08/31/2011 Intraday Watering

[AK84]

Cobra,

any thoughts on the Spy phantom to 127??

That would just be insane coz it will happen quick if it does!
although im liking todays action so far

[Cobra]

Cobra,

any thoughts on the Spy phantom to 127??

That would just be insane coz it will happen quick if it does!
although im liking todays action so far

since it's only visible on daily SPY, it'd take awhile to be there.

[Mr. BachNut]

TICK is not confirming this up move at all.

Agree. Tick has seemed soft for the price action.

[WhyNot]

New Low after 10.30h. It means Close < Open?

[Cobra]

New Low after 10.30h. It means Close < Open?

applied wrong rule. I never said this.

[AK84]

Cobra,

any thoughts on the Spy phantom to 127??

That would just be insane coz it will happen quick if it does!
although im liking todays action so far

since it's only visible on daily SPY, it'd take awhile to be there.

I see it on my 5 min SPY chart too !

[Cobra]

Cobra,

any thoughts on the Spy phantom to 127??

That would just be insane coz it will happen quick if it does!
although im liking todays action so far

since it's only visible on daily SPY, it'd take awhile to be there.

I see it on my 5 min SPY chart too !

not visible on stockcharts, so doesn't count.

[Petsamo]

TICK is not confirming this up move at all.

Agree. Tick has seemed soft for the price action.

I reloaded my chart. The tick is not as high anymore, and it's height matches the previous intraday high. The bad tick also does not appear on Marketwatch.com.

[Cobra]

just a wild guess, this rebound might not be small one like the previous 2 as on 1 min chart, there's clear 3 push down.

[AK84]

just a wild guess, this rebound might not be small one like the previous 2 as on 1 min chart, there's clear 3 push down.

Are we still bullish for tom (sep 1 ) with the mad market already up so much since Friday ?

[Cobra]

just a wild guess, this rebound might not be small one like the previous 2 as on 1 min chart, there's clear 3 push down.

Are we still bullish for tom (sep 1 ) with the mad market already up so much since Friday ?

I doubt about tomorrow as I said before: NYMO and T2122 cannot go up forever. This is after all the Earth.

[Mongoose]

bad combination: falling Euro and rising Yen.

there is a cross-rate effect with the euro / jpy. If there is good news from Japan, this can sometimes express itself as a rising yen and a falling euro. This in turn, expresses itself negatively in the EURUSD pair. In general terms, a falling dollar in turn expresses itself as a rising US equity market.
In other words, "good news in Japan means bad news for US equities". Not all the time, of course.
A rising EURJPY currency pair usually corresponds to a rising EURUSD currency pair which usually corresponds to a rising US equity market. (Lately however, with the slowdown in the EZ and talks, or rumors, of lowering rates, the Euro has come under pressure. Also, the BOJ has been doing what it can to lower the value of its currency, including talks of intervention.)

[Mr. BachNut]

TICK is not confirming this up move at all.

Agree. Tick has seemed soft for the price action.

I reloaded my chart. The tick is not as high anymore, and it's height matches the previous intraday high. The bad tick also does not appear on Marketwatch.com.

Yep. Bad tick gone. Not a phantom bar.

The other TICK referred to is NYSE TICK, which tracks upticks and downticks.

[frankthetank]

breakout long on the spy

[frankthetank]

stoch breaking out, cho facing up with money flow and RSI

[uempel]

Update, last chart for today - I need some fresh air

[Tabby]

bad combination: falling Euro and rising Yen.

there is a cross-rate effect with the euro / jpy. If there is good news from Japan, this can sometimes express itself as a rising yen and a falling euro. This in turn, expresses itself negatively in the EURUSD pair. In general terms, a falling dollar in turn expresses itself as a rising US equity market.
In other words, "good news in Japan means bad news for US equities". Not all the time, of course.
A rising EURJPY currency pair usually corresponds to a rising EURUSD currency pair which usually corresponds to a rising US equity market. (Lately however, with the slowdown in the EZ and talks, or rumors, of lowering rates, the Euro has come under pressure. Also, the BOJ has been doing what it can to lower the value of its currency, including talks of intervention.)

BOJ does this once in while to seek high yields equities. It is only for few days. When they did yen intervention last year, actually stock market rallied by enery sectors.
I believe Ashraf Laidi wrote an article last year about curriency manipulation and yen intervention. If I recall, it only once that it took more than couple days and US hiked the interest rate ( 2004????), last yea,r Fed intervined and put QE2 on the table to prevent increase in interest rate. I remember it was around Sept 17ish, 2010. Maybe this is a hint for QE3!!!!!!!!!!!!!!!!!!!!!!?????????????????

[EvilTrader]

I doubt new highs today.

If indeed market shot to the highs i will start shorting like crazy.

TONS of divergences plus NYMO screaming for a correction.

[grachu]

for the earth people . third push down ? bullish ? ? not small rebound means BIG REbOUND . sorry cobra can you explain this time only .

[Mongoose]

bad combination: falling Euro and rising Yen.

there is a cross-rate effect with the euro / jpy. If there is good news from Japan, this can sometimes express itself as a rising yen and a falling euro. This in turn, expresses itself negatively in the EURUSD pair. In general terms, a falling dollar in turn expresses itself as a rising US equity market.
In other words, "good news in Japan means bad news for US equities". Not all the time, of course.
A rising EURJPY currency pair usually corresponds to a rising EURUSD currency pair which usually corresponds to a rising US equity market. (Lately however, with the slowdown in the EZ and talks, or rumors, of lowering rates, the Euro has come under pressure. Also, the BOJ has been doing what it can to lower the value of its currency, including talks of intervention.)

BOJ does this once in while to seek high yields equities. It is only for few days. When they did yen intervention last year, actually stock market rallied by enery sectors.
I believe Ashraf Laidi wrote an article last year about curriency manipulation and yen intervention. If I recall, it only once that it took more than couple days and US hiked the interest rate ( 2004????), last yea,r Fed intervined and put QE2 on the table to prevent increase in interest rate. I remember it was around Sept 17ish, 2010. Maybe this is a hint for QE3!!!!!!!!!!!!!!!!!!!!!!?????????????????

I will check our Laidi. Thanks for the heads up.
There are some people who think for the US to get out of this mess and create more demand is to allow the value of the dollar to drop another 20% or so. Hence QE3. I dont care. really. The FED can do QE4, 5 and 6 for all I care. I just make more and more money shorting the dollar.
And as a consumer, I live in Europe, and buy most everything on the US site of Amazon. Its incredibly cheap with the exchange rate. I have about 750 DVDs on my wish list, so eventually I will be able to buy them all for the price of 250!