03/31/2011 Intraday Watering

[Cobra]

Small gap down or flat open, therefore the gap if any should be filled and the day likely be a range day. Please check the Rydex chart I post last night at my blog (http://cobrasmarketview.blogspot.com/20 ... llish.html), and here is a little statistics from Sentimentrader: This is the first time in five years that the Beta Chase has been above 4 for three days in a row, and the RSI Spread has also been above 90 during that same span. All but one of the others led to either a short-term pullback or a failed rally attempt (3/20/03, 6/4/03, 9/4/03, 5/28/04, 11/2/04 and 3/21/06).

Institutional actions from stocktiming. Not much accumulation but it's the sharply decreasing selling (this is quite normal) that lift the market, so the chart doesn't tell me much now.

4.png (32.42 KiB) Viewed 15826 times

5.png (28.01 KiB) Viewed 15826 times

[brownstein00]

love this blog and your stats and insight...thank you

[alvian33]

Thanx cobra, based on that how big was the pull back in the past love ur blog as well

[99er]

Morning.
Nice day to be a bear.
/ES: http://99ercharts.blogspot.com/2011/03/es_31.html
Good luck.

[Cobra]

Thanx cobra, based on that how big was the pull back in the past love ur blog as well

I don't have statistics.

[99er]

EURUSD
Dollar catching a bid.
http://99ercharts.blogspot.com/2011/03/eurusd_31.html

[99er]

/ZN
And look at the 10-Year Note.
http://99ercharts.blogspot.com/2011/03/10y_31.html
Fun day!

[Cobra]

The Open

[Cobra]

The whole consolidation area yesterday is the resistance. Let's see if bulls can break through. The good news is QQQ looks like a breakout on the upside pretty likely.

[Dow Trader]

Watching Vix hourly MACD Hist. if it closes above zero, then we will have an intresting day

[99er]

SPX
WW targets.
http://99ercharts.blogspot.com/2011/03/spx_31.html

[agnosia]

chop fest. time to watch from the bleachers... i think we get down to 1314 today after we're done scaring the weak shorts.

[Dow Trader]

SPX
WW targets.
http://99ercharts.blogspot.com/2011/03/spx_31.html

I see in your chart that this rally have 2 sets of 4 red candles in a row that did not have a lower low for them, and that means that this rally is weak with target at least the 2nd set which is at 1305 area

[BullBear52x]

MN,

FAZ is a BUY

[uempel]

SPX at 1325/32:

[Cobra]

Don't forget the oil, the chart is bullish. You guys must be rich as no one complains about the gas price. I know Uempel travels with balloon so gas price doesn't matter.

[stocksage]

http://stockcharts.com/charts/indices/McSumNYSE.html

Getting overbought. Be ready for a pullback to buy.

[AK84]

Hi Cobra,

Good Morning!! Absolutely love this blog and cant live wihtout it during my trading day!

Quick question on tomorrow.

1. As it is the jobs report, we know that usually market fades one way or the other. Open high ----close low or vice versa.

2. Tomorrow is April 1 , first day of the month and Q2 and seasonality is v strong.

Given these 2 conflicting points above, how would you position yourself going into tomorrow and next week? I understand long is the name of the game but are we waiting for a couple of more days pullback or a test of 3/16 lows in order to buy ?

Thanks.

[BullBear52x]

Sell in all 3 majors.

[thelefteyeguy]

we canadians get shafted on gas prices...surprisingly if you travel about 20mins north of Stouville...gas is about 5% cheaper...high tax and all the gas companies fixing prices