01/10/2012 Intraday Watering

[waverider]

Based on the SPY LOD to spike high, the target may be 130.15?

[Cobra]

the OR is shallow, so the breakout is not reliable. we'll see.

Cobra is that tidbit of pattern knowledge an Al Brooks thing? Where did you learn that?

from my observation. this is not AI stuff.

[Mr. BachNut]

gapupbig.png (5.49 KiB) Viewed 3983 times

Pilot Short bloodied. Not yet fired as stop not hit. Stop is above big declining tops line.
Beating will probably continue for the day. Chart above illustrates recent trading on 1%+ gap up days.
McClellan Oscillator overbought intra-day reading.
Max Pain for OPEX in 8 days is SPY = 125.
Need more trade to gauge other indicators.
If the trade survives today, will look for follow-through or flop-through tomorrow.
Given the chance, will look to snug stop near high of today or tomorrow whichever is greater.

Today, IMO, completes an intermediate inverse head and shoulders at the end of a long term symetrical triangle.
This is technically bullish if it doesn't prove to be a bull trap, which we should know pretty soon.

[cougar]

FXI breakout:

[Carlos]

Looking for a point to initiate my short position for today.

I have a target at 129.90 for today. Want to see what happens when our noses start to bleed.

think we might hit 1301 or so on the SPX. will add shorts there. SPX bollinger crash on the hourly is a potential trade at the close of this hou.

Upper bollinger at 1303. I am in no hurry until I see a confirmed reversal. Cobra has taught me greater patience not to say that I still don't take counter trend trades, but they are with better targets and tighter stops.

What parameters do you use for the bollinger bands and at what time interval did you see the 1303?

[fehro]

still a little higher? low 1300-1310ish

[Al_Dente]

Internals on the daily
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =252059429

[SB73]

Looking for a point to initiate my short position for today.

I have a target at 129.90 for today. Want to see what happens when our noses start to bleed.

think we might hit 1301 or so on the SPX. will add shorts there. SPX bollinger crash on the hourly is a potential trade at the close of this hou.

Upper bollinger at 1303. I am in no hurry until I see a confirmed reversal. Cobra has taught me greater patience not to say that I still don't take counter trend trades, but they are with better targets and tighter stops.

What parameters do you use for the bollinger bands and at what time interval did you see the 1303?

20,2,0 on the daily....I look at on all time frames, but for targets most often use the daily.

[Cobra]

this market is really funny, simply gap up then stay there forever. I don't think this is accumulation, it should be selling into the strength.

[cougar]

What I see it this morning:

1. The drop of QID under the ellipse is not confirming a new uptrend for QQQ… yet. A further drop of QID under 40.5 would negate the previously formed Bullish QID Butterfly.
2. SPY is finally showing some strength and tries to climb above the previous high…
3. DAX is UP big time, while Siemens warns for 2012, citing “macroeconomic headwinds“. This is a rare paradox for DAX and its top indicator-stock!
4. Chinese breakout confirmed, as shown by FXY: above the Acceleration Band…

======
Staying long FXI calls, bought yesterday….when I used BullBear’s help and “Finance PhD” as a contrarian indicator. (However, my order to also short FXP did not fill…unfortunately…)

Charts later

Thanks, I'll try to draw that up on QID, learning a lot from your charts![/quote]
This is where I see the “point of no return” for QID. However, so far the drop seems to be already correcting UP…
Surprised?

[Me XMan]

I feel so giddy today and wanting to buy everything in sight

this market is really funny, simply gap up then stay there forever. I don't think this is accumulation, it should be selling into the strength.

[noob]

Most of the big up moves were gap ups since es 1150?

[waverider]

If the second push up fails, that should be a nice short entry.

I agree: SPY 129.42 is the “magenta line in the sand". LOL!
A breakout above it should take it to 131. 25 = 6/8 MM resistance coinciding with the projection of a previous MAW crossover (on 07/27)

Will keep an eye on that line, QID staying afloat nicely .

[TWT]

EURUSD: short term count

[cougar]

this market is really funny, simply gap up then stay there forever. I don't think this is accumulation, it should be selling into the strength.

Thanx Cobra! I am considering some signs of DISTRIBUTION here...That would be quite bearish , annihilating the “forced breakout”…???

[Mr. BachNut]

FXI breakout:

A good close would complete a double bottom formation with a target of 40.5+ I think.

[dcurban1]

Greece Nears its Endgame

http://www.atruecontrarian.com/2012/01/ ... dgame.html

Technical Analysis – January 10, 2012, Copper

http://www.atruecontrarian.com/2012/01/ ... -2012.html

I have to check my notes but the turn date coming up is a sideways move before the uptrend resumes.

Yes you better check should be BIG reversal

I see the downward reversal coming in mid to late March.

[johnnywa]

tomorrow

[HappyFriday]

TVIX and VXX both are cheap !
Buy Buy Buy

[99er]

Update

AUDJPY http://99ercharts.blogspot.com/2012/01/audjpy_10.html

Plunging towards the neckline. Way down there.