07/01/2011 Intraday Watering

[Cobra]

sorry guys, I just checked, today is not SPY or SPX body completely out of BB. The open is below BB top.

[cheech]

Hello all. This is my first post here. This rally looked like a start of another extended substantial bull run. However, if you look at the SPX and DOW spread, it has been steadily decreasing since early this year. The difference between this rally and several others in the past 2 years is the SPX-DOW spread didn't follow the price going higher this time.

SPX-DOW spread.JPG

Thanks. Interesting. All signs point to further weakness ahead. I think the market tops out in the coming days only to make new yearly lows to scare some bulls, then might be a good buying opportunity. At least a pullback of some scale is due to close at least one of the 3 gaps up we've had the past week. The 3 gap pattern is usually found during short covering rallies, not legitimate bull market moves, so it's built on fumes.

[oldpigwang]

So, Cobra: no garantee for Green Aug, right?

[99er]

Honey, is that Going Down?

http://www.youtube.com/watch?v=_2s7WMVMDjU

Crank up the volume.

[Cobra]

So, Cobra: no garantee for Green Aug, right?

no, today is not body out of BB top day, so NO

[ctu688]

Guys, do you remeber SPX 1333, that's the twice the low of March 2009, Is this a good-bye visit to 1333, or is the target higher up...

I think we'll see a new high: weekly 3 push up, then the real pullback begins. almost exactly as year 2007.

Cobra: Are you talking about the weeks of March 19 of 2007 push to July 9 of 2007?

[Cobra]

could see more up...

[cougar]

hmm, who said the target is for fun?

Apropos of targets: XLF is getting close to its target!

[Cobra]

Guys, do you remeber SPX 1333, that's the twice the low of March 2009, Is this a good-bye visit to 1333, or is the target higher up...

I think we'll see a new high: weekly 3 push up, then the real pullback begins. almost exactly as year 2007.

Cobra: Are you talking about the weeks of March 19 of 2007 push to July 9 of 2007?

just looked at the SPX weekly, looks like not 3 push up anymore. This market would go like this, to galaxy far far away, and I retire on the beach...

[jamesmith]

could see more up...

up up up ole ole ole~~~ up up up ole ole ole~~~

[TexasGordon]

The dow is now up 630 pts from last friday. Looks like fireworks that will come back to ground tuesday. ?

[jamesmith]

Guys, do you remeber SPX 1333, that's the twice the low of March 2009, Is this a good-bye visit to 1333, or is the target higher up...

I think we'll see a new high: weekly 3 push up, then the real pullback begins. almost exactly as year 2007.

Cobra: Are you talking about the weeks of March 19 of 2007 push to July 9 of 2007?

just looked at the SPX weekly, looks like not 3 push up anymore. This market would go like this, to galaxy far far away, and I retire on the beach...

maybe buy a mansion on Mars?

[Petsamo]

Bad tick on SPY.

[Cobra]

indeed, more up, but i see overshot, therefore could be a pullback of some kind here, not sure, need see the next bar.

[HK88]

I am sure the title of Cobra's report will read sth.. like "Short term overbought"...

[soku]

greetings from hampton. beer cold, girls hot. life is good here.
my measured target is about spx 1335 / es 1330. also noted major res at 1333-1345. i don't expect it to be taken today. just my opinion. no trading for me.
kena, take care of my cat while i am on vacation.

[Cobra]

I am sure the title of Cobra's report will read sth.. like "Short term overbought"...

Title: Retire earlier is never a dream!

[Cobra]

greetings from hampton. beer cold, girls hot. life is good here.
my measured target is about spx 1335 / es 1330. also noted major res at 1333-1345. i don't expect it to be taken today. just my opinion. no trading for me.
kena, take care of my cat while i am on vacation.

hey, don't let you snake hungry, or it will have your cat...

[WhyNot]

I see simillar pattern with 2007 Top

[Cobra]

by the way if you're trapped bears, no need to cut now, I don't think such a movement can be sustained the next week. I might be able to use overbought as title which almost guarantee a pullback.