05/17/2011 Intraday Watering

[agnosia]

short ... 1322.5

[BullBear52x]

Expecting new intraday low, if we don't get it I will lighten up, stop out if trade over 132.85

[viewer]

trend line resistance but generally the rebound should get stronger and stronger, so the mini target is marked on the chart, should be more than that but I still expect the rebound to fail eventually.

OMG!

[soku]

the market is kinda lack of power.
my script,
1. dip from current-1325 level (off if go directly over 1326)
2. dip below 1320.5 (off if break day low)
3. back up to take 1326

yes i am drawing a rhs

so far so good
i think there is defense around current level, re 1318.5. we may see rebound.

[KENA]

Expecting new intraday low, if we don't get it I will lighten up, stop out if trade over 132.85

Glad your back in. I held my shorts over from Mon. and added to them this morning and may hold for more dn on Wed. That will be the 4th day dn.Wait and see.

[StrikePrice]

Expecting new intraday low, if we don't get it I will lighten up, stop out if trade over 132.85

Yes, that looks good based on 4/19 to 4/20 gap fill happening before a strong rebound

[uempel]

A buy?

[KENA]

Expecting new intraday low, if we don't get it I will lighten up, stop out if trade over 132.85

Glad your back in. I held my shorts over from Mon. and added to them this morning and may hold for more dn on Wed. That will be the 4th day dn.Wait and see.

PS I think 99ER says lo 1290??

[Anaconda]

I did the same and have held short. I see I am in good company.

[BullBear52x]

Watching TZA break out here it will be fun for the bears once again.

[deeko]

my post a few weeks ago was that this market is headed lower. I still believe the trend over the next month is lower. Intraday, there is money to be made filling gaps and playing the rebounds. That said, we are nowhere near a bottom yet.

[soku]

the market is kinda lack of power.
my script,
1. dip from current-1325 level (off if go directly over 1326)
2. dip below 1320.5 (off if break day low)
3. back up to take 1326

yes i am drawing a rhs

so far so good
i think there is defense around current level, re 1318.5. we may see rebound.

i think i can claim step 1 and 2 completed. well to be conservative, i will wait for another couple minutes since 1320.5-21.5 area was res for last pop.
once 2 completed, we will see if 3 plays out

[uempel]

Resistance levels for very short term trades:

[jamesmith]

Resistance levels for very short term trades:

SPXI.png

just want to say...your chart is amazing! thanks for sharing~ :)

[agnosia]

i'm afraid until real traders come back into the market near 3pm or so we are gonna chop.. currently in triangle consolidation. i am staying short and believe we will make a lower low today.

[kamukak]

I am long, and if Dow closes today above 12475 then that will be really bullish for the markets,, hoping for a strong finish today. We should get a bounce atleast

[uempel]

Resistance levels for very short term trades:

The attachment SPXI.png is no longer available

just want to say...your chart is amazing! thanks for sharing~

Thank you, I'll be out very soon - the blue grid line is my target.

[BullBear52x]

Well, looks like we are going to be in this bear flag like or up channel whatever you want to call it. price pays, lets wait and see...

[agnosia]

i believe the bots are just playing with the neckline of the descending triangle .. cobra what is the measured move for the descending triangle on the 60 min?

[Cobra]

mini rebound target almost reached, I think there should be some pullback here, then could be another rebound attempt before a little bit larger pullback.