03/23/2012 Intraday Watering

[BullBear52x]

This area here Gap and 5 dma another sell the rips (last sell spot) before the bull can break free, LH is on the third peak so need a lot to over come this simple TA.

[Cobra]

overshot, so pullback here, let's wait.

[uempel]

Update, drew the chart about 3 hours ago:

[giggleeyes]

overshot, so pullback here, let's wait.

A bearish rising wedge?

[TraderGirl]

SPX looks like it needs to break above 1398/99 in order to break out of this wedge, but we have resistance around 1409/1410. Looking for another down move into beg of next week, we may start to fall towards end of day today, as yesterday....

[TraderGirl]

SPX looks like it needs to break above 1398/99 in order to break out of this wedge, but we have resistance around 1409/1410. Looking for another down move into beg of next week, we may start to fall towards end of day today, as yesterday....

Where the hell did that chart come from...oops! here it is, my bad...

[OverUnder]

If this wedge breaks down to target it's double plus ungood.

[uempel]

This area here Gap and 5 dma another sell the rips (last sell spot) before the bull can break free, LH is on the third peak so need a lot to over come this simple TA.

Don't forget the low on March 20th at about 1397.50...

[BullBear52x]

overshot, so pullback here, let's wait.

A bearish rising wedge?

nice one too

[ClarkW]

Paging Uempel (Dr. Eclipse): What are your thoughts on the following charts. Put the first together a month ago after Cougar posted it. Found it skimming through charts last night. Second is same just shorter timeframe. Positive D on RSI and MACD. Is there typically a 'reaction' once it reaches the end of the eclipse?

Thanks

Sorry ClarkW, I only follow 10 stocks and 2 or 3 indices. I know their idiosyncrasies and I don't trade anything else. Suggest you check the monthly, weekly, daily 10 years back, check how the stock behaved when the markets were falling or when goldilocks was seducing. Check if the stock outperforms/underperforms the sector.

I don't trade any index or stock that I haven't followed for a few months - I just don't know how the stock "behaves", don't know support and resistance levels

If you are convinced the stock is a buy and an outperformer in the sector you can go long the stock and go short the sector. You'll need some money but this kind of trade helps reduce the market risk...

I know this info won't help you much but it's all I can give you...

It does. I appreciate you taking the time to respond. Makes sense you know how particular things react to your ovals but doesn't hold true for everything. Will do some more research this weekend. Thanks again!

[OverUnder]

Breaking news just now -- Greece financing gap news out just now from IMF.

[uempel]

overall game is over for bears

I get myself in trouble when I use definitive statements. I like the words "Likely", "If", "Maybe", and "Perhaps".

But in a BTFD world, you are probably right.

SWalsh, I'm with you.

[BullBear52x]

This area here Gap and 5 dma another sell the rips (last sell spot) before the bull can break free, LH is on the third peak so need a lot to over come this simple TA.

Don't forget the low on March 20th at about 1397.50...

Yea, that was the first Red Heikin Ashi day too.

[Cobra]

wild-est-est-est guess as I see clear 3 push up here. bulls are not as strong as I thought.

[SWalsh]

Every bull market people try to pick tops. It's a very stupid strategy.

I'd agree....if this were a bull market. But the world economy is a balloon. Not since Baghdad Bob spoke have such lies been put forth as to "recovery" as month-after-month the American investor must net withdraw funds from the stock market to survive.

http://www.youtube.com/watch?v=CXl1GkWWGmA

SWALSH isn't BOB Tim Geithner's Uncle ??

ROTFLMAO.....I hope they didn't execute him. Being a Fed Governor would fit him to a T.

[Cobra]

overall game is over for bears

I get myself in trouble when I use definitive statements. I like the words "Likely", "If", "Maybe", and "Perhaps".

But in a BTFD world, you are probably right.

Got you thanks.

[Cobra]

overshot, so pullback here, let's wait.

A bearish rising wedge?

Yes, but i'd draw wedge this way. not saying I'm right, just a preference.

[btran874]

SPX looks like it needs to break above 1398/99 in order to break out of this wedge, but we have resistance around 1409/1410. Looking for another down move into beg of next week, we may start to fall towards end of day today, as yesterday....

Where the hell did that chart come from...oops! here it is, my bad...

Nice chart. Max pain 1410.59. I'm spreading it out evenly. 25% at 1400, 25% at 1405. 50% at 1410.

[Buckethead]

I added to my LONG OIH and FXI position from Thursday at 41.40 and 36.80 respectively. Plan is to hold into April 15

[Richarab]

if Nq can break my line with gusto i may go long...else
(its poking its head above the line as i post this...)