03/10/2011 Intraday Watering

uempel · Post by **uempel** » Thu Mar 10, 2011 1:48 pm

Daily P&F charts for SPX look ok if 1300 holds, hourly SPX P&F charts look weak. Daily COMPQ P&F looks as though it's got to go down another 4%.

stocksage · Post by **stocksage** » Thu Mar 10, 2011 1:51 pm

When we close below the 50dma or 55dma today bulls will start selling big.

zebra · Post by **zebra** » Thu Mar 10, 2011 1:54 pm

stocksage wrote:When we close below the 50dma or 55dma today bulls will start selling big.

may take more tries before the momentum can be reversed.

Travelfrog · Post by **Travelfrog** » Thu Mar 10, 2011 1:56 pm

I think a good correction now is long overdue and will be good for the markets allowing further room for expansion towards year end.

Post by **Cobra** » Thu Mar 10, 2011 1:57 pm

Every time a back test of the previous high, there's a chance of reversal. Let's see how the previous high being tested. I almost give up on the bear side though.

BullBear52x · Post by **BullBear52x** » Thu Mar 10, 2011 2:03 pm

Cobra wrote:Every time a back test of the previous high, there's a chance of reversal. Let's see how the previous high being tested. I almost give up on the bear side though.

THe day you can not make more than $100 on any trip then it's most likely a range bounce, channel trade action, scalp to the max for intraday players.

Post by **Cobra** » Thu Mar 10, 2011 2:04 pm

Back to resistance area.

simpletrader · Post by **simpletrader** » Thu Mar 10, 2011 2:05 pm

uempel wrote:Daily P&F charts for SPX look ok if 1300 holds, hourly SPX P&F charts look weak. Daily COMPQ P&F looks as though it's got to go down another 4%.

that is what puzzled me now. Qs is much weaker than just a correction. Others seems OK.

BullBear52x · Post by **BullBear52x** » Thu Mar 10, 2011 2:06 pm

Here is SPY intraday channel.

99er · Post by **99er** » Thu Mar 10, 2011 2:15 pm

10-Year Note
Catches a bid.
http://99ercharts.blogspot.com/2011/03/10y_10.html

Post by **Cobra** » Thu Mar 10, 2011 2:20 pm

So far the 30 min OR breakdown trade still valid, but in case it's a failure, I'll maintain what I said this morning that today's low will likely be tested within a day or two, based on the statistics.

brownstein00 · Post by **brownstein00** » Thu Mar 10, 2011 2:28 pm

stats on revisiting low in a couple of days very helpful...thanks

BullBear52x · Post by **BullBear52x** » Thu Mar 10, 2011 2:31 pm

Bear Flag???

Post by **Cobra** » Thu Mar 10, 2011 2:37 pm

Volume surge, so a little rebound here. I dare not say if we'll have a 2nd leg down anymore.

brownstein00 · Post by **brownstein00** » Thu Mar 10, 2011 2:40 pm

saudi's have fired on protestors at rally in east

Post by **Cobra** » Thu Mar 10, 2011 2:41 pm

The 30 min OR breakdown trade still valid. Remember the target...

Post by **Cobra** » Thu Mar 10, 2011 2:43 pm

brownstein00 wrote:saudi's have fired on protestors at rally in east

BullBear52x · Post by **BullBear52x** » Thu Mar 10, 2011 2:57 pm

TYP 1h positive candle or N formation N=Never return so let see here. Tech is in trouble?

zombiebraingoo · Post by **zombiebraingoo** » Thu Mar 10, 2011 3:00 pm

man we are right at the 55ma

the next hour will be interesting - watching USD and metals

still not betting this is an impluse down...YET! lol I've got a lot of $'s on the line here...

Jennyahwu · Post by **Jennyahwu** » Thu Mar 10, 2011 3:03 pm

Cobra ,what can we do ? stand with bear? I believe now trend is clear. is it down trend for a month? am I right? thanks

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03/10/2011 Intraday Watering

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