11/03/2011 Intraday Watering

[pady]

@wave - I dont see any EW analysis for US markets. I see one AUD image there. Must be missing something.

[pady]

They really want to take out 1263.

[tdo722]

I wouldn't bet on 3x ETF unless I am almost 90% sure of the direction.

[Cobra]

Thanks! I still think it is, it came up to fill the gap, but as you said, the pushup is overlapping so still feel weak. Any reason in particular why you don't think it's a bear flag any more? Thanks.

Cobra, do you still see it as a bear flag? Thanks.

no

rebound too big.

[tdo722]

double top?

[Cobra]

Hi Cobra, this morning you called the opening stretched and voiced the expectation of a pullback which happened as predicted.
What is your definition of stretched? Is it the absolute size of the gap or in relation to a previous pattern?

Thank you,
Dutchy

check carefully the chart when I said it's too stretched. don't miss a single there, you'll know why.

[StrikePrice]

@wave - I dont see any EW analysis for US markets. I see one AUD image there. Must be missing something.

Open that image up and click left arrows to get to SPX charts.

Thanks wave, nice charts. Some study time for me.

[waverider]

Update
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =247748592
http://www.youtube.com/watch?v=IlRF43-x ... re=related

If this continues up today/gaps up tomorrow I'm screwed. R.I.P. Amy.

watch yr tick, watch a turn??? u may not be screwed at all... i'm out of longs (early)
loved amy

Tick looks bipolar, 126.21 is definite massive resistance from that gap down, bulls seem determined to run it... Per Petsamo, if we close higher than the open 60% chances of gap down. Holding short overnight unless this breaks to the upside.

Mr. Getz:

https://www.youtube.com/watch?v=j8VPmty ... re=related

[CognitiveDissonance]

anyone know the expectations on job numbers tomorrow?

[waverider]

@wave - I dont see any EW analysis for US markets. I see one AUD image there. Must be missing something.

Open that image up and click left arrows to get to SPX charts.

Thanks wave, nice charts. Some study time for me.

They are not mine, lol. No problem though.

[xfradnex]

Hi Cobra, this morning you called the opening stretched and voiced the expectation of a pullback which happened as predicted.
What is your definition of stretched? Is it the absolute size of the gap or in relation to a previous pattern?

Thank you,
Dutchy

Look at MAs on his chart. if there a very large seperation between MAs and actual the lines, they will try to meet each other in the middle somewhere. From there, who knows. Most of the time this will happen on the open(when there has been a gap up or down) or when there has been big market news. In this mornings open, there was a gap; a good opertunity for a move for 15 minutes or more. Need to figure out what the S&P implied open is and translate that to a SPY, SSO, etc. be ready to pull trigger on very open.(GLTA). I need to do this myself(find a good place that gives a good implied opening value on the Web).

[StrikePrice]

Here's an Alternate Wave count that is good for Cobra's call of a higher high, which I didn't knock him on. We're still in Wave A (a Leading Diagonal) and now in Wave 5 (an Ending Diagonal).Overlapping waves are so damn tricky.

[uempel]

Something real big must happen Friday morning so that SPX can jump overhead resistance:

[Cobra]

Hi Cobra and anyone:
The price of TNA and TZA up down proportion are often a difference of 0.2-0.5 percent . When TZA down it down more percentage than TNA's up. How do they compare to IWM , I know it is 3 times of IWM , do MMs of TNA TZA IWM interact to each other? Do IWM RUT price actually reflect the Russel 2000 stock's price?

To explain this requires lots of typing, you can search online, lots of discussion there. In short, TNA/TZA do match IWM just they cannot be strictly match especially when the trend is against the fund, they tend to drop more.

IWM mostly reflects the RUT.

[jarbo456]

95k expected...103k previous for the NFP numbers tomorrow.

[Me XMan]

Put the fork in for todays rally IMO.

Something real big must happen Friday morning so that SPX can jump overhead resistance:

13.png

[Cobra]

you can see it as double top or kiss the trend line goodbye, but the price need breakdown to confirm, don't forget it could be Cup with Handle, so hard to say now, although doesn't look pretty so far.

[CognitiveDissonance]

95k expected...103k previous for the NFP numbers tomorrow.

Thanks!

[Dutchy]

Hi Cobra, this morning you called the opening stretched and voiced the expectation of a pullback which happened as predicted.
What is your definition of stretched? Is it the absolute size of the gap or in relation to a previous pattern?

Thank you,
Dutchy

check carefully the chart when I said it's too stretched. don't miss a single there, you'll know why.

Maybe long wick of candle?

[Petsamo]

anyone know the expectations on job numbers tomorrow?

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