03/04/2011 Intraday Watering

[Fritz Baxter]

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

Financials look even weaker. Don't think SPX takes off without them, but we should have a decision soon.

[BullBear52x]

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

Financials look even weaker. Don't think SPX takes off without them, but we should have a decision soon.

Financial? Oh! yeah!

[koolblue]

Heres an update on the very short term es charts....

[Cobra]

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?

ISEE index is for retailers only, so when it's very high like today, it means we retailers are very very bullish.

CBOE is a little complicate to read, I'll have to see other stuff this weekend and hopefully could find something.

[Cobra]

Still on support, looks like a bear flag, a breakdown would be bad...

[zombiebraingoo]

Going long here...

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

I'm still long but only because the metals are supporting my long losses. 1314 just gave way - I will make a decision at after Noon...looks weak but as long as the channel on dow holds I will probably stay with my holdings.

[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?

ISEE index is for retailers only, so when it's very high like today, it means we retailers are very very bullish.

CBOE is a little complicate to read, I'll have to see other stuff this weekend and hopefully could find something.

So, are we all buying the dip, then?

I'm looking for a gap fill on the /ES @ ~ 1308, from earlier in the week, but it certainly seems like we're fighting it out, right here. I'd have to see a new low TICK, before I'd feel comfortable going long on a day like today.

[zombiebraingoo]

PUG's alternate count may be in play here - http://pugsma.wordpress.com/2011/03/03/ ... ate-4-eod/

The alternate count (blue) is that minor 4-[3]-P3 is tracing out an ascending triangle with flat top of 1332 and measurement height of 38 points off the 1294 wave (a) low. Wave (d) completed today and wave (e) could retrace back toward the 1315 pivot or even the 1308/1312 gap to finish off minor 4. The triangle target for minor 5-[3]-P3 would be 1332 + 38 => 1370 or just above the 1363 pivot.

[BullBear52x]

IWM is out, now we wait for the THREE super indexes. SPY, QQQQ, DIA.

[Me XMan]

Pull up! Pull up! Captain!!

IWM is out, now we wait for the THREE super indexes. SPY, QQQQ, DIA.

[BullBear52x]

Pull up! Pull up! Captain!!

IWM is out, now we wait for the THREE super indexes. SPY, QQQQ, DIA.

This moment is when you either get DOW theory comfirmed or not.

[Cobra]

Still hanging above support. Doesn't look good though.

[zebra]

Pull up! Pull up! Captain!!

IWM is out, now we wait for the THREE super indexes. SPY, QQQQ, DIA.

are you calling Ben?

[pezhead9000]

Well, yesterday's 'sell on strength' report was pretty accurate.

Thursday
Today's sell on strength report top 10:
iShrRu2000 (IWM)
VirginMedia (VMED)
DowChem (DOW)
SPDR S&P 500 (SPY)
JPMorgChas (JPM)
IBM (IBM)
WellsFargo (WFC)
GoldmanSachs (GS)
SPDR DJIA Tr (DIA)
CocaCola (KO)

[koolblue]

Pull up! Pull up! Captain!!

IWM is out, now we wait for the THREE super indexes. SPY, QQQQ, DIA.

...SCOTTY!!! WE NEED MORE POWER!!!

[99er]

/ES
Update.
http://99ercharts.blogspot.com/2011/03/es_04.html

[zebra]

Pull up! Pull up! Captain!!

IWM is out, now we wait for the THREE super indexes. SPY, QQQQ, DIA.

...SCOTTY!!! WE NEED MORE POWER!!!

just print some USD and put them in the Warp core..

[vsedge]

I am looking for 19.54 vix for the moment, then over the weekend shorts can sleep better.

I actually think the opposite. If VIX close above 19.28, then more likely next week SPY would be above the close of this week.

I could be wrong about VIX, my understanding is that if we are going to see a continuation of correction ( real one) the Vix, will have to head higher maybe in the 20ish.[/quote]

It would be very interesting if VIX close above 19.28 today. It would be the first time that VIX closes in green in 3 consecutive weeks, after the market clash in later 2008. Could really mean something different is coming?

[evergreen]

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...

Thanks! what's the platform/software for the chart?

[KENA]

Sorry for the info on CY. It is ready to go but on the SHORT side. Not long