06/22/2011 Intraday Watering

[Denali92]

Lets see if the old market wisdom of fading the first move comes true.... had quite a rally in April pre and post the Bernanke press conference.

-D

[KENA]

To continue dn we need to break the 1275/1278 area.If we do then i think we will test the 1260 area again.

[HK88]

IMHO, this market just looks like consolidating after a big move, not much lagging in risky ones (IWM, QQQ, XLF), still a broad based market (RSP). If things do not change dramatically in the afternoon, we could easily hit 1315 near term...

[MajorEasy]

SPY 60 min
both volume ratio and money flow are negative...
however price is positive, thus coin flip time.

[MajorEasy]

watch the S&P advancing issues,
currently it's at 260, slightly bearish
$ADVSP is second chart from the top.
1 minute chart

[Cobra]

nothing to say, 5 min chart doesn't look good, 51.00000000001% chances to rollover, but we'll have to wait and see.

[BlackThought]

market waiting for bernanke.. are they expecting him to mention QE3...?

[MajorEasy]

at this moment bulls are bears are too equal...
can't trade this chop
i'll try to trade the last hour

[zecatreca]

Today is not a funny day.
I think that 1300 will be tested before falling.
I have a small negative divergence building in RSI.

Will see.

[uempel]

Ahh, Cobra, I'm less bearish than you. Don't know about the very short term, but sentiment is too bearish and I'm long and waiting for a bounce up to 1316 - not necessarily today or tomorrow, but give me a few days...

[99er]

ES-ZB
http://99ercharts.blogspot.com/2011/06/es-zb_22.html
Bonds, Ben.

[BullBear52x]

for an active trader, if you have to pull out weekly or monthly charts during the week day, the market is choppy. I am bullish bias but this area is still a good sell the rally spot, a pull back will create a good buying opportunity or shot up above 130 straight from here. not selling unless it trades under 129ish for me.

[99er]

Bored?

Try reading Ben's speech: http://www.reuters.com/article/2011/06/ ... R720110622

[99er]

Bored?

Watch Ben here. http://www.zerohedge.com/article/watch- ... -live-here

[BullBear52x]

My uncle is very smart and powerful, the whole world is looking to his leadership.

[Cobra]

Ahh, Cobra, I'm less bearish than you. Don't know about the very short term, but sentiment is too bearish and I'm long and waiting for a bounce up to 1316 - not necessarily today or tomorrow, but give me a few days...

SPXweekly.png

I'm not bearish.

[BDI]

Ahh, Cobra, I'm less bearish than you. Don't know about the very short term, but sentiment is too bearish and I'm long and waiting for a bounce up to 1316 - not necessarily today or tomorrow, but give me a few days...

SPXweekly.png

I'm not bearish.

Are you bullish?

[ballatines]

high unemployment rate + higher inflation + lower GDP growth ~ it is just like the beginning of another Great depression.

[BDI]

high unemployment rate + higher inflation + lower GDP growth ~ it is just like the beginning of another Great depression.

No doubt......but today's wall street crowd seems a little slow on the take..........

[99er]

DX
The Dollar gets a bid.
http://99ercharts.blogspot.com/2011/06/dx_22.html