03/02/2012 Intraday Watering

[Al_Dente]

5 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[Cobra]

pullback indeed. let's see if my most hated H&S pattern now suddenly all worked works again this time.

[BullBear52x]

5 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

what do you read of this Dr. Al?

[Tabby]

RUT hit an important level 800 - the Jan highs and 40 day MA and has bounced nicely.....

Unless the SPX catches up in a BIG way - the Low for the day is in on the RUT - but next week could be VERY interesting..... as we are starting to follow some of the post QE rally breakdowns in the RUT - the question is 'Will the others follow?

They should, but maybe not till early next week....

-D

Just a guess,
800 is A of wave 4.
815 is B of wave 4.
788 is a c of wave 4 and then going for,
855-860 to finish wave 5 .
Minor 1=748
minor 2=705
minor 3=833
minor 4=788ish
minor 5=855-860
then....

[PRI]

pullback indeed. let's see if my most hated H&S pattern now suddenly all worked works again this time.

Cobra,
I don't put much creedence in them either. I an not sure how you have this marked...
Are you labelling it as an inverted head and shoulders with the resistance line above as the base?
Or as a regular head and shoulders with the lower trend line as the base. If it is the latter, is it working on the right shoulder now?
If this is the case - do I see two left shoulders?
Thanks

[BigChief]

who is interested in buying TVIX at these levels? any comments??

not me. and i love trader vix

I am slowly adding positions to it on drops, it seems that Credit Suisse is trying to keep the dilution at a minimum holding the integrity of TVIX, it is slightly delayed to the normal VIX but explodes on point when momentum is there. The overall market here is losing momentum to me, so adding small positions here seems a good strategy. More risk to the market on the downside then TVIX at this point? Atleast for a small correction to work off the extreme sentiment?

[knurbs]

Looks like C&H pattern has formed

[KENA]

We are slowly heading back up. I had a couple of P bars up to137.77 about 2 hrs ago.Maybe thats where we are going.Lets see.

[Claire]

Cobra: I'm not sure whether you are still expecting a test of the low or a move back up to near the high if it's an inverted h&s. thanks

[fehro]

morphing into larger triangle?

[knurbs]

If SPY is not C&H then it's an inverted H&S so might be headed up

[SWalsh]

who is interested in buying TVIX at these levels? any comments??

not me. and i love trader vix

"And his hair was perfect"

[tigerwang9999]

i saw TVIX doesn't change much lately, the same way as TZA a couple of days ago. Suddenly TZA moved up, and i missed it, maybe I can catch up with TVIX? any comments?

[Cobra]

well, more and more like a H&S bottom, don't you think?

[pidge66]

well, more and more like a H&S bottom, don't you think?

H&S bottoms normally work while H&S tops rarely work these days. I think that's a fair statement.

[jarbo456]

hey look IHS ready for the 3pm ramp! woohoo.

[KENA]

SWalsh..Another short article on HFT's just posted on Clusterstock.It shows if you are not fast you missed it.

[Cobra]

breakout. target.

[BullBear52x]

well, more and more like a H&S bottom, don't you think?

9:40 tick selling was too big for this Reverse H&S to stick. well, bull set up always work.LOL

[KENA]

Going short even on DT,the risk/reward is not worth it.imho