04/18/2011 Intraday Watering

[uempel]

So far SPX has not shown much enthusiasm to move lower, but I'm still waiting for a slighly lower bottom, somewhere around 1290. Will it be tomorrow, or am I completely out of sync

[Cobra]

there're 2 possibilities here, I think the breakout on the upside has better chances.

[uempel]

Bye guys, I'm hungry and thirsty and I'll check back AH.

[BullBear52x]

Bulls need to work that RSI

[chickencoop]

Bye guys, I'm hungry and thirsty and I'll check back AH.

take care. market is not going anywhere at this rate.

[Cobra]

still prefer the upside breakout. but how far the breakout would go, that'd be a question. we'll see if indeed breaks out.

[99er]

SPX
Back test of neckline.
http://99ercharts.blogspot.com/2011/04/spx_2200.html

[Cobra]

indeed a breakout on the upside. the measured move target has now been fulfilled. now the question is the H&S bottom target. so far the market goes the most I'm afraid. nowadays simply lower odds win, all bulls need are just imagination. I'm so disappointed.

[Cobra]

i think bears fate is sealed with this phantom bar. too bad, just trade what you fear the most...

[chickencoop]

i think bears fate is sealed with this phantom bar. too bad, just trade what you fear the most...

RIP trend days. I sure miss you.

[Cobra]

head and shoulders bottom target has been met, I'm afraid, there's more on the upside.

[BullBear52x]

Nice pass by Bernanke long shot to wide reciever Geithner, at bears 1 yard line. 1st and Goal!

I have too much fun here, I need new short set up per se.

[Cobra]

OR high as resistance, if this bar has no volume, then finally we may see some pullbacks here. Let's wait.

[cletus]

Phantom bar would be a double bottom target if the lows are re-tested

[StrikePrice]

Bought SSO after two push down and set a Sell Limit at the open. Went to sleep. Just woke up and it literally just got filled.

That was a spec trade based on Cobra's calling the lack of trend days. Only made breakfast money.

This chart is why I didn't want to play today. Shows a lack of conviction on either side.

http://algofutures.com/wow-indices/wow- ... ing-chart/

I'm sticking by my prior call until the Fed announces QE3.

I was fun going back and reading all of today's posts. Cobra's got a great board.

[BullBear52x]

We would have divergence if not for that phamtom. well, nice play by bulls, but that doesn't stop me from going short right now. RSI is my guide on this one lot, good luck all I am out I will collect my due tomorrow.

[Cobra]

OK, i think chances are good that bulls may take a breath here before ANOTHER ASSAULT.

[StrikePrice]

Phantom bar would be a double bottom target if the lows are re-tested

Cletus,

Is there any other term used beside Phantom Bar?
Why do these happen and have they become more common since flash crash?

[Cobra]

if no bear counterstrike here, well, I don't know what to say other than soooooooooooooooooooooo disappointed in bears.

[agnosia]

i guess all the bears are still hibernating for the winter???? i am short from 1301.50. stop breakeven.