05/10/2011 Intraday Watering

[agnosia]

still believe the breakout will be on the upside. still cannot believe the market would pullback hard from here.

don't worry cobra there will indeed still be a breakout but i believe it will come tonight in the asian/european sessions so if you do not have futures access maybe hold a small long into tmrw.

it's the same story .. when we can't get through resistance , gap up during low vol overnight session.

[99er]

jyao: "Am i wrong?"

These MACD histograms are helpful but give different signals in different time frames. Can't say if you're right or wrong right now but what I focus on--the 60-minute chart--there's a bearish divergence. So you're right. On the 5-minute, I'm wrong.

[StrikePrice]

Agreed, market needs to gap over resistance, same as always.

AAPL can't catch a bid with MSFT and GOOG news.

I wonder which way the market breaks once AAPL picks a direction?

[cletus]

targeting IWM 85.50 for a bigger short-term pullback but top won't be until higher up

[jyao]

jyao: "Am i wrong?"

These MACD histograms are helpful but give different signals in different time frames. Can't say if you're right or wrong right now but what I focus on--the 60-minute chart--there's a bearish divergence. So you're right. On the 5-minute, I'm wrong.

Thanks

[Mr. BachNut]

VIX starting to tick down. Suggests market to move on up.

[Cobra]

measured move target if indeed breakout.

[99er]

Crude
Rammed up right into the 61.8% retracement.
http://99ercharts.blogspot.com/2011/05/crude.html

[Mr. BachNut]

VIX still dropping.

[Cobra]

finally. is a simple breakout this difficult?

[lostlamb98]

In Cobra, we TRUST!!!

[biotrader]

Seems like we may have an inverted SHS on the hourly and the correction is over

[nikman]

finally. is a simple breakout this difficult?

Wow! excellent call. I should have had little more confidence in your call. Now SPY looks to have an IHS... wow!

[Cobra]

I see a pullback somewhere around here at least a consolidation. whether this is the final push up, I'll have to collect more evidences. so first let's wait to see how pullback goes, if any, of course.

[agnosia]

great call cobra... thanks for your expertise ..

[agnosia]

big 4.5K barrier at 1355 on the /es DOM.

[AK84]

LONGGGG LIVE DA COBRAAAA!!!

[cletus]

Buying some IWM puts here. 85.50 practically hit with resistance there, but I don't think the final top is in, and I'm willing to hold those puts for awhile if a pullback doesn't occur right away. This is a short-term trade.

[soku]

wow, the break out is coming. not expected side tho.

With One Trading Hour Left, NYSE Volume Is 50% Of Average
as i mentioned yesterday, bulls don't need volume nowadays

[agnosia]

dumping my long order at /es 1356.25 and also have an outstanding sell short at 1356.50. there's a gap at 1357.5 and the bulls have magic on their side but not enough i believe to fill this gap..