03/08/2012 Intraday Watering

[BullBear52x]

Are we going to have a C wave down??

Nice, If so, down trend will continue. LOD today is very important,

[Cobra]

closer look at today's range. now bulls are attacking.

[uempel]

Are we going to have a C wave down??

We don't know yet...

[SB73]

Yesterday I mentioned 137.20 as a possible right shoulder target. I am not sure if we will get all of the way there and consequently I am booking profits on some minor SSO positions. Still holding NUGT (profit) and BAL (trapped). The recent weeks have given a lot of whipsaw so when profits are there one must grab. This also improves your mental state as it is easier to trade from a winning position as opposed to a losing position. I agree with Senor Cobra that this is wait and see time.

[BullBear52x]

137 is where the trend change from up to down, bulls are fighting to regain that zone.

[uempel]

Thanks Al, I copy you. But I've got to go now, I'm too tired and I've got to take a nap...

[jimme]

Zero volume on anything I am watching. It's spooky. How does it go up when there are no buyers. Maybe it's a big bear flag. Carry on. GLTA jimme

[btran874]

Are we going to have a C wave down??

I'm watching this right now. 3-3-3-3-3 correction. Not sure yet if it will play out.

[Al_Dente]

double top at the gap resistance (blue)
she must breakout here if bulls want to continue
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =259571035

[Mr. T]

The 200 down was just a dirty trick to get bears committed again.

Now the bankers are committed to taking that bear money (again).

[uempel]

double top at the gap resistance (blue)
she must breakout here if bulls want to continue
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =259571035

Last chart....

[Cobra]

new intraday high but it's just marginal, so key time.

[btran874]

Are we going to have a C wave down??

I'm watching this right now. 3-3-3-3-3 correction. Not sure yet if it will play out.

This is the 3-3-5 correction and would be bears worst nightmare for those held shorts below 1360. This is another potential candidate of the corrective nature that we are in. So much uncertainty and not sure which one will play out so I'll watch.

[TraderGirl]

Looks like we had an ABC up, NOW do we start to head down???

[BullBear52x]

I posted this chart on my blog last week, do not discount it. gas at the pump is now 4 bucks in average? fishing season will be good less fishermen

[Tabby]

TNA and $RUT had 3 legs so far on 1 min chart.

[fehro]

right into resistance on the 60m SPX, Daily... turn down? or bull flag (blue channel)? or ... for really bullish look... invs H&S forming on SPX 15m? target 1390?

[TraderGirl]

Another possibility...

[Al_Dente]

uempel
early this morn (note orange box):
see what I mean here with inverted trin (I put a 3ma on her to smooth her out a bit)
while spy was downticking, the volume was flowing into ADVANCING stocks
when spy made her double bottom at 10:00 to 10:30 ish,
INVERTED TRIN MADE A HIGHER LOW and just kept moving up….
etc
she’s good; she’s real good….
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =260018308

[grachu]

cobra from last night report.... hint everyone should be a member by now...
is I’m thinking of sell the bounce .. still on ????? thanks .