02/28/2011 Intraday Watering

[Cobra]

Cobra it looks like bears are dead? lol

Not yet.

With tomorrow March 1, historically the funds buy big on the first day of MArch, so the bears might go into hibernation for a few days.

There's a catch, looks to me, every 6 or 7 consecutive up 1st trdaing day of the month, there're 2 consecutive down 1st day of the month.

[Cobra]

Yes, this could pretty much be the reversal I talked. 3 push up, overshot, then failed test of the previous high then rollback. Let's see.

[cletus]

The market retraces a bit and suddenly the bears are dead? lol. The market is stopping right at the resistance signal line. ie bearish. Even if the market touches the old high, it will only strengthen the sell off (double top)

[balance]

$TRIN is telling me, it's a quite 'distribution'...

[Cobra]

The market retraces a bit and suddenly the bears are dead? lol. The market is stopping right at the resistance signal line. ie bearish. Even if the market touches the old high, it will only strengthen the sell off (double top)

A 1%+ up day, the bears are pretty much dead. A failed gap today, then still there'll be a 2nd leg down. A so so day, then both bear and bull have chances.

[Travelfrog]

Have a strange SPX chart, is this a problem with proRealTime? Seems we keep getting a low of 1324.32

[Cobra]

some support here.

[Cobra]

I'll say a rebound of some kind here, then perhaps another leg down.

[huiwangren]

maybe the open price is a bottom

[Cobra]

Not sure if this is an EMA Gap long.

[BullBear52x]

I say we see the HI for the week, just kidding... we are heading lower, $TICK and $TICKQ and $VIX said so.

[99er]

jwishbone: "Hi 99er, thanks for posting your charts. They always look nice. Could you please put more comments to explain what you want us to see in your chart?"

I'll try to elaborate but more often than not a picture saves me a thousand words.

[greenback]

Short sales fell last month to the lowest level since 2007, NYSE Euronext says, as many bears threw in their hands and surrendered. Shorts did rise in the first half of February, but the long-short ratio is over 12:1; "With most companies in robust health it is not a target-rich environment.”

[greenback]

The Fed buys $6.69B in Treasurys maturing 2013-2015, of $38.868B submitted by dealers, in today's POMO

[TheGift]

And much more POMO coming.

[greenback]

Any credibility on this guy's analysis:

Raymond James' Jeffrey Saut thinks last week's drop in stocks was the beginning of a 5%-10% correction, believing that it would be rare to see the extreme bullish sentiment ahead of the sell-off worked off in a mere three sessions.

[BullBear52x]

And much more POMO coming.

agree, that's why I throw out all my long time frame chart and stick to 1m and 1h chart, daily is useless almost. GL

[Cobra]

Not sure about this L2 short either, better chance than EMA Gap long a moment ago.

[Cobra]

2 bar reversal and H2, could be bottomed there. A trade here requires a little trick by placing doubled stop loss in case a failed double bottom. A failled double bottom would be very good new for bears. Now it's good news for bulls.

[greenback]

Jan. Pending Home Sales: -2.8% to 88.9 vs. -3.2% expected, -3.2% prior (revised), -1.5% Y/Y.