02/17/2012 Intraday Watering

[BullBear52x]

Bearish rising wedge? with one more push up?.... or possibly a H&S, if neckline is broken

The expanding wedge has some fib relationships in it which is "usually" a sign that it is a coincidence and not a genuine pattern. But I think that could well be an ending diagonal.

With all the Neg D all around it will not surprise me a bit that is ED. VIX spike down just now.

[SWalsh]

Anyone following Prechter out there?

Jan 10 in the Elliott Wave Theorist he stated:

INTERIM REPORT: Wave (2) appears to be ending, and the S&P is pushing 1300. Speculators should move to maximum leveraged short. Place a stop at 1360 basis the cash S&P. We will lower the stop if action permits".

I don't have the TV on but I would think this has to be mentioned. Does anyone know if that meant all of EWI's positions are now flat in the S&P?


I'm looking for down now under "The Way Life Works" theory that has stood me well over the years.

[Al_Dente]

VIX just went bonkie
SPY ignored it??

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

[BullBear52x]

This is boring, tight range, bear flag with positive RSI ????

[KeiZai]

similar bull run

[Tabby]

Anyone following Prechter out there?

Jan 10 in the Elliott Wave Theorist he stated:

INTERIM REPORT: Wave (2) appears to be ending, and the S&P is pushing 1300. Speculators should move to maximum leveraged short. Place a stop at 1360 basis the cash S&P. We will lower the stop if action permits".

I don't have the TV on but I would think this has to be mentioned. Does anyone know if that meant all of EWI's positions are now flat in the S&P?


I'm looking for down now under "The Way Life Works" theory that has stood me well over the years.

Use your own wisdom. We are not done with upward move yet, very close.

[Mr. BachNut]

Still holding short position. Mildly trapped at the moment.
Though price is up, McClellan Oscillator is negative and McClellan Summation Index continues to trend down.
Price rules at the end of the day, but there continues to be a softness under the surface of this market.
The Summation Index needs to rise or my stop needs to get hit (SPY = 138.32) to close me out of this particular intermediate setup.
Not close on either at the moment.
Usually, this setup doesn't take too long to start working if it is going to work. That is a cause for concern as this is day 5.
We'll see what next week brings.

TED SPREAD
http://stockcharts.com/h-sc/ui?s=$TED&p ... =248214703

Thanks Al. Didn't see that. Not alarming to see it tick up but if it ramps...

I will say I am not particularly bearish at the moment (subject to change) but suspect we may start to wallow in a range trade to disengage this up-trend. I am mechanically following this McClellan based setup short for lack of any better ideas.

[BullBear52x]

Still holding short position. Mildly trapped at the moment.
Though price is up, McClellan Oscillator is negative and McClellan Summation Index continues to trend down.
Price rules at the end of the day, but there continues to be a softness under the surface of this market.
The Summation Index needs to rise or my stop needs to get hit (SPY = 138.32) to close me out of this particular intermediate setup.
Not close on either at the moment.
Usually, this setup doesn't take too long to start working if it is going to work. That is a cause for concern as this is day 5.
We'll see what next week brings.

TED SPREAD
http://stockcharts.com/h-sc/ui?s=$TED&p ... =248214703

Thanks Al. Didn't see that. Not alarming to see it tick up but if it ramps...

I will say I am not particularly bearish at the moment (subject to change) but suspect we may start to wallow in a range trade to disengage this up-trend. I am mechanically following this McClellan based setup short for lack of any better ideas.

When you mentioned MO ($NYMO) I don't remember when we have it negative but SPY got higher high. it is what it is. stay nimble at best for me.

[jimme]

Bearish rising wedge? with one more push up?.... or possibly a H&S, if neckline is broken

The expanding wedge has some fib relationships in it which is "usually" a sign that it is a coincidence and not a genuine pattern. But I think that could well be an ending diagonal.

With all the Neg D all around it will not surprise me a bit that is ED. VIX spike down just now.

at the same time there was a big green candle with no volume. Did you say max-pain for SPY was 1345? Tks jimme

[Al_Dente]

TABBY:
yesterday I LOL, today not
meet me at yr VIX P-bar for drinks?

http://www.youtube.com/watch?v=lidFipyLG8k

[Tabby]

TABBY:
yesterday I LOL, today not
meet me at yr VIX P-bar for drinks?

http://www.youtube.com/watch?v=lidFipyLG8k

I can't believe how $VIX came closeto 17.92 today.

