12/20/2011 Intraday Watering

[michelangelo]

Thanks, waverider. I'll ask Santa for it (now that he's here).

[johnnywa]

I would say down for rest of the day to 1210

I would say 1225

pullback to 1230? or 1225 Blue channel retest?

If test SPX 1225, it would not be a dip any more. Loss of momentum is way too big for bulls.

Wow 1210 you jokimg??

[Cobra]

Thanks, you mean MDD followed by MAD?

sorry, I mean MDD followed by MAD.

[iggintegrin]

indeed it is very good book to read,
but in the beginning , it's pretty hard to understand

What's the name of the book?

Reading price charts bar by bar, it's filled with tons of charts and setups, not just writing like most TA books. The more you watch charts, the more you realize setups and probabilities based on the price action.[/quote]

[Me XMan]

HAHAHA well I don't know

I would say down for rest of the day to 1210

I would say 1225

pullback to 1230? or 1225 Blue channel retest?

If test SPX 1225, it would not be a dip any more. Loss of momentum is way too big for bulls.

Wow 1210 you jokimg??

[BullBear52x]

Here is my update, a trade below my dotted blue line, I see it as intraday reversal pattern, to be or not to be? that is the question, sell first ask later type of deal.

[Cobra]

Cobra have you ever considered picking a day for this intraday forum to be "Al Brooks setups" day and see what we can see on a 5-minute chart with just the EMA 20?

Also has anyone read the new book by Al Brooks? I'm wondering if it's worth picking up.

I bought his new book but haven't read it. His first book, I read only the first 90 pages, I couldn't keep reading more. But I heard his 2nd book is way better, well hopefully.

The funny thing is, I was trying to find AI Brooks forum last night, so I googled AI Boooks + forum, guess what, google didn't find AI Brooks, the master's forum, only found our forum here, we're the 3rd on the list.
http://www.google.ca/webhp?sourceid=chr ... =955&ion=1

[tdo722]

I would say down for rest of the day to 1210

I would say 1225

pullback to 1230? or 1225 Blue channel retest?

If test SPX 1225, it would not be a dip any more. Loss of momentum is way too big for bulls.

How can you say it will go down to freaking 1210??? makes me laugh so hard, there is absolutely no logic. Are you trapped?

[99er]

Update

SPX http://99ercharts.blogspot.com/2011/12/spx_9680.html

Go Bears!

[PhilM]

The pattern for SPY over the last hour looks like descending triangle, bearish.

[waverider]

Thanks, waverider. I'll ask Santa for it (now that he's here).

np

[BullBear52x]

Vix flashing sell now, dollar flashing buy, wait for TNX below 18.82, the up logic will change a bit, since the down logic is laughable.

[waverider]

Update

SPX http://99ercharts.blogspot.com/2011/12/spx_9680.html

Go Bears!

LOL, I like your bearish bias 99er, 5min still looking bullish I bet it gets to the measured move

[tdo722]

Vix flashing sell now, dollar flashing buy, wait for TNX below 18.82, the up logic will change a bit, since the down logic is laughable.

My lord, I don't think dollar is flashing a buy. resistance is a bitch. I am waiting patiently to buy the dip just like anyone but so far not yet.

[BullBear52x]

Vix flashing sell now, dollar flashing buy, wait for TNX below 18.82, the up logic will change a bit, since the down logic is laughable.

My lord, I don't think dollar is flashing a buy. resistance is a bitch. I am waiting patiently to buy the dip just like anyone but so far not yet.

our time frame may be differ, I should be clearer. here is my set up

[99er]

Me XMan

Only 1210?

SPX http://99ercharts.blogspot.com/2011/12/spx_5269.html

I'll wager 1200 or lower. "How about $10,000?"

[Cobra]

I don't think Euro bottomed. this looks like a breakdown and consolidation below the breakdown point which only to make the breakdown as real as it gets.

[mac769]

Update to Friday's chart/prediction: If we decisively break resistance here, then 1260ish this week.

Yes, if we can hold the 1215 level, the bulls might get bold and try an attack on 1260 and then the race is open towards 1300, who knows....

BUT this would also imply the damage on the EUR can be kept in limits, which means it NEEDS to stay above 1.30 by all means

[Me XMan]

By EOD today? 1200? I'll take you on friend

Me XMan

Only 1210?

SPX http://99ercharts.blogspot.com/2011/12/spx_5269.html

I'll wager 1200 or lower. "How about $10,000?"

[Tuna1889]

At 11:45 EST US Treasury sold about 30 Billion in 28 day paper at 0.0000% rate with 9 to 1 bid to cover ratio. Thanks ZeroHedge. Tomorrow we have the LTRO and clearly the bet by equity is that Sarkozey's carry trade will be implemented with all that ECB cash. Given the Treasury six sigma bid to cover today are we really looking at buy the rumor and sell the LTRO news ?