11/23/2011 Intraday Watering

[Dow Trader]

Channel update ( ES hourly ) price now at the middle line support 1164

[Tabby]

Update

RUT http://99ercharts.blogspot.com/2011/11/ndx_23.html

Drooling Bear pattern at work.

$NDX

[TWT]

SPX: Maybe wave (III) is in place

[99er]

So honey...what's for lunch?

I want what the Drooling Bear had... Mountain Oysters.

[Thanks, Tabby].

[tomsky]

Alternate stills waits for 26-27 rebound to happen, which should be in this area (the support) with target 15-19 peaks range.

[HighRev]

DAX, CAC, and Euro STOXX 50 HAVE NOT made new lows since the NY open.

Where new lows have been made, it's a grind; unlike the bottom falling out like it is in the U.S.

[wayne0708]

Cobra: thanksgiving seasonality! long position initiating now?

[heavenskrow]

Guys we have a gap fill from the October rally.

[KENA]

Update

RUT http://99ercharts.blogspot.com/2011/11/ndx_23.html

Drooling Bear pattern at work.

Yes Nice chart

[TWT]

SPX : If wave (III) is in place then we need corrective bounce wave (IV) target 0.382 - 0.5 retr = 1175-1178

[Me XMan]

Interesting...DAX is not dropping like a rock like before...

DAX, CAC, and Euro STOXX 50 HAVE NOT made new lows since the NY open.

Where new lows have been made, it's a grind; unlike the bottom falling out like it is in the U.S.

[rhight]

Good morning all,

I usually post on weekends because I'm more of a swing / intermediate trader, but this is a Holiday weekend so I'll post this early to give some context to the current move. That is, if you can put the unprecedented events in Europe in context. The first chart shows the SPX Daily pivots that have been entered into a spread sheet to derive both time and price projection targets. This uses a Detrended Price Oscillator to determine thresholds for determining pivots, and the thresholds are empirical, not rigorously derived. I'm not sure if this is accepted practice.

The second chart shows the current time & price box (blue) for a possible intermediate bullish reversal. The last bearish reversal box is shown (red). As you can see, price occurred early in the red box, and exceeded it (more than the average plus 1 standard deviation). Therefore, these boxes can't be considered as definitive, but only a context for price movement.

We could be in a crash scenario, similar to what happened in August. As Todd Harrison at Minyanville is fond of saying, technicals can stop working in a crash. During the August crash, price did not cross the 60 min 20 MA for 11 days. The past doesn't necessarily repeat, but we are currently on day 5 without a 60 min 20MA cross.

[HighRev]

Dave Halsey from eminiaddict has a very big target on the Euro at 1.3331. I'd be expecting a sizeable bounce once/when/if it's hit.

[Me XMan]

You know market gonna bounce like a mad man and then drop like a rock...

Alternate stills waits for 26-27 rebound to happen, which should be in this area (the support) with target 15-19 peaks range.

[BullBear52x]

Guys we have a gap fill from the October rally.

Nice I was looking at 116.5, that's where my lower line in the sand lay out.

[HighRev]

Nasty selling pressure from Fat Finger-san out of Japan.

Edit: That's a mistake. It's actually the contrary.

[Cobra]

Cobra: thanksgiving seasonality! long position initiating now?

No. today suppose to be the strongest day.

[Dow Trader]

5-min chart ES : warning for bears , double bottom !!! ?

[Me XMan]

First hour hard selling like this you know there will be a bounce later.

Cobra: thanksgiving seasonality! long position initiating now?

No. today suppose to be the strongest day.

[HappyFriday]

Cobra: thanksgiving seasonality! long position initiating now?

No. today suppose to be the strongest day.

Master Cobra, is Santa Claus coming this year ?