04/14/2011 Intraday Watering

BullBear52x · Post by **BullBear52x** » Thu Apr 14, 2011 11:06 am

indecision point.

simpletrader · Post by **simpletrader** » Thu Apr 14, 2011 11:07 am

Cobra wrote:MA as resistance.

3rd time charming?

Post by **Cobra** » Thu Apr 14, 2011 11:11 am

simpletrader wrote:
Cobra wrote:MA as resistance.
3rd time charming?

Well, this is how I read the chart: you see weaker and weaker break through the EMA, then boom? Now, are we going to repeat AGAIN? I think chances are good.

uempel · Post by **uempel** » Thu Apr 14, 2011 11:12 am

FJoe wrote:I understand Vix is a sentiment measure in reality, but why has it moved so little with a drop of 35 S&P points, when every other decline of this amount since 2009 has seen the Vix pop a lot more to the upside.

Is it becoming somewhat meaningless, or is it saying this decline is over. It sure looks like a double top on the S&P, so we should go down quite a bit more to me...but I had to buy this today at 1300 on the ES (S&P minis) with a stop at 1296 for a swing trade.

That said, if we are up too much today from the open, I don't see it going much higher...so I am confused.

TA somewhat skewed today and tomorrow due to options expiry Friday.

cletus · Post by **cletus** » Thu Apr 14, 2011 11:12 am

I have put leaps on GS. Wasn't someone bullish on them here recently? The chart looks bearish long-term to me. Continues to make lower and lower highs.

99er · Post by **99er** » Thu Apr 14, 2011 11:13 am

EURUSD
Update: http://99ercharts.blogspot.com/2011/04/eurusd_14.html
Not looking good for equities.

Post by **Cobra** » Thu Apr 14, 2011 11:14 am

Uempel or whoever knows, could you tell me if the red arrow points correctly to the heavy resistance area? Can I read the Fib fan lines like this? Thanks.

BullBear52x · Post by **BullBear52x** » Thu Apr 14, 2011 11:15 am

Today many experienced TA guru just call a confirmation of down trend. the reckless one like myself a relaxation point is about to confirm

Post by **Cobra** » Thu Apr 14, 2011 11:19 am

volume surge, so I see a rebound from here.

99er · Post by **99er** » Thu Apr 14, 2011 11:21 am

Copper
Bearish still.
http://99ercharts.blogspot.com/2011/04/copper_14.html

Post by **Cobra** » Thu Apr 14, 2011 11:25 am

if you think we're bottomed today, well, take a look at the visit to my web site. as long as people are indifferent about my report, there's no bottom.

99er · Post by **99er** » Thu Apr 14, 2011 11:25 am

Crude
Bear Flag?
http://99ercharts.blogspot.com/2011/04/crude_14.html
Target would be the length of the "flag pole" down.

Post by **Cobra** » Thu Apr 14, 2011 11:26 am

bears only hope for today is a much weaker push up from here.

BullBear52x · Post by **BullBear52x** » Thu Apr 14, 2011 11:27 am

Cobra wrote:Uempel or whoever knows, could you tell me if the red arrow points correctly to the heavy resistance area? Can I read the Fib fan lines like this? Thanks.

Cobra, I don't know if there is right way or wrong way. the way I use Fib Fan, Fib retracement, or Fib extension I got my own refference point, it's very unconventional but simple. for today I will go with what you got. tomorrow I will move the down trend fan to low of day of today.

Post by **Cobra** » Thu Apr 14, 2011 11:30 am

BullBear52x wrote:
Cobra wrote:Uempel or whoever knows, could you tell me if the red arrow points correctly to the heavy resistance area? Can I read the Fib fan lines like this? Thanks.
Cobra, I don't know if there is right way or wrong way. the way I use Fib Fan, Fib retracement, or Fib extension I got my own refference point, it's very unconventional but simple. for today I will go with what you got. tomorrow I will move the down trend fan to low of day of today.

got you, thanks.

soku · Post by **soku** » Thu Apr 14, 2011 11:34 am

Cobra wrote:bears only hope for today is a much weaker push up from here.

so u think it is a flag and will break out? i am not so confident. and not sure about the up target. maybe it cannot even take the previous high.
i am waiting to short the pop.

Post by **Cobra** » Thu Apr 14, 2011 11:36 am

yoku wrote:
Cobra wrote:bears only hope for today is a much weaker push up from here.
so u think it is a flag and will break out? i am not so confident. and not sure about the up target. maybe it cannot even take the previous high.
i am waiting to short the pop.

I'm thinking the usual 3 push up pattern.

99er · Post by **99er** » Thu Apr 14, 2011 11:37 am

Gold
Wolfe Wave target of 1403.
http://99ercharts.blogspot.com/2011/04/gold_14.html
A correction is due.

BullBear52x · Post by **BullBear52x** » Thu Apr 14, 2011 11:37 am

The bottom I preferred to see will look like last Tueday one, it failed later but that's the ideal one for me. not today a ah..no way.

FJoe · Post by **FJoe** » Thu Apr 14, 2011 11:44 am

Very odd looking on a 15 min. chart. We have had only 1 up bar today (from the open of each bar)...from 10:15 to 10:30 on the ES. Plus the Nasdaq not doing so well today. Doesn't look like a rebound today...bailed on my swing trade...so I am sure it will go up now. Try again tomorrow.

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04/14/2011 Intraday Watering

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