07/13/2011 Intraday Watering

[99er]

KENA: "a root canal"

Guess some things are worse than a boring tape.

[stingrey]

Strange resistance line here. Not sure what that is.

Draw another line on the bottom and it looks like a 'megaphone' typically a bullish sign at a bottom...question is, are we at a bottom?

[KENA]

SOKU...Just checked the chart on CAT..It hit support yesterday so this is why it is up(also Big Ben).I am thinking it may go up a little more then turn dn again.Wait and see.

[BullBear52x]

wait for RSI divergence here.

[ocassional observer]

bernaneke is working hard to keep inflation high in order to make sure the us goes back into recession, what an idiot.

[BullBear52x]

OK, selling time for me.

[silicon_beaver]

GM Cobra, do you see SLV still in retangular or it broke out? thank you

still think it's a Pennant or flag. cannot you check the chart in my public chart list? It's there at 4.8.8

That helps.

[Me XMan]

QE3! TO DA MOON!!!
FRESH FREE MONEY PICKED FROM TREES!

bernaneke is working hard to keep inflation high in order to make sure the us goes back into recession, what an idiot.

[soku]

SOKU...Just checked the chart on CAT..It hit support yesterday so this is why it is up(also Big Ben).I am thinking it may go up a little more then turn dn again.Wait and see.

my 110c will be expired this friday. really wish it could close now at 109.99
market has been quiet for a while. i am expecting a sudden break out. could be both way but i prefer 1320 since 1328.5 was multi-tested support turned to res

[99er]

RUT
H&S top.
http://99ercharts.blogspot.com/2011/07/rut_13.html
798 target.

[lilitulip]

GM Cobra, do you see SLV still in retangular or it broke out? thank you

still think it's a Pennant or flag. cannot you check the chart in my public chart list? It's there at 4.8.8

thank you, yes i do check. but want to hear from you.

[agnosia]

i will get bullish on crude again if we break 99.20... from there we have 100.74 and 101.87 gap fills. i think we will need to see continued destocking of PADD inventories before that happens though... but today was a step in the right direction.

[agnosia]

bernaneke is working hard to keep inflation high in order to make sure the us goes back into recession, what an idiot.

don't ever think bernake is an idiot because he is not. don't let him fool you , his number one mandate is to help the banks and he will continue to do that at the expense of the US economy..

[Anaconda]

i will get bullish on crude again if we break 99.20... from there we have 100.74 and 101.87 gap fills. i think we will need to see continued destocking of PADD inventories before that happens though... but today was a step in the right direction.

I covered this morning. Can't compete with Uncle Benny's promises. (Tragedy is we are pissing away more of the American taxpayers' money to temporarily boost market prices of all commodities, only to end up worse off than before. Will the [QE3]'rd time be the charm? I think not.)

GL and nice job on the win!

[uempel]

When Bernanke speaks SPX behaviour is treacherous. Dollar's reaction makes sense, but SPX behaviour is just a fiction..

[Denali92]

RUT
H&S top.
http://99ercharts.blogspot.com/2011/07/rut_13.html
798 target.

THE RUT definitely looks like it should fall further - it is a lot stronger than it was in the April correction, which is somewhat surprising as SPX has hit the exact same levels - even slightly pierced the 50day MA - just like April opex... amazing how these things repeat or come close to repeating....

-D

[soku]

http://www.zerohedge.com/article/buy-risk-short-es

[agnosia]

i will get bullish on crude again if we break 99.20... from there we have 100.74 and 101.87 gap fills. i think we will need to see continued destocking of PADD inventories before that happens though... but today was a step in the right direction.

I covered this morning. Can't compete with Uncle Benny's promises. (Tragedy is we are pissing away more of the American taxpayers' money to temporarily boost market prices of all commodities, only to end up worse off than before. Will the [QE3]'rd time be the charm? I think not.)

GL and nice job on the win!

thanks anaconda...good idea to cover. i agree they are throwing our currency down the drain in order to help the few and we will suffer the consequences. unfortunately the US has become 'financialized' and the stock market + other assets are the only thing that matters. We don't manufacture anything anymore, just push money around... so sad.

i love how the bernake takes credit for the 'good' asset inflation like stocks but thinks his printing isn't also pushing up commodity prices. what an ass.

[Cobra]

ChiOsc is still low, so at least the target could be Fib 50% 133.53 area, I guess.

[rhight]

Strange resistance line here. Not sure what that is.

Expand your view to one month. Draw a rising resistance line between the 6/22 high and the 7/7 high. Now create a parallel support line from the 6/27 low, and you will see that the resistance line is a back test of the broken support. The support line from the 6/27 low might be redrawn now through yesterdays low. I've got a technical case to support a possible retest of the 1358 high sometime next week, probably Tuesday, and the reassess from there (IF we get there).