02/28/2011 Intraday Watering

[BullBear52x]

IWM intraday bear flag break down!!! heads up longs.

[Cobra]

Anyway, the bigger picture, I'll assume today's high at least will be tested.

[Jennyahwu]

Cobra, do u think today is reverse day ? should we short ? thanks

[Cobra]

Cobra, do u think today is reverse day ? should we short ? thanks

No.

[BullBear52x]

Qs and Transportations is breaking down also !!!!

[Cobra]

Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.

[simpletrader]

Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.

from large time frame, it looks like a bull flag., intraday, a small down channel.

[Cobra]

Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.

from large time frame, it looks like a bull flag., intraday, a small down channel.

Normally, the rebound should be 2 legged, so I still assume today's high at least will be retested either later today or tomorrow, only after a 2 failed test, the market would then try the opposite direction.

[Simsonic]

Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.

from large time frame, it looks like a bull flag., intraday, a small down channel.

Normally, the rebound should be 2 legged, so I still assume today's high at least will be retested either later today or tomorrow, only after a 2 failed test, the market would then try the opposite direction.

I agree Cobra...it looks like a retest of these this afternoon or tomorrow, then we might see a bigger move either way.

[Cobra]

Today's was a typical 30 min OR breakout trade. The winning rate is above 80%. A failed OR breakout trade like today usually the market would come back to test today's high, I just check all the recent failed OR breakout trade...

[Cobra]

I'll assume the rebound here would fail.

[BullBear52x]

I'll assume the rebound here would fail.

$TICKQ is positive now, let see if Nasdaq and the Tech can pull the weight to the up side from here.

[Dow Trader]

from Reuters:

US MILITARY SAYS REPOSITIONING FORCES IN AREA AROUND LIBYA TO BE ABLE TO PROVIDE FLEXIBILITY, OPTIONS

my comment: do you think this headline will push Oil and Gold lower ? if your answer is NO, then do you think Dow can hold any rally while Oil above $100 ?

[BullBear52x]

SPY is not so healthy here, 1m chart with ThinkAI
I think I am over posted here today. break time!

[Cobra]

Back to consolidation area like usual. This kind of pattern is very common.

[nelsonbelchior]

Bear flag breakdown. Let's see if OR low could hold. Normally, a pullback would bring us back to the consolidation area last Friday, i.e. below the 2nd green line.

from large time frame, it looks like a bull flag., intraday, a small down channel.

Normally, the rebound should be 2 legged, so I still assume today's high at least will be retested either later today or tomorrow, only after a 2 failed test, the market would then try the opposite direction.

Cobra but it´s allways 2 times?

[Cobra]

Lunch time. A wild guess, usually a reversal should like this:

[Cobra]

Cobra but it´s allways 2 times?

Mostly.

[Jennyahwu]

Cobra, does the market reverse? you said the market should test new high todaY/

but it looks drops without stopping. short? tHANKS

[greenback]

The cut in Social Security payroll taxes helped boost incomes last month, but personal spending fell anyway.