12/22/2011 Intraday Watering

[TWT]

SPX: Maybe a triangle and the last wave up

[Eagle_Eye]

I posted this chart pattern last Thursday/Friday (a few times - and I took the laughs ) and said I was looking for one more big down day Monday, and then big gap up Tuesday. I posted my TNA buy on Monday a couple minutes before close. Both happened. Thinking we head towards the SPX 200MA at around 1259, and then pause/consolidate down for a day or two, and then continue higher into year end. After that, not so pretty.

Until this pattern diverges, this is how I'm playing it.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=1

Tis the season.

And again, I expect a pause/consolidation soon, maybe a drop to a bit below yesterday's low....then continue higher up towards 1300. US seems to be trading on its own data and not focused on Europe...at least for the next two weeks I think. Next year....no bueno.

[bullybear]

uhhhhh.... excuse me.... but... we seem to be stuck... and need help...

stupid_stuck_bull.jpg (45.71 KiB) Viewed 4115 times

[SB73]

I posted this chart pattern last Thursday/Friday and said I was looking for one more big down day Monday, and then big gap up Tuesday. I posted my TNA buy on Monday a couple minutes before close. Both happened. Thinking we head towards the SPX 200MA at around 1259, and then pause/consolidate down for a day or two, and then continue higher into year end. After that, not so pretty.

Until this pattern diverges, this is how I'm playing it.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=1

Tis the season.

And again, I expect a pause/consolidation soon, maybe a drop to a bit below yesterday's low....then continue higher up towards 1300. US seems to be trading on its own data and not focused on Europe...at least for the next two weeks I think. Next year....no bueno.

I believe this matches very colse to my sentiment as well as posted earlier. I don't quite see 1300 perhaps 1285.

[Al_Dente]

Where did Prince Uempel go? Anyone have a link to support his “GS is selling” info?

I think he was joking Uncle Al. He was saying that their 2012 prediction is the current price...so now they're selling and going to horde their cash (I believe he was being facetious).

Jarbo of the big bowls: Al is in big trouble when he can’t tell kool-aid from joking, oy.
BTW: I miss your running analysis of eru/usd….are u mad at us??

Ooooooo, speaking of bull, 1 min here
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

wake up call….. http://www.youtube.com/watch?v=GVJZKb9SCLA

[Eagle_Eye]

I posted this chart pattern last Thursday/Friday and said I was looking for one more big down day Monday, and then big gap up Tuesday. I posted my TNA buy on Monday a couple minutes before close. Both happened. Thinking we head towards the SPX 200MA at around 1259, and then pause/consolidate down for a day or two, and then continue higher into year end. After that, not so pretty.

Until this pattern diverges, this is how I'm playing it.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=1

Tis the season.

And again, I expect a pause/consolidation soon, maybe a drop to a bit below yesterday's low....then continue higher up towards 1300. US seems to be trading on its own data and not focused on Europe...at least for the next two weeks I think. Next year....no bueno.

I believe this matches very colse to my sentiment as well as posted earlier. I don't quite see 1300 perhaps 1285.

Yes - agree. And was thinking anywhere between 1280 - 1320...with 1300+ definitely being a stretch. I'm considering this as a blow off top....and first quarter 2012 not being pretty. Keep thinking about Cobra's 1010 SPX....but plenty of time to look at things before that.

[Cobra]

the 2nd test of the day high always is key to watch. again, holiday market, I'd assume it simply up and up, slowly though.

[jarbo456]

Where did Prince Uempel go? Anyone have a link to support his “GS is selling” info?

I think he was joking Uncle Al. He was saying that their 2012 prediction is the current price...so now they're selling and going to horde their cash (I believe he was being facetious).

Jarbo of the big bowls: Al is in big trouble when he can’t tell kool-aid from joking, oy.
BTW: I miss your running analysis of eru/usd….are u mad at us??

Ooooooo, speaking of bull, 1 min here
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

wake up call….. http://www.youtube.com/watch?v=GVJZKb9SCLA

no...i just didn't think much about my charts. i also have been working on something else...

with that being said, whenever i comment, i'm not commenting out of thin air...it's all based on the charts that i'm watching.

[jarbo456]

I posted this chart pattern last Thursday/Friday and said I was looking for one more big down day Monday, and then big gap up Tuesday. I posted my TNA buy on Monday a couple minutes before close. Both happened. Thinking we head towards the SPX 200MA at around 1259, and then pause/consolidate down for a day or two, and then continue higher into year end. After that, not so pretty.

Until this pattern diverges, this is how I'm playing it.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=1

Tis the season.

And again, I expect a pause/consolidation soon, maybe a drop to a bit below yesterday's low....then continue higher up towards 1300. US seems to be trading on its own data and not focused on Europe...at least for the next two weeks I think. Next year....no bueno.

I believe this matches very colse to my sentiment as well as posted earlier. I don't quite see 1300 perhaps 1285.

Yes - agree. And was thinking anywhere between 1280 - 1320...with 1300+ definitely being a stretch. I'm considering this as a blow off top....and first quarter 2012 not being pretty. Keep thinking about Cobra's 1010 SPX....but plenty of time to look at things before that.

been following a similar analysis...holding 100 Jan 125 SPY calls.

[Cobra]

overnight high now. let's see.

[Al_Dente]

Baron von Baron
Your dbv is leading higher??
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

http://www.youtube.com/watch?v=gAdTsAKv ... re=related

[Cobra]

target. but the current bar could be an exhaustion bar, so a pullback here maybe first.

[SB73]

15 of last 18 candles on the 60 min are positive...very nicely done by the bulls.

[Nomorework]

So let me ask, is anybody daring to short here? Seems everyone in the bull camp...

I'm just here to learn all I can from Cobra and the other gurus on the board

[BullBear52x]

Baron von Baron
Your dbv is leading higher??
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

http://www.youtube.com/watch?v=gAdTsAKv ... re=related

Yes, higher but the one that stand out the most is $BKX strongest link.

[SB73]

So let me ask, is anybody daring to short here? Seems everyone in the bull camp...

I'm just here to learn all I can from Cobra and the other gurus on the board

All I have to do is look at the candlestick patters over the last several years and on a trend day like today we tend to close at the highs. If I am going to short it will be literally right at the close. Really have to buy the dips and make a little here and a little there on a day like today. My gut feel is that tomorrow will be red. Couldn't get a gap fill today (yet).

[stucap]

So let me ask, is anybody daring to short here? Seems everyone in the bull camp...

I'm just here to learn all I can from Cobra and the other gurus on the board

i posted above that the risk/reward here is pretty good for shorts....trendline resistance, 200dma a few points above, and the SPX is hovering near the breakeven line for the year....

But as Cobra just posted --- holiday market seems to have shown up today. Light volume. Likely to push up slowly or just go nowhere. No big drops -- the big boys want to pad their fee buckets.

[Al_Dente]

W*O*W
Dear Internals: I apologize for ANY mean thing I may have said about you
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

http://www.youtube.com/watch?v=qqTveSQo ... re=related

[Al_Dente]

Baron von Baron...Your dbv is leading higher??
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
http://www.youtube.com/watch?v=gAdTsAKv ... re=related

Yes, higher but the one that stand out the most is $BKX strongest link.

What about $SOX !!!!!!

[BullBear52x]

Watch! important Double top, posted this chart early this morning.