03/27/2012 Intraday Watering

[Cobra]

OK, the signals won, my feeling was wrong. key time and lunch time, will be back.

Cobra,

So the bias is down now?

I'm neutral. no idea now.

[Ed02]

Does any one think a descending triangle is forming? If so, what is the target? Thx.

[TraderGirl]

SPX: EW wise with a completed fiver up it is now reasonable to expect a corrective pullback

How far down ?

The initial projection of a potential DZZ has a target range = 1414-1412, which might be too shallow.

The next target is at the previous wave (4) = 1409

One more leg down to around 1414 would work on a bullish wedge....

[Cobra]

I think the bias is still up, as it simply took too long for bears to push down, so there're some chances of double bottom here.

[OverUnder]

Finally some decent green candles.

Man when you said a small range day Cobra, you weren't kidding.

[ken_d17]

SPY looking like a bear flag.

Can a flag formation be negated based on length? In the current case the "flag" looks about as long as the recent trend.

[essessme]

Thanks, and good luck to you!!

Thanks

Seasonality points to ugly last couple of days of march - still early but end of month options as of now suggest 1395ish close for ES Friday... hmm 1400 cash to close out the month nice round number... completed 2 TD (working on 3rd) of possible 4 TD Merc retro cycle a small flush here and strong close to setup a high at Wed close/Thur open would be niiiiiice.

edit seems they may have other ideas than a flush never easy lol

[Cobra]

Finally some decent green candles.

Man when you said a small range day Cobra, you weren't kidding.

Usually, when I say: boring, the day tends to be very violent.

When I say: I'm so disappointed, the market would not disappoint me anymore.

Anything else you guys found when I said something then something usually happens unexpected?

[TraderGirl]

Breakout, will backtest...

[Cobra]

well, here comes the push up.

[BullBear52x]

Today is weaker then usual, a little higher this time will trigger sell on all major indexes, not good the bulls need to smack the VIX down before the TVIX got over night pass to sleep over, not good.

[dmid]

AAPL is not a short. Don't short anything that make a decisive new high as chances are the high will be revisited at least.

Thanks

Don't quite agree with you Cobra: you and I yes, we don't know if aapl is a short or not, so we have to wait for a non-confirmation of today's high resp. we have to wait for a lower high. But we don't know Mr.(or Ms) dmid, perhaps he/she is an incredibly astute analyst who senses something we don't know...

Three years ago a guy told me that SPX was at its low when it was down at 670. I didn't even listen to him, considered him a jerk and waited patiently for SPX to go down to 630 or some level like that. I woke up when SPX was 20% higher...

Mr. Dmid is not an analyst or someone like. Learning from all you guys, but i guess once AAPL breaks down, Big money can be made thru puts, just waiting for that while day trading the calls... so far very good

[noob]

Cobra, do you feel bulls are weak? or consolidate above breakout is good for bulls? Thanks!

[johnnywa]

well, here comes the push up.

Bulls is that all you got

[johnnywa]

well, here comes the push up.

Bulls is that all you got

[BullBear52x]

Oh now before trigger a new sell, they decide to roll hmm.....

[snakehead]

My two cents: the only thing moving the market is Bernanke's jaw.

We'll see if he opens his mouth again this week and/or is serious about more easing
Or if he got a phone call from his buddies at Goldman to lift the markets one last time
so the big boys could exit at the high.

[Cobra]

if you look at a little bit bigger picture, it's bull flag, therefore is bullish.

[BullBear52x]

this is the most mess up internals I've seen in weeks.

[Cobra]

Cobra, do you feel bulls are weak? or consolidate above breakout is good for bulls? Thanks!

Just answered. a little bit bigger picture is bullish.