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02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:02 am
by Cobra
Gap up out of yesterday's range, so chances are that the gap won't get filled and if new high after 10:00am ET, chances are even better for a strong uptrend day. That said, any gap day can be a trend day either up or down depends on how opening goes, so let's see. Global ES looks good by the way, breakout above the recent range and consolidating above it which is bullish.
Institutions are still selling into the strength as far as I read.
Seasonality about the rest of the week.
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:10 am
by Cobra
Uempel pretty sure this is a top and he went short. He's busy today but want me to show this chart here.
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:12 am
by 99er
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:14 am
by wxtrader001
Yesterday's down isnot strong, finally a range day,i think bears lost its opportunity ,hope an up day today
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:15 am
by 99er
uempel--
Welcome on board!
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:19 am
by wave
Who is Uempel?
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:23 am
by chickencoop
wave wrote:Who is Uempel?
the old trader?
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:24 am
by Forevergreen
chickencoop wrote:wave wrote:Who is Uempel?
the old trader?
I think so... the chart looks like his style...
then we should take his words seriously....
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:30 am
by black
currency, gold, jump up & down, today will be a fun day.
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:32 am
by Cobra
Opening. Now the previous high is the resistance.
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:32 am
by maldini
Cobra wrote:Uempel pretty sure this is a top and he went short. He's busy today but want me to show this chart here.
this fork is HUUUUUGGEE
//GOOD morning
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:34 am
by alf
I think it may turn out a range day. I think no big move until OE day.
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:38 am
by black
i don't think this is top, at least i definitely will not short here.
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:42 am
by black
5 min chart, 1st bar is strong, 2nd not good follow up, 3rd one is important, let's see
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:42 am
by q2model
black wrote:i don't think this is top, at least i definitely will not short here.
What is your reason?
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:45 am
by Cobra
I'd pay attention to global range, if the range low held (i.e. today's 5 min open range low held), this is still pretty much bullish, why everybody keep yelling this is a top?
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:47 am
by black
q2model wrote:black wrote:i don't think this is top, at least i definitely will not short here.
What is your reason?
i just don't short big gap up, but it doesn't mean i won't short later today
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:56 am
by 99er
ES
Symmetry. It would be great for bears if we starting from here follow up with the right-hand side of multiple H&S formations developed on the way up.
http://99ercharts.blogspot.com/2011/02/es_2809.html
We'll see.
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:57 am
by wxtrader001
black wrote:q2model wrote:black wrote:i don't think this is top, at least i definitely will not short here.
What is your reason?
i just don't short big gap up, but it doesn't mean i won't short later today
Support Mr Black !! good comment !
Re: 02/16/2011 Intraday Watering
Posted: Wed Feb 16, 2011 10:58 am
by Cobra
black wrote:q2model wrote:black wrote:i don't think this is top, at least i definitely will not short here.
What is your reason?
i just don't short big gap up, but it doesn't mean i won't short later today
If I read correctly, this pretty much should be long here. Isn't this double bottom reversal or what you Martian calls?