11/11/2011 Intraday Watering

[99er]

Honey?
SPX http://99ercharts.blogspot.com/2011/11/spx_11.html

Start the truck!

[Dow Trader]

trade what you see ... based on last 2 days market actions, we are in trading range.
In trading range, we have a strong sell signal at the bottom of it ( bear trap )and strong buy signal at the top of the range ( bull trap ). and this what we are seeing now... I know most of you guys know that but I just wanted to remind .

[bushwaffle]

trade what you see ... based on last 2 days market actions, we are in trading range.
In trading range, we have a strong sell signal at the bottom of it ( bear trap )and strong buy signal at the top of the range ( bull trap ). and this what we are seeing now... I know most of you guys know that but I just wanted to remind .

good reminder, thanks.

[Al_Dente]

look at ewq 5min stick out of the gate

[sirgiyan]

I would suggest to read the following link, which is related to currency sentiment.
I do not think the up move will last...
http://www.dailyfx.com/technical_analys ... nt=EUR/USD
They update it evry thursday. Enjoy the latest issue

[alvian33]

it's hard to be a bear in this market, I guess it's due to hibernation season

[swinger]

I'm extremely confused right now, any elliot wavers out there that can help??? Aren't we currently in a 3-3-3-2 minor wave up? I've never been more convinced of anything, but maybe I'm wrong. I guess that is still in play as long as we don't break 1276. I'll be taking on a nasty loss just to see if that is right or not. Thanks in advance for any help!

Why do you have so much faith in Elliot wave? A broken clock would be right twice a day.

[pidge66]

SPY Wrong 200 day EMA. Who's right? http://wp.me/p1jbrN-hi

Is your SPY 200 day EMA 122.92 or 123.86??

[Dow Trader]

Hourly update

[99er]

Gee honey...take a look.
RUT http://99ercharts.blogspot.com/2011/11/rut_11.html

A nice Butterfly.

[Al_Dente]

Note $GRDOW now only +0.51%.... not exactly a convincing Greek rally?
http://stockcharts.com/h-sc/ui?s=$GRDOW ... =248091728

[alvian33]

I'm extremely confused right now, any elliot wavers out there that can help??? Aren't we currently in a 3-3-3-2 minor wave up? I've never been more convinced of anything, but maybe I'm wrong. I guess that is still in play as long as we don't break 1276. I'll be taking on a nasty loss just to see if that is right or not. Thanks in advance for any help!

Why do you have so much faith in Elliot wave? A broken clock would be right twice a day.

agree

[jarbo456]

per the usual - this market is bullishly bonkers - 300+ point ramp - and the bear leg is a 400 point single leg down move. market makers are going to push this as high as possible, while the bond market - less than euphoric - is away for the long weekend.

in the meantime, while the equity market is pushing up over 2.6% from it's very low (1226-1258) (SPX)...the dollar (78.42-77.43) (/DX) has lost just around 1.2% from it's very high. which divergence makes sense? are we following fx or is fx following the equity market...i think that's an easy enough question to answer.

[99er]

Honey?
SPX http://99ercharts.blogspot.com/2011/11/spx_5515.html

That Butterfly reminds me of your bikini.

[SB73]

I'm extremely confused right now, any elliot wavers out there that can help??? Aren't we currently in a 3-3-3-2 minor wave up? I've never been more convinced of anything, but maybe I'm wrong. I guess that is still in play as long as we don't break 1276. I'll be taking on a nasty loss just to see if that is right or not. Thanks in advance for any help!

Why do you have so much faith in Elliot wave? A broken clock would be right twice a day.

agree

Elliot wave has sex appeal, but in the end doesn't deliver results. Go take a look at a website like this one and read through all of the alternates and gyrations. I think this guy is relatively successful, but I would believe it is a product of him being more bullish biased in this environment. Perhaps in a more bearish scenario he would struggle as he is generally favoring a bullish count.
http://waveprinciple.blogspot.com/

[gabor]

Coba, I am puzzled. How can NATV/NYTV be a reliable top indicator? It is the ratio of nasdaq volume over the total NYSE volume, right? When the relative activity is higher on the nasdaq compared to the total nyse activity, then it must be a top ... why?

[jarbo456]

we have yet another "beat" in the economic front as well, as the UMich Survey comes in at 64.2 vs 61.5 expected.

interesting how the economic data has been kicking some serious ass this week.

[uempel]

This is yesterday's chart showing a fine H&S target. Yesterday I would have shorted here, today I'm not. I checked many charts last night and I'm now more bullish than yesterday. If I short (not sure yet) at a higher level.

[Al_Dente]

Internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =247748592

[jarbo456]

my SLV puts went from a 25% winner, to a (30%) dog in less than 24 hours. think i traded that one poorly...