03/04/2011 Intraday Watering

[zombiebraingoo]

for the bears - this chart is about to confirm the bull continuation.

once the ma's cross you could get a pullback down to the 200ma but with the radically rising 40ma it's probable that the pullback will hit that and then bounce.

THIS IS THE SCENARO I EXPECT IN JUNE so stay tunned!

[koolblue]

Man ... i need to see 1317.25 on the ES, just so i can afford to put gas in my car!!!...LOL

[zombiebraingoo]

this could reverse fairly quickly

[KENA]

RE: sina, simple, like I said yesterday, the pressure is on the upside.
http://www.screencast.com/users/Balance ... e55b73fed1

Thanks, balance, I did close the SINA calls for a nice profit yesterday(scared), keep the SINA position, think it has more room to run. Today's price action in a down market is not bad. But things can change, of course.

I agree and also watch CY it is ready for a possible move up.

[BullBear52x]

Intraday bear flags my favorite!

[Mr. BachNut]

I think Mr. Market is working very hard to confuse everybody the last two days.
I am not day trader (usually). So, I am neutral at the moment waiting for more clarity.
I think the 3/2 low and the 3/3 high, whichever breaks first, may be quite important.
The bear case could be some kind of Elliot Wave pattern forming.

2/24 low = Wave 1 down
3/1 high = A wave up
3/2 low = B wave down
3/3 high = C wave up and conclusion of Wave 2 up (clearer on NASDAQ and Russell 2000)
If 3/2 low is broken to downside, it suggests a Wave 3 down (usually bigger than Wave 1).
If 3/3 high is broken to upside, pattern is not in play and correction is probably over.

Then again, this could all be nonsense!

[koolblue]

Next stop for the es...1314.25 , a screamin buy, me thinks!

...

koolblue - great chart - what are the settings on the channel?

144 bars, bands at 2.00 and 2.62 (fibs of course!)...

[Mr. BachNut]

Off Topic, but ever since I registered for this sight, I keep getting this "MyWebFace" pop-up. Driving me nuts. Anybody else? Any solutions?

[rcks]

That is the bearish count on the table but far from confirmed, SPX has to close below 1294 to confirm IMO.

I think Mr. Market is working very hard to confuse everybody the last two days.
I am not day trader (usually). So, I am neutral at the moment waiting for more clarity.
I think the 3/2 low and the 3/3 high, whichever breaks first, may be quite important.
The bear case could be some kind of Elliot Wave pattern forming.

2/24 low = Wave 1 down
3/1 high = A wave up
3/2 low = B wave down
3/3 high = C wave up and conclusion of Wave 2 up (clearer on NASDAQ and Russell 2000)
If 3/2 low is broken to downside, it suggests a Wave 3 down (usually bigger than Wave 1).
If 3/3 high is broken to upside, pattern is not in play and correction is probably over.

Then again, this could all be nonsense!

[Cobra]

Still hanging around stupport. If no rebound here, then I'm afraid it will breakdown because it looks like a small Descending Triangle in the forming.

[Cobra]

Retailers are bullish, lots of equities call here.

[Cobra]

Hmm, index call is huge too. What's going on here?

[BullBear52x]

Still hanging around stupport. If no rebound here, then I'm afraid it will breakdown because it looks like a small Descending Triangle in the forming.

Thanks Cobra,

every time intraday Bulls/Bears flags shown up in all indexes at the same time, if held, we see the Top/Low of day. at the current time Es is experiencing over sold 1h RSI. if bear flag failed to hold bottom, very very bad sign.

[evergreen]

Hi koolblue -

how do you draw the parallel track in your chart, what indicator?
Thanks!

[zombiebraingoo]

Here it comes - macd cross on 5 min-

[writersblock]

Cobra, regarding those index calls: what does that say to you? I know nothing about options, so the message is a mystery.

If I had to guess, though - could they be hedging their positions, intending to go into the weekend short?

[koolblue]

Hi koolblue -

how do you draw the parallel track in your chart, what indicator?
Thanks!

.. i go to drawing tools , fib extentions ... and wipe out all the other fibs that im not interested in...

[BullBear52x]

Transportation is breaking down now, watch out Bulls, many see this index as leading indicator.

[zombiebraingoo]

there it went! the tug-o-war over 1314!

[Me XMan]

Going long here...

there it went! the tug-o-war over 1314!