01/13/2012 Intraday Watering

[jarbo456]

bears definitely not a winner today...as of yet.

AUD/JPY still back in that range...just a magnet for the price...and while in the box, it's just chop chop for weak bulls and lazy bears...

That looks like a complex H&S top.

Forgot to mention, a complexe H&S top has a very high success rate. Thanks for showing that chart, otherwise I wouldn't know.

indeed...but we need a clear break below the "box" to confirm the signal.

[tdo722]

bears definitely not a winner today...as of yet.

AUD/JPY still back in that range...just a magnet for the price...and while in the box, it's just chop chop for weak bulls and lazy bears...

That looks like a complex H&S top.

Forgot to mention, a complexe H&S top has a very high success rate. Thanks for showing that chart, otherwise I wouldn't know.

indeed...but we need a clear break below the "box" to confirm the signal.

No we're missing 1 more right shoulder.

[stucap]

Playing both sides today...just went short with stop at the gap.

i'm short 1280 ES, target: break low, stop 1284.

If bears fail again, make sure you get out from in front of the BUS to 1300+

[jarbo456]

we're about to get a cross supporting this move up...if there's a gap fill, bears are toast.

[TraderGirl]

Don't know if the market will continue up from here, but looking at the wave structure, we had a higher wave yesterday (higher than the morning high of the 10th) so that could have been an ending wave. Now we could have started wave a or 1, and of course we have to have wave b or 2 wave up in order to get the c or 3rd wave down, so I will wait to see if we get further waves down....???

So far, we have had further waves down, so I will go with that until it doesn't make sense anymore...

[Al_Dente]

STUCAP
Note the previous times straight volume (not ratio) spiked like that (pink circles)
Note last times $NYAD looked that bearish (blue circles)
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =253530436


http://www.youtube.com/watch?v=qDQpZT3GhDg

[SB73]

Playing both sides today...just went short with stop at the gap.

i'm short 1280 ES, target: break low, stop 1284.

If bears fail again, make sure you get out from in front of the BUS to 1300+

Stop is in place no worries.

[GreedyKojiro]

So who gets the downgrades today in Europe? 3PM is the fun time!!!

I don't know but the S&P has been quiet lately while Fitch already released their updates. Today at close to get the news seems right. Markets need 3 days to digest anyway

[tdo722]

So who gets the downgrades today in Europe? 3PM is the fun time!!!

I don't know but the S&P has been quiet lately while Fitch already released their updates. Today at close to get the news seems right. Markets need 3 days to digest anyway

I need a job at S&P to help my sucky sucky trading skills.

[jarbo456]

what's a green hanging man followed by yet another long shadowed red doji pattern called?

[SB73]

When it goes up you just have to get on board because it won't take a breather. When it goes down lots of stops are made to allow new entries.

[stucap]

what's a green hanging man followed by yet another long shadowed red doji pattern called?

successful manipulation of equity markets

[Al_Dente]

“Any price spike that is too high, too fast, is short covering…”
“If it’s too violent and too vertical, it will usually exhaust” [Al Dente]

[99er]

Update

ES http://99ercharts.blogspot.com/2012/01/es_1434.html

Back testing neckline.

[lqiantobe]

Corba~ It's hard for me to tell top or consolidation then breakout(upside). E.g. YGE, can you tell is it near the top?

[jarbo456]

When it goes up you just have to get on board because it won't take a breather. When it goes down lots of stops are made to allow new entries.

when it goes down, you'll get whipsawed to death. you have all of about 2 minutes to make a decision to cover before the market marches up without looking back.

who cares about timing a buy...buy at any time and it'll go green in a bar or two.

[CognitiveDissonance]

I'll be surprised if we go above 1290 spx today. If we close there, I'm going short over the weekend. US closed on Monday but Asia and EU are open.

[BullBear52x]

“Any price spike that is too high, too fast, is short covering…”
“If it’s too violent and too vertical, it will usually exhaust” [Al Dente]

but the SPY can not be exhaust under 5dma, this looks like out of energy to continue, they need to pick a speed and trade above 5dma, because Da bears like what they are seeing, you don't have to go in detail on $NYHL to see that the trend is changing, remember my $NYHL neon light? just eyeball it you can see it clearly, we are now under 5dma a trend is down per my definition of short term trend.

[Al_Dente]

So who gets the downgrades today in Europe? 3PM is the fun time!!!

I don't know but the S&P has been quiet lately while Fitch already released their updates. Today at close to get the news seems right. Markets need 3 days to digest anyway

...I need a job at S&P to help my sucky sucky trading skills.

TDO:
Have patience young one (For me, Cobra is best teacher for patience)
Today is bad for you? Tomorrow (Tuesday) will be much better
You’ll get ‘em; you’ll get ‘em good...
PS: I got my face ripped off already today in ZSL…I’ll get ‘em tomorrow too…I'll get 'em good

http://www.youtube.com/watch?v=XsYJyVEU ... re=related

[Mr. BachNut]

Another data point for turn study. In addition to watching levels on McClellan Oscillator, I also watch trends for signs of reversal. Today we have a crossover down on a rising bottoms line. See bottom pane on chart. This is a bearish development. What is missing is that it is not coming from an overbought peak. So, I will look for confirmation (usually a jiggle up followed by a lower low) perhaps next week. You can see how prior trends were drawn on last year's cycles. I have found this type of study to be OK in terms of predictive value working well sometimes but not always buyer beware.