10/10/2011 Intraday Watering

[bullbear52]

spxcycle.png

I am looking for a turn down but it will not confirm my believe until a trade back below 118.

[ActiveTrader]

spxcycle.png

I am looking for a turn down but it will not confirm my believe until a trade back below 118.

I agree, this is not the kind of market to front-run or you may be in for some major pain.

[Cobra]

trend line again. very boring day.

[spuderik]

spxcycle.png

I expect it to occur, and I expect a higher low to be established somewhere near 1130 (over the next week), and thus an inverse H&S shoulders pattern that'll eventually carry the market back above 1200 (over the next month). if we break above 1200 here it would be unusually bullish and would make me think that the 200 day MA would definitely come into play over the next month.

[bullbear52]

Since when a bail out create growth but a necessity to prevent a hard landing, Euro will get devalue further in turn will strengthen the dollar.

[spuderik]

trend line again. very boring day.

Not to mention absolutely dreadful volume so far.

[brentos]

Today's action has me contemplating some things:

1. The channel (dotted) within the channel (solid pink) in SPY (below)
- previous highs have alternated low (1) to high (2)
- failing to make it to the higher channel 2 today or tomorrow would be a weaker bounce so more likely more down
- If we make it to the higher channel's 2 - good risk reward on a reversal or playing the breakout

2. I have not seen all of the phantom bars mentioned but it is interesting that they all reach to an area near yesterday's closes.
3. if we close in this general area and open with a gap down, we could be looking at an island reversal.

- currently on the sidelines but leaning short

sorry - here is chart with the 1 and 2 annotated

[bullbear52]

I see sell program start to pick up now.

[CognitiveDissonance]

Too many p bars on spy. latest one shows right around 115.5. As I write this I'm showing two p bars next to each other.

I closed out of FAS.

[Al_Dente]

spxcycle.png

I am looking for a turn down but it will not confirm my believe until a trade back below 118.

BB: Yea, tick just bit a big red chunk; am concerned about TLT
If we go lower low SPY or below VWAP it could hit hard and fast…. But then..…

U notice past two weeks: When bull inclined, nyadv (and yr rsi) can show 1, 2, 3 neg diverg, then SPY bobble-head to higher highs or double/triple tops
When bear inclined, like last week, nyadv (rsi) shows just one SINGLE neg diverg, and boom, down swiftly

[Dow Trader]

Dollar update

[CognitiveDissonance]

Too many p bars on spy. latest one shows right around 115.5. As I write this I'm showing two p bars next to each other.

I closed out of FAS.

[CognitiveDissonance]

Too many p bars on spy. latest one shows right around 115.5. As I write this I'm showing two p bars next to each other.

I closed out of FAS.

Here's a shot of the parallel p bars

[bullbear52]

spxcycle.png

I am looking for a turn down but it will not confirm my believe until a trade back below 118.

BB: Yea, tick just bit a big red chunk; am concerned about TLT
If we go lower low SPY or below VWAP it could hit hard and fast…. But then..…

U notice past two weeks: When bull inclined, nyadv (and yr rsi) can show 1, 2, 3 neg diverg, then SPY bobble-head to higher highs or double/triple tops
When bear inclined, like last week, nyadv (rsi) shows just one SINGLE neg diverg, and boom, down swiftly

the market is meant to be unpredictable, that's why we are here right? it's exciting to think that you can chart yourself to galaxi far far away

[CognitiveDissonance]

Too many p bars on spy. latest one shows right around 115.5. As I write this I'm showing two p bars next to each other.

I closed out of FAS.

Here's a shot of the parallel p bars

Just for kicks let's do triple parallel p bars

[Dow Trader]

Dollar 15-min

[uempel]

Funny green sequence points to +/- 1190...

[bullbear52]

I am smiling again this hour, may crying in few hours

[spuderik]

Too many p bars on spy. latest one shows right around 115.5. As I write this I'm showing two p bars next to each other.

I closed out of FAS.

I see the IWM phantom bar someone mentioned earlier now... at 65.54. Has anyone ever put any real data together regarding these bars? I have seen them forever but never kept track of them. All the ones from today are near yesterday's close so I guess we'll have to wait and see.

[KENA]

Second P Bar at about 115.63 today..I had one earlier this morn.Lets see.

To BB52x..Why did you have to re-regisrer.What happend.?????