03/11/2011 Intraday Watering

[BullBear52x]

clap!I am out, big lot selling.

[Cobra]

Just info, little Fib.

[EkOnkaar]

Hi, guys, I'm back. I see a nice trend line here and pullback to OR high and held, not bad so far.

Would you expect the 50dma to provide resistance here?
Ek

[KENA]

Come on bulls.. We have good breadth it is higher as price made new lows..Tick is higher...VOLD is positive...What more do you want... Lets keep it over 1300 and have a good next week.

[uempel]

ES stuck @ 38.2 fib. Looks like a good point to short...

Nice chart.

[Cobra]

Still on trend line. Just any time a retest of the previous high, there's a chance for a reversal. For now, let's wait.

[Cobra]

Hi, guys, I'm back. I see a nice trend line here and pullback to OR high and held, not bad so far.

Would you expect the 50dma to provide resistance here?
Ek

Yes, MA50 is now the resistance. But I don't agree with Uempel that the daily chart doesn't look bad assume the market close right here.

[Cobra]

ES stuck @ 38.2 fib. Looks like a good point to short...

Hi, Su, welcome aboard. You're late!

[hdenandy]

Re: 03/11/2011 Intraday Watering
by uempel » Fri Mar 11, 2011 2:04 pm

hdenandy wrote:
My market (the UK), now closed.
As so often happens, as soon as we close at 4.35pm (GMT), the DOW and SPX move upwards.
Strange eh ?

Ask your broker if he can offer you CME products online.



Can you please clarify ??
Cheers.

[BullBear52x]

Selling pressure here, look at VIX, it's cleeping up, not good for BULLS.

[uempel]

Tradersu, don't forget to check the 55 DMA on the SPX. Unless the 55 is broken this market will go higher. I'm not going to short unless a) market makes big bounces up to SPX 1320/30 or b) if it breaks below the 55. I'm out of the market now, closed my longs.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... =225986088

[Cobra]

Here comes the retest of the previous high, but I don't see any weakness here yet.

[Me XMan]

We have blast off people!

Beers on da house!

[KENA]

Time for me to log off.Have to go in town and take the wife out to lunch again.Mkt. is looking better.I will hold all my positions over weekend.See you next week. You all have a good one.

[uempel]

Re: 03/11/2011 Intraday Watering
by uempel » Fri Mar 11, 2011 2:04 pm

hdenandy wrote:
My market (the UK), now closed.
As so often happens, as soon as we close at 4.35pm (GMT), the DOW and SPX move upwards.
Strange eh ?

Ask your broker if he can offer you CME products online.



Can you please clarify ??
Cheers.

If your broker is linked up with CME you can trade SPX and NASDAQ minis and 1000 other US products 24h a day. I don't know who provides this kind of service in the UK, but you'll certainly find someone in London or Edinburgh who does. Check it out.

[shumushu]

I think we are going to go up some more to spy 131 on the 50day sma I mentioned this morning. I am still short term bearish until we fill the gap.

[Cobra]

I see real resistance ahead.

[hdenandy]

Cheers for your reply uempel.

We have 'contracts for differences' in which we can trade the markets. (IG Index is 1 provider)
I presume this is what you are meaning.

[Me XMan]

Looking like IHS coming and SPY going to 133.

I see real resistance ahead.

[Rezito]

If SPY stops at resistance of 131 and we gap higher Monday because of some political event turning positive then we'll have an island reversal, but that's a lot of ifs

I'm waiting to see if we can have a solid break above 131. I'm holding FCX April puts from yesterday.