04/07/2011 Intraday Watering

[Cobra]

still cannot believe that nobody complains about oil price those days?

cobra, haven't you heard? oil prices are up because the economy is doing well

even better than 2007?

[Mr. BachNut]

The robots are churning.

272138350.jpg (97.46 KiB) Viewed 23344 times

[hdenandy]

by jamesmith » Thu Apr 07, 2011 3:19 pm

Cobra wrote:
still cannot believe that nobody complains about oil price those days?

i have to spend $50 to fill up my car's gas now



Lucky you !!
I have a medium sizish family car and it costs me around £80 (here in the UK) to fill up.
i.e. around $130 !

[abracadabra]

fight between bull and bear. it is good for bull.

[BullBear52x]

day trade and swing TZA BUY BUY BUY

[agnosia]

even better than 2007?

nice chart. it's amazing that nobody see's a problem with the reason oil prices jumped today - "momentum buying". i also don't get why eem is doing so well.

[koolblue]

WOW!

[99er]

RUT
Update.
http://99ercharts.blogspot.com/2011/04/rut_07.html

[BullBear52x]

FXP nice bull flag, maybe tomorrow on the break out BUY signals are in. FAZ looking good too, but not quite.

[Cobra]

even better than 2007?

nice chart. it's amazing that nobody see's a problem with the reason oil prices jumped today - "momentum buying". i also don't get why eem is doing so well.

I think there's a theory called inflation trade: when inflation rises so does everything including the stock market. So basically, QE3, good, because we have free money, no QE3, also good, because we have inflation!

[abracadabra]

so far, it is not bad for bull.

[koolblue]

SEE THAT? THE 5 MIN PROJECTION DOWN WAS THE INITIAL MOVE FROM 133.37 TO 132.26=0.11x 2.618 =0.29 and subtracting from the start of the projection gave 133.08! hit dead nuts!.. and that should be E of the triangle!

[90ufo]

the problem is still ChiOsc too high, so I kind think the market may continue down from here.

Cobra: I also noticed ChiOsc doesn't respond to sudden drop (spike down) well, I think it's because of ChiOsc its (3, 10) smooth factor
Today's high level could be a delayed reaction to yesterday afternoon's buying.

It's not about smooth. ChiOsc is MACD(3,10,1) on AD line. The AD is basically OBV but depends on how the bar closes. The closer the close to the bar high, the more bullish volume assigned. So, as for today, the sudden drop, yes, but it came with long shadow, so AD assigns the most volume to bulls (which makes sense), therefore you see even the market drops, AD still rises and so ChiOsc. So I think basically ChiOsc correctly reflects what's going on now.

thanks, I will forward this to chinese forum.

[BullBear52x]

Bearish formation line up so well, this is Swing trade. something is a bout to give. Thanks and good trading all.

[koolblue]

Hey, master! Didn't u have 134.58 or so on your radar from an inverted head n shoulders or something, or am i confusing you with someone else?

[Mr. BachNut]

If the market was overbought from the rally off the March bottom, the last 5-7 days of range trade plus today's mini-plunge should have worked a lot of it off. A deeper dip a la the Evil Plan would be healthy, but me thinks resistance to new highs will be wearing down soon. Makes the risk of shorting greater for longer than day trades.

[Cobra]

well, guess that's it for today, totally clueless today. Thank you guys, I'll see you tomorrow.

[agnosia]

even better than 2007?

nice chart. it's amazing that nobody see's a problem with the reason oil prices jumped today - "momentum buying". i also don't get why eem is doing so well.

I think there's a theory called inflation trade: when inflation rises so does everything including the stock market. So basically, QE3, good, because we have free money, no QE3, also good, because we have inflation!

so it's win win win ! everything is great, until one day it won't be

[99er]

SPX
Three targets.
http://99ercharts.blogspot.com/2011/04/spx_1892.html

[Travelfrog]

SPX
Three targets.
http://99ercharts.blogspot.com/2011/04/spx_1892.html

Hi 99er,

Do your charts ever have any upside targets?