01/18/2012 Intraday Watering

[noob]

it'd be the 3rd test on the low, so if indeed get tested, better not hope it'd hold.

Cobra, seems like we might need a 4th test.

[Cobra]

volume surge, biggest bar, so may see pullback here, then we'll see.

[Richarab]

volume surge, biggest bar, so may see pullback here, then we'll see.

those hamstrings are out early today... what is up?

[TWT]

SPX: The ED idea

[pady]

Today is POMO day. ( since yesterday's got cancelled ).

[brandyjoco]

Maybe they will hold the market sideways for the next couple of days into Options Expiration. Then it usually drops after Options Expire.

[Al_Dente]

1 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
Trin .60 and changing.... buying pressure


PAGING STUCAP: Wednesday morning quarterbacking: note the clear sell signals provided by the internals (red circles) yesterday morning barely 10 minutes into the open.

[BullBear52x]

Sell Ding ding ding @SPY at 129.91

[brandyjoco]

Hi Al,
thanks for your charts. I am new here. How do I understand if there is buying or selling pressure? thanks

[noob]

volume surge, biggest bar, so may see pullback here, then we'll see.

Cobra, this is such strong rebound... It's also the third time we test 1300? Seems a descending triangle in the forming.

GS is really strong.

[jarbo456]

guess that was a small double bottom...

this market just wants to go up and up and up...

[BullBear52x]

Trading above 130.15 bears need to rethink the strategy. I am looking at 128.5 still

[KENA]

The Dorsey Wright NYSEBP and the S & P BP have been slowly going up and only needs .36 & .37 to add another X and that would be bullish.Things are getting toppey but maybe not quite enough.Still holding my CVLT short. This is one that you do not chase( imho )but staying hedged.Will add to shorts later but when??? Wait and see.

[57chevy]

My Elliott Wave eye sees 1300 as a good area for a truncated 5th wave.

[Cobra]

push up is strong, so at least there's another leg up after the 1st pullback.

[KENA]

Looks like they want to break the 130.12 area..Any bets???

[Buckethead]

imho, the tape is reminiscent of late 2010. i came in this week as a bear, but if bulls can manage a consolidation this week, more upside to 1340-1350 is quite possible. from what i can see, the majority wants a pullback for various reasons. they are short or want to get long on a dip... i have lost money this week churning on this tite low volume tape. going to wait for resolution of trend.

[oldpigwang]

Cobra: Is this Spy 130 your lower high?

[Al_Dente]

Hi Al,
thanks for your charts. I am new here. How do I understand if there is buying or selling pressure? thanks

Hi Brandy:
Here’s a good data sheet on TRIN
Stockcharts.com >home >search line (type anything). There is plenty more on trin and other internals there.

http://stockcharts.com/school/doku.php? ... ators:trin


PS: The “unofficial” board rules are: when u have a good day u must offer us all “brandy on the house”

[brandyjoco]

Thanks! Hoping a good day soon as I am a bleeding bear...