01/11/2012 Intraday Watering

[uempel]

Update SPX:

[BullBear52x]

We are in the box here internals still favor bears, DBV stronger than most.here is my analog box.

[jarbo456]

don't like the rip in /CL and /HG for the bears' cause.

[Cobra]

triangle, so maybe a little more on the downside but that'd be the final down leg, so the big picture is not bad for bulls.

[stucap]

triangle, so maybe a little more on the downside but that'd be the final down leg, so the big picture is not bad for bulls.

are you saying that the triangle would break to the downside, or that they'll be one more attempt down and then triangle breaks to the upside and buh bye for the day?

[Mr. BachNut]

I am watching a small descending triangle take shape in TLT. While equities and $ have climbed, long bond has not suffered a corresponding drop and has held support. Assuming the $ doesn't reverse, this triangle should complete with a break of support and give the equity bulls some fuel for the upside. If the pattern fails, bears may have some hope but no guarantee.

May also be a TBT play to be had if support broken. Watch the auction results today and tomorrow.

[stockcycle]

Looks like SPY is in the forming of a descending broadening wedge that favors the break upward.

[Cobra]

triangle, so maybe a little more on the downside but that'd be the final down leg, so the big picture is not bad for bulls.

are you saying that the triangle would break to the downside, or that they'll be one more attempt down and then triangle breaks to the upside and buh bye for the day?

triangle usually means continuation, so chances are it'd breakout on the downside.

but triangle also means the final stage of the current trend.

so that's why I said, a downside breakout maybe, but it's the final stage, bulls should be OK.

[SB73]

triangle, so maybe a little more on the downside but that'd be the final down leg, so the big picture is not bad for bulls.

3 push down is that why that it is it?

[stucap]

triangle, so maybe a little more on the downside but that'd be the final down leg, so the big picture is not bad for bulls.

are you saying that the triangle would break to the downside, or that they'll be one more attempt down and then triangle breaks to the upside and buh bye for the day?

triangle usually means continuation, so chances are it'd breakout on the downside.

but triangle also means the final stage of the current trend.

so that's why I said, a downside breakout maybe, but it's the final stage, bulls should be OK.

thanks for clarifying!

[HappyFriday]

S&P has tried many times today to pass 1290 and still under 1290. IMO, bull is losing power from here.

[Me XMan]

This Friday we will know for sure...QE3 or not QE3.

S&P has tried many times today to pass 1290 and still under 1290. IMO, bull is losing power from here.

[lcgllc]

Cobra agree with downside break of triangle, where does the target measure ?

[tdo722]

Cobra agree with downside break of triangle, where does the target measure ?

$128.37 based on fibs.

[BullBear52x]

However you measure it, all roads lead to ROME, that is 128ish

[knock]

Cobra agree with downside break of triangle, where does the target measure ?

$128.37 based on fibs.

what start and end points do you use to generate fibs? thanks

[tdo722]

Cobra agree with downside break of triangle, where does the target measure ?

$128.37 based on fibs.

what start and end points do you use to generate fibs? thanks

I really want to give it out but right now it's a hit or miss so don't want to mislead you. I'll let you know when it is consistently gets it right.

[BullBear52x]

This is where the "cross roads" came to be, well, which ways the chicken will cross?

[Cobra]

hmm, looks like triangle breakout on the upside. the intraday action is not bearish anyway, RSP looks bullish.

[BullBear52x]

I am bored, for those of us who like flat lines.