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Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 3:52 pm
by andyzaky
- What do we trust? Chalkin Oscillator that argues for an incoming sell-off or the obvious bottoming patter?
We have a major conflict on the QQQQ. The 30 and 60 min chalkin oscillator argues for a near term top. WE should see some sort of incoming selling pressure very very soon. Yet, the pattern of multiple failed retests of the lows argues for a near term bottom. These bottoms have been some of the easiest to trade since the start of this selling pressure beginning with Egypt.
Another issue is the clear inverted head & shoulders being put in on the SPY and the potential double bottom on the two week chart. So what the hell.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 3:53 pm
by 99er
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 3:53 pm
by greenback
Cobra wrote:I see real resistance ahead.
also ema20 on the 60m chart ...
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:02 pm
by Me XMan
How can you fight the Fed?
Next week they gonna POMO like no tomorrow.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:04 pm
by BullBear52x
Volume gets weaker as we move to the end of day. got chicken out. oh well, not today.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:07 pm
by Cobra
Text book target for H&S Bottom. I think target to red line (MA 200) is quite possible.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:11 pm
by Cobra
Volume surge, we might see a pullback here.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:15 pm
by Cobra
Big picture, I think this kind of daily bar - open low close almost high of day is very very bullish. Well, still 47 minutes to go, assume we can finally close around here. The next Monday, seasonality says, Dow up 17 of last 23 times, very bullish too.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:16 pm
by zombiebraingoo
be nice if spx broke 1307 and got one toe over the line!
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:17 pm
by Rezito
Bought SPY calls on the back test of 131.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:21 pm
by zombiebraingoo
looks like we might break up past some resistance levels...bullish to be sure if it prints!
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:23 pm
by BullBear52x
zombiebraingoo wrote:looks like we might break up past some resistance levels...bullish to be sure if it prints!
End the day with Bullish engulfing?
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:24 pm
by Cobra
BullBear52x wrote:zombiebraingoo wrote:looks like we might break up past some resistance levels...bullish to be sure if it prints!
End the day with Bullish engulfing?
Bullish Engulfing is so, then means a little down day the next Monday (71%) but after that quite bullish too.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:28 pm
by Cobra
Well, the next resistance area. Don't tell me we'll reach it today.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:29 pm
by Me XMan
I'll drink a few for you tonight!
BullBear52x wrote:zombiebraingoo wrote:looks like we might break up past some resistance levels...bullish to be sure if it prints!
End the day with Bullish engulfing?
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:31 pm
by 99er
SPX
Channels now better defined.
http://99ercharts.blogspot.com/2011/03/spx_9470.html
That's it for today. Have a great weekend, folks.
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:31 pm
by zombiebraingoo
Me XMan wrote:I'll drink a few for you tonight!
BullBear52x wrote:zombiebraingoo wrote:looks like we might break up past some resistance levels...bullish to be sure if it prints!
End the day with Bullish engulfing?
be careful not to drink and chart!
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:32 pm
by blacklotus
andyzaky wrote:We have a major conflict on the QQQQ. The 30 and 60 min chalkin oscillator argues for a near term top. WE should see some sort of incoming selling pressure very very soon. Yet, the pattern of multiple failed retests of the lows argues for a near term bottom. These bottoms have been some of the easiest to trade since the start of this selling pressure beginning with Egypt.
Another issue is the clear inverted head & shoulders being put in on the SPY and the potential double bottom on the two week chart. So what the hell.
Interesting pic Andy - have you looked at past corrective phases to see if there is any precedent?
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:35 pm
by zombiebraingoo
fading like all my dreams!
Re: 03/11/2011 Intraday Watering
Posted: Fri Mar 11, 2011 4:36 pm
by BullBear52x
[
BullBear52x wrote:zombiebraingoo wrote:looks like we might break up past some resistance levels...bullish to be sure if it prints!
End the day with Bullish engulfing?
[/quote]
be careful not to drink and chart![/quote]
You scare me
how can you see me? market is now acting crazy.