06/29/2011 Intraday Watering

[uempel]

Guys, even in a DT forum it's good to check the overall picture. This 20 year SPX chart (!) shows that the action of the last few days is (presumably) a jump back to the broken trendline. First chart shows the overall picture, second chart shows the close-up:

[trader_jay]

Rumor for the short covering rally since 1015am:
NYSE detected flash crash like HFT activities . Some think that this is why selling stops at lows.

on which symbol?

Didn't get the details. Should be sp 500 stocks.

As I can recall, last flash crash was initiated with dumping emini es, which triggered program selling on the stocks.

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/06/gold_29.html
Silver http://99ercharts.blogspot.com/2011/06/silver_29.html
Crude http://99ercharts.blogspot.com/2011/06/crude_29.html

[90ufo]

cobra: 30min ChiOSc is really high, but 60min ChiOSc is ok. which one is better indicator??

[OBV]

Anyone notice the IHS on the ES 5 min chart?

[99er]

uempel: "the overall picture"

Great charts!

[Cobra]

cobra: 30min ChiOSc is really high, but 60min ChiOSc is ok. which one is better indicator??

both. 60 min ChiOsc is not low.

[uempel]

SPX runs into lots of resistance at 1310 - the higher BB line is there too. A second look at yesterday's chart:

[bbc]

cobra: 30min ChiOSc is really high, but 60min ChiOSc is ok. which one is better indicator??

depends on which timeframe you trade with,

and first thing of using any indicator is to judge: is it trending or is it in a range,

second, are you more comfortable with chasing momentum or reversal?

ppl has difference preference.

[Cobra]

another pullback attempt I think. bears best hope is as illustrated.

[TexasGordon]

The 50 sma is at 1316 and might be the target for this afternoon or tomorrow.

[cc2265]

BullBear52x,
are you still trade UNG? tomorrow is good to buy

[HK88]

RSI(14) > 80 on both 15 min and 30 min, maybe a rest here a bit...

[HK88]

The 50 sma is at 1316 and might be the target for this afternoon or tomorrow.

I was thinking to unload or even get short a little in that 1315 area is also a decent resistance

[soku]

market is trending since 10. now i am bearish. short at 1302.75. hope to sell around 1298

[uempel]

Many possible short entries, I'll be trying something with 1310, but it's not a serious short, just play:

[alphahorn]

Updates

Gold http://99ercharts.blogspot.com/2011/06/gold_29.html
Silver http://99ercharts.blogspot.com/2011/06/silver_29.html
Crude http://99ercharts.blogspot.com/2011/06/crude_29.html

funny little thing perspective is, some see cataclysmic falls, others opportunity

[uempel]

uempel: "the overall picture"

Great charts!

Thanks 99!

[Cobra]

so far goes as planned. the rebound is not necessary since I've already see 3 push up but the up momentum is so strong, so my guess is at least one more try on the upside and if failed, we finally would see a 2 legged pullback on 5 min chart. that's unfortunately is the most bears can hope for now. Forget about the plan if the rebound is very strong of course.

[BullBear52x]

BullBear52x,
are you still trade UNG? tomorrow is good to buy

UNG is my swing trade BUY, I am holding 20% after 80% unload yesterday. today will add back 80% above 10.94.( not now) early stage yet so tight stops. I will be in and out until it can trade above 11.20 before I hold 100% lot over night. so far looking healthy.