01/12/2012 Intraday Watering

[Petsamo]

People starting to get interested in UNG again, same here...anybody got data on approx average cost of producing natgas, i.e at what price do they start to shutdown wells?

I don't get the reports. If there's a -95 bcf change in storage, doesn't that mean demand is higher than supply? If so, why did the price drop?

[SB73]

close high of the day then bears be prepared for another upside breakout tomorrow as this can be seen as a consolidation before breakout.

How would you view another black candle?

[Mr. BachNut]

close high of the day then bears be prepared for another upside breakout tomorrow as this can be seen as a consolidation before breakout.

The market must want SPX 1300. Completes repair of damage from dropoff point last summer. Takes out remaining buy stops.
I imagine though there are longs who will cash out there and fresh shorts ready to hit that level. So, it will be interesting.

[bushwaffle]

Feels toppy as price sits in the pockets and then has to gap up, There is room to 1310 though first, unless open lower tomorrow.dit

Edit: chart skewed after enlarging, fixed now

[fehro]

Vix Daily... seems like one more push down seems to be in the cards too.. at least to the bollinger band edge

[MrMiyagi]

Grain prices turned sharply lower, I don't know what that means though; cheaper Fritos?

[Tabby]

ascending triangle?.. target 1315ish.. or break green channel? look for bottom channel?

Fehro,does your STO has a negative div to your SPX chart?

debatable ....

Fehro,
Your previous chart was 15 mins and you are showing daily chart now. Daily takes longer time to show neg div.

Sorry, thought you were talking about my daily... there is some Neg D on the morning peak., depending on the strength of this push up could negate it.

Fehro,
I appreciate you are posting your charts here. I like your charts and pay attentions to all the details of your charts as much my brain can take.

[waverider]

$DAX looks like a reversal candle on the daily

[TraderGirl]

Grain prices turned sharply lower, I don't know what that means though; cheaper Fritos?

Looks like a lot of the commodities down today, well today was a turn date, also saw a turn in the FXE and UUP

[TWT]

Lately I am watching very closely the KBE etf which since the Dec 19 low is clearly outperforming SPX.

This sudden buying spree in the financial sector, has turned the EW pattern of KBE bullish.

I think it is a must to follow BAC

Below I have a potential count which is assuming that a wave (A) off the January 2011 could be completed. If this is the case then a wave (B) should at least reach the 0.382 retracement at 8.8742

The trend is up as long as last Tuesday´s gap at 6,27 is not closed

[SB73]

3 thoughts
1- Its almost like there is the QE backstop with BTFD and you can be green everyday
2- This is one important top and only gaps have allowed gains and its about ready to wet itself
3- Consolidation for micro break outs with an effort to pop above the bollinger which currently sits at 1312 and rising.

I favor all three

[jarbo456]

is it yet another ascending triangle...they're endless these days...should break above 129.50 and on to the mooooooooooooooooooooooooooooon...

[Al_Dente]

PRICE, 1 min update
Bond mkt closed, TBT replaces TNX
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[BlackThought]

to the mooonnnnnnnnnnnn

[Cobra]

close high of the day then bears be prepared for another upside breakout tomorrow as this can be seen as a consolidation before breakout.

you don't see it as distribution anymore like you did yesterday?

big money bids higher to sell into...rinse and repeat?

distribution or not, we have to respect the chart pattern. consolidation here then means more up!

[BullBear52x]

I am going on my second bag of potato chips, I think I look at all the charts there is . going for a walk before I do something TUPID.

[CognitiveDissonance]

Did somebody say VIX?

It's been a looooong week waiting for the VIX do go down but I think it will.

PS - does anyone know how to make these jpg files smaller for upload?

[Cobra]

a little overshot here, let's see if any pullbacks.

[BullBear52x]

Did somebody say VIX?

It's been a looooong week waiting for the VIX do go down but I think it will.

PS - does anyone know how to make these jpg files smaller for upload?

use windows image viewer you can crop it there.

[Cobra]

close high of the day then bears be prepared for another upside breakout tomorrow as this can be seen as a consolidation before breakout.

How would you view another black candle?

let's wait till the close first.