04/18/2011 Intraday Watering

[Cobra]

Gap down open below the last Friday's low, so there're chances that the gap will not be filled. From AUDJPY, it doesn't look good too, US$ is strong by the way.

Institutional actions from StockTiming.

[maldini]

Gap down open below the edge of last Friday's low, so there're chances that the gap will not be filled. From AUDJPY, it doesn't look good too, US$ is strong by the way.

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Institutional actions from StockTiming.

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the named 2nd leg?

[FJoe]

Longer term a close below 1300 may mean the top in February was the top and this top could hold for months if not years. Conversely, if we now trade above Friday's highs we likely go over 1400 in the next few months.

It is very rare to get a 2 to 3 month rally without any pullback during that period...if that happens you usually get a big pullback (see Feb. to Apr. 2010)...we have now really had 2 back to back periods without a huge pullback (since Aug. 2010)...although the big pullback we should get likely started in Feb of this year. Historically, this says we should expect a big correction now. Just go back and look at charts (the key is no pullback during the 2-3 month rise), and if you get a move up without any pullback during the move up, look out. A similar thing happened from March 2007 to June 2007 also.

[alvian33]

GM Cobra,

since we broke friday's lows, now the sistem will be short if we close in red correct? so its safe to bet on the short side? thanks

[99er]

Morning, Taxpayers.
/ES update: http://99ercharts.blogspot.com/2011/04/es_18.html
Don't you wish we all had private jets to depreciate?

[can2000]

GM, and Thanks.

[cletus]

This looks like wave 3 of wave 1 of the new bear market. Although I must say, GOOG is sitting right at trendline support. If it breaks down, a bear market in the US is confirmed.

[Cobra]

GM Cobra,

since we broke friday's lows, now the sistem will be short if we close in red correct? so its safe to bet on the short side? thanks

The close is till 7 hours away, too early to say. For now all I can say are bears look good, but nowadays you know, simply there's no downtrend day ever, so you never know if we have yet another V reversal today.

[champix]

GM,
Rumors on greek debt restructuring + USA outlook revised to negative by S&P.... Bear today ! but how long?

[alvian33]

I think today bears will put some show, gc looks interesting as well

[maldini]

GM Cobra,

since we broke friday's lows, now the sistem will be short if we close in red correct? so its safe to bet on the short side? thanks

The close is till 7 hours away, too early to say. For now all I can say are bears look good, but nowadays you know, simply there's no downtrend day ever, so you never know if we have yet another V reversal today.

[FJoe]

Very true Cobra,

But the negatives are AAPL, GS, Copper, $BKX, EURUSD, TLT (inverse to equities and is breaking out). If we were on our way up to new highs we should see an up day today...and today looks like the opposite.

[StrikePrice]

GM,

Looks like today begins the major selling.

[Cobra]

the open.

[99er]

EURUSD
H&S target of 1.40.
http://99ercharts.blogspot.com/2011/04/eurusd_18.html

[KENA]

This sure is a quick way to go back and test the 1300 area.

[Cobra]

bigger picture.

[Cobra]

NQ is testing the support now.

[Mr. BachNut]

Closed TVIX long from Friday at profit. Experiment worked. Did not expect VIX to rebound so much, but caught a break.
Do not like TVIX security though. Intraday tracking of VIX was not great. In fact, way off at times.

[shumushu]

Vix up way too much, I think S&P will bounce very soon this morning. Short term trend is down, flag confirmed.