 100% fib extension for wave C correction and is 4.5% from top so would satisfy for a reasonable correction. If 1282 does not hold, I would be inclined to target 1254 which is 161.8% fib extension and 6.7% correction from top. 1282 does appear to have some support looking back.

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03/10/2011 Intraday Watering

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