06/07/2011 Intraday Watering

[Cobra]

Gap up open, within yesterday's range, so chances are high that the gap will be filled and the day could be a range day. My feeling is the Global ES looks like more on the upside...

[chickencoop]

morning, everyone!

[silverharp]

DX either has a double bottom or a bit more down on an activated bear flag (intraday) will be interesting to see how it affects equities

[99er]

Good Morning.
Okay...China now says it's alright for the US to have a lower Dollar...
http://99ercharts.blogspot.com/2011/06/eurusd_4333.html
And one reads Chinese from right to left.

[99er]

ES
Okay...is China now saying that equities should go up?
http://99ercharts.blogspot.com/2011/06/es_7562.html
One does read Chinese from top to bottom too.

[gabor]

Cobra, do you see the potential expanding triangle pattern in the daily sp500 chart? This could be a continuation pattern for the uptrend.

[cougar]

Good morning!
Have a good and profitable "Bernank Day"!!!

[Cobra]

the open. remember the Phantom bar I pointed out yesterday? Yeah, we're there now.

[Cobra]

Cobra, do you see the potential expanding triangle pattern in the daily sp500 chart? This could be a continuation pattern for the uptrend.

I don't see.

[HK88]

Bernanke speech today @3.45 pm ET, info only for those interested

[agnosia]

the open. remember the Phantom bar I pointed out yesterday? Yeah, we're there now.

nice one cobra. we didn't get that phantom on the /es futures.

[cletus]

a

[Cobra]

Bernanke speech today @3.45 pm ET, info only for those interested

what can he say other than printing more money? Look at US$ now, drop like a stone.

[Cobra]

the open. remember the Phantom bar I pointed out yesterday? Yeah, we're there now.

I believe you have misinterpreted it.

I know you consider it as resistance which I agree.

[gabor]

Cobra, do you see the potential expanding triangle pattern in the daily sp500 chart? This could be a continuation pattern for the uptrend.

I don't see.

It is here. I do not know how often it is, but Elliott has it in his book.

[soku]

cobra, u in a hurry or some kind?
today's opening post is really really brief. i didn't see u comment on major distribution yet.

[cletus]

IYR volume based trading model

when price trades above/below blue line and volume > 2 M, mark as buyer/seller based on whether it's under/over

[99er]

SPX
What is "Up" in Chinese?
http://99ercharts.blogspot.com/2011/06/spx_07.html

[Cobra]

wild guess, no evidence: more up.

[cletus]

Today's cycle high is 10:30 EST and the cycle low is expected at 13:15 EST. These cycles have been working. Let's see where the market is at 10:30 EST.

Theoretically, could be a burst to the upside into 10:30, followed by a gap fill and a new low by later today to get pos divergence, and a rally into the close. But, the top cycle at 10:30 could be blown through if it's a trend day.