09/08/2011 Intraday Watering

[billow]

covered before the cliff
did two bad decision today
1. short too early, clearly not a good entry point, need more patience.
2. cover too early, well, the O8 talk tonight really got me
wasted at least 75% of gain, damn

[KENA]

The mkt is just about dn to the 1185/80 area.I may be adding to my SPY puts in this area and maybe some protective calls.Wait and see.

[KENA]

BB52 you made your projections.

[Rocket_Man88]

feels no good, still likely down. hopefully this time I could be right a little bit.

Cobra: Methinks you are right:

Intraday internals:
Advance decline weak.
Net advancing volume weak.
Tick trying its best to hold the 50 yard line.
VIX at 41. (correction: VXX 41. VIX 34)
Dollar not cooperating with SPX rally.
Bonds turned.
Wait a minute, I see ONE thing holding this rally up: thin air.
The internals need to turn soon, else get out your parachutes.

http://stockcharts.com/h-sc/ui?s=SPY&p= ... =243368793

Very timely post and helpful chart. Thanks.

[BullBear52x]

BB52 you made your projections.

Thank you

Where are we now? Fib fan support trade below here you see where the green line is.

[quientuves]

Bernanke's time... I was thinking he could change the mood of the day or at least give some peace to the market, but... I'll keep my money with me. It's cold out there.

[Cobra]

so far the rebound looks like a Bear Flag. Not sure.

[uempel]

Update, SPX out of ellipse

SPX14.png

Master, you are so cool.

Tks, but I'm not that cool... I don't know if the zigzag was just a zigzag and SPX will go back into the ellipse. More nervous than cool!

[gabor]

I expect further acceleration of selling on Friday. 911 anniversary will be on Sunday. Probably nobody wants to keep long position.

[Al_Dente]

feels no good, still likely down. hopefully this time I could be right a little bit.

Cobra: Methinks you are right:

Intraday internals:
Advance decline weak.
Net advancing volume weak.
Tick trying its best to hold the 50 yard line.
VIX at 41. (correction: VXX 41. VIX 34)
Dollar not cooperating with SPX rally.
Bonds turned.
Wait a minute, I see ONE thing holding this rally up: thin air.
The internals need to turn soon, else get out your parachutes.

http://stockcharts.com/h-sc/ui?s=SPY&p= ... =243368793

Very timely post and helpful chart. Thanks.

Thanks Rocket Man. I like your logo. Very Hunter S. Thompson.
Looks like we’re flagging back up to resistance. We’ll see if the internals can improve.

My internal look is mostly just price and volume based, which cobra does better with his candle analysis and ChiO and etc., but it helps me see what’s behind the curtain; if the emperor has clothes/no clothes.

Here’s the 30 with my doodles.

http://stockcharts.com/h-sc/ui?s=SPY&p= ... =242568528

[Cobra]

key time, cannot breakdown the green line below decisively then the pullback could be over.

[Cobra]

incoming. please hold...

[uempel]

Monthly SPX is watching Bernanke's speech from the lower BB13/1 band:

SPX13.png

I love your obsevations. Did you learn is sign from somewhere or you just discovered.

I don't remember if I found that myself or picked it up from someone. Fact is that BB13/1 on all time frames (monthly, weekly, daily) in combo with MA 9 is used very frequently. Great thing about stockcharts is that Ican play around and test all kinds of indicators. Downside is that I don't sleep enough - unless I'm away in a place without access.


By the way, 1185 is support!!!!!!

[wayne0708]

Cobra:
Please explain why?

[Cobra]

volume surge, bulls are defending here. let's see the next few bars.

[Cobra]

Cobra:
Please explain why?

every time revisit the previous extremes there's a chance of reversal, plus I see clear 3 push down here, so no decisive breakout means bulls are about attacking.

[BullBear52x]

Bad bad bears

[uempel]

Monthly SPX is watching Bernanke's speech from the lower BB13/1 band:

SPX13.png

I love your obsevations. Did you learn is sign from somewhere or you just discovered.

I don't remember if I found that myself or picked it up from someone. Fact is that BB13/1 on all time frames (monthly, weekly, daily) in combo with MA 9 is used very frequently. Great thing about stockcharts is that I can play around and test all kinds of indicators. Downside is that I don't sleep enough - unless I'm away in a place without access.


By the way, 1185 is support!!!!!!

[Cobra]

nice bull bar, need a follow through the next bar, I expect red line above to be tested and broken, then we'll see.

[BullBear52x]

My crystal ball telling me that these support will be broken.