02/23/2012 Intraday Watering

Post by **Cobra** » Thu Feb 23, 2012 10:03 am

Flat open, so any gap will be filled.

The Global ES doesn't look good, I won'd say it's Descending Triangle but the feeling is the same as apparently sellers are impatient so the high gets lower and lower. My guess is at least the blue line below will be tested and broken a little bit. Let's see.

noob · Post by **noob** » Thu Feb 23, 2012 10:06 am

Morning Cobra!

You don't see this as a bull flag from the rise since 1330?

Cobra wrote:Flat open, so any gap will be filled.

The Global ES doesn't look good, I won'd say it's Descending Triangle but the feeling is the same as apparently sellers are impatient so the high gets lower and lower. My guess is at least the blue line below will be tested and broken a little bit. Let's see.

SigmaEcho · Post by **SigmaEcho** » Thu Feb 23, 2012 10:09 am

Cobra wrote:Flat open, so any gap will be filled.

The Global ES doesn't look good, I won'd say it's Descending Triangle but the feeling is the same as apparently sellers are impatient so the high gets lower and lower. My guess is at least the blue line below will be tested and broken a little bit. Let's see.

Hi Cobra, what do you think of DAX. Already lost over 2% from top.
Tnx

johnnywa · Post by **johnnywa** » Thu Feb 23, 2012 10:12 am

Europe turning red futures fading,can't all get thru the exit door at the same time.

Post by **Cobra** » Thu Feb 23, 2012 10:12 am

SigmaEcho wrote:
Cobra wrote:Flat open, so any gap will be filled.

The Global ES doesn't look good, I won'd say it's Descending Triangle but the feeling is the same as apparently sellers are impatient so the high gets lower and lower. My guess is at least the blue line below will be tested and broken a little bit. Let's see.
Hi Cobra, what do you think of DAX. Already lost over 2% from top.
Tnx

The chart looks OK, nothing wrong YET.

Al_Dente · Post by **Al_Dente** » Thu Feb 23, 2012 10:18 am

GM
what time is weekly claims out?

1der · Post by **1der** » Thu Feb 23, 2012 10:20 am

Al_Dente wrote:GM
what time is weekly claims out?

All ready out at 8:30 ET, two more reports today, one at 10 and other at 11

Feb 23 08:30 Initial Claims 02/18 351K 360K 355K 351K 348K
Feb 23 08:30 Continuing Claims 02/11 3392K 3500K 3450K 3444K 3426K
Feb 23 10:00 FHFA Housing Price Index Dec NA NA 1.0%
Feb 23 11:00 Crude Inventories 02/18 NA NA -0.171M

Read more: http://www.briefing.com/investor/calend ... z1nDNJ5ta1

xXRichXx · Post by **xXRichXx** » Thu Feb 23, 2012 10:21 am

Out already...
http://www.zerohedge.com/news/initial-c ... vised-351k

jimme · Post by **jimme** » Thu Feb 23, 2012 10:22 am

GM All,

I sold my TZA calls at close and didn't make much money. I also at the close bought SSO calls because the 60 min chart only had 2 pushes down, which is bullish. This AM we will see if a lower low is printed. Even if 3 down, it's time to make a new high. Good luck to you all. jimme

Post by **Cobra** » Thu Feb 23, 2012 10:23 am

noob wrote:Morning Cobra!

You don't see this as a bull flag from the rise since 1330?

Cobra wrote:Flat open, so any gap will be filled.

The Global ES doesn't look good, I won'd say it's Descending Triangle but the feeling is the same as apparently sellers are impatient so the high gets lower and lower. My guess is at least the blue line below will be tested and broken a little bit. Let's see.

Nope, too large relative to the up leg.

noob · Post by **noob** » Thu Feb 23, 2012 10:27 am

Thanks!

Cobra wrote:
noob wrote:Morning Cobra!

You don't see this as a bull flag from the rise since 1330?

Cobra wrote:Flat open, so any gap will be filled.

The Global ES doesn't look good, I won'd say it's Descending Triangle but the feeling is the same as apparently sellers are impatient so the high gets lower and lower. My guess is at least the blue line below will be tested and broken a little bit. Let's see.
Nope, too large relative to the up leg.

Richarab · Post by **Richarab** » Thu Feb 23, 2012 10:29 am

Morning all from Q8
Always enjoy my market time here - its 530pm...

johnnywa · Post by **johnnywa** » Thu Feb 23, 2012 10:30 am

jimme wrote:GM All,

I sold my TZA calls at close and didn't make much money. I also at the close bought SSO calls because the 60 min chart only had 2 pushes down, which is bullish. This AM we will see if a lower low is printed. Even if 3 down, it's time to make a new high. Good luck to you all. jimme

Post by **Cobra** » Thu Feb 23, 2012 10:32 am

the open. watch yesterday's low. cannot decisively breakout below then the game is over for bears.

Richarab · Post by **Richarab** » Thu Feb 23, 2012 10:33 am

Cobra wrote:the open. watch yesterday's low. cannot decisively breakout below then the game is over for bears.

wouldnt the game just start for the bears...

Al_Dente · Post by **Al_Dente** » Thu Feb 23, 2012 10:37 am

All eyes on $TRIN, 2.1 bear right out of the gate

(Thanks 1der and xxrich)

Carlos · Post by **Carlos** » Thu Feb 23, 2012 10:38 am

The 10 min macd and stochastics show a possible uptrend soon on the S&P

Post by **Cobra** » Thu Feb 23, 2012 10:40 am

trend line and wedge.

Richarab · Post by **Richarab** » Thu Feb 23, 2012 10:42 am

Cobra wrote:trend line and wedge.

global ES breaking down. looks dramatic, yet we've seen this before

stucap · Post by **stucap** » Thu Feb 23, 2012 10:42 am

Bears are toast.

Support Support Support: SPX 10dma 1353.33 SPX 13 DMA 1351.89 (bulls are buying and we're not even touching these yet!)
Dollar: Red
NYSE Decliners: Meh 1400
5 min RSI (i know this indicator sucks): Oversold
5 min VWAP (been rock solid for the past few weeks): Just kissed lower band

Conclusion: We get another one of those never ending bear flags by 11am that never makes a second push down......

Wash, Rinse, Repeat.

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