[BullBear52x]

Bearish rising wedge? with one more push up?.... or possibly a H&S, if neckline is broken

The expanding wedge has some fib relationships in it which is "usually" a sign that it is a coincidence and not a genuine pattern. But I think that could well be an ending diagonal.

With all the Neg D all around it will not surprise me a bit that is ED. VIX spike down just now.

at the same time there was a big green candle with no volume. Did you say max-pain for SPY was 1345? Tks jimme

I took average of a Monthly and Weekly max pain, well, can't remember last short set up that is good for more than a day GLD and GOLD need to see new LL, HL is intact. so boring today heading to lunch now.

[Cobra]

nothing to say, boring. I think at least today's high will be revisited later. lunch time, will be back.

[jimme]

Bearish rising wedge? with one more push up?.... or possibly a H&S, if neckline is broken

The expanding wedge has some fib relationships in it which is "usually" a sign that it is a coincidence and not a genuine pattern. But I think that could well be an ending diagonal.

With all the Neg D all around it will not surprise me a bit that is ED. VIX spike down just now.

at the same time there was a big green candle with no volume. Did you say max-pain for SPY was 1345? Tks jimme

I took average of a Monthly and Weekly max pain, well, can't remember last short set up that is good for more than a day GLD and GOLD need to see new LL, HL is intact. so boring today heading to lunch now.

That's okay because it just half works.

[waverider]

copper is getting hammered today!

[Al_Dente]

copper is getting hammered today!

Watching 4 squeezies
Cant find any in dow
Cept maybe wmt
U know how “they” love to wait till 3, everybody gone to Hamptons for long weekend…boom

[soku]

guess what? greek 1 yr is 629%. if they don't default, u make 600% return. wanna try?

http://www.zerohedge.com/news/greek-1-y ... yield-ever

[TraderGirl]

According to Solar Cycles, Market Cycles, and Astros, we should have had a pullback into Feb 10th producing a trough, but we didn't get that, it appears to have been an inverted cycle where we rallied instead. Now, according to many different cycles, this market could have a ST top around Feb 22, check out the following website, he has VERY VERY interesting Solar Cycle data...

http://solarcycles.net/2012/02/15/next-target-22-feb/

It has been pointed out that we could be highly correlated to a 2005 market cycle, check out the following chart of where we could be. There is a very bullish Jupiter aspect around March 13. If the market trades normally, we should rally into that aspect, and should we have an inverted market, this rally could be fragmented....

[soku]

what's hot on tv
wanna know greek's debt to gdp target? german fm said 123% by 2020.
if i make 100 bucks and borrowed 123 dollars on credit card, i call myself broke.

[SWalsh]

Several thoughts..

I know that we focus on technical trading here, but we must also consider the fundamental backdrop to be prepared for all moves.
-tt

One has to factor in that what we have looked at in all of America since March of 2009 comes from the most corrupt administration in history, and we have president who is destroying every single institution and especially the military. 2009 was "All manipulation, all the time". It has not stopped. Prices are an illusion.

The Greek president is less of a socialist than the US president who exempts anyone who contributes enough through a loophole.

Let me give just one example of how America is being made into a nation of capon. And if anyone thinks it's inappropriate, let me know what you are doing in 5 years because if you think you'll be trading you are nuts! You will be regulated or taxed out of business!
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CAMP ZAMA, Japan – The Army is ordering its hardened combat veterans to wear fake breasts and empathy bellies so they can better understand how pregnant soldiers feel during physical training.

This week, 14 noncommissioned officers at Camp Zama took turns wearing the “pregnancy simulators” as they stretched, twisted and exercised during a three-day class that teaches them to serve as fitness instructors for pregnant soldiers and new mothers. Army enlisted leaders all over the world are being ordered to take the Pregnancy Postpartum Physical Training Exercise Leaders Course, or PPPT, according to U.S. Army Medical Activity Japan health promotion educator Jana York.

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It's "Administration Gone Wild". America has a retrovirus!