10/03/2011 Intraday Watering

[Cobra]

First of all, there's a new poll in the poll area, let's encourage Jason by voting there: viewtopic.php?f=9&t=317, who has the gut to be the first one opening a new poll.

Gap down below Friday's range but small plus most gap after a Major Distribution Day get filled and the day tends to be a small range day, so I'm not sure whether the gap will be filled or not.

The Global ES doesn't look good, I see clearly a Bear Flag and now it appears to rollover, so my guess is at least the overnight low will get revisited and more likely be broken.

[johnnywa]

Is Europe a reaction to US Friday or do we follow Europe with a 1.5-2.5% down

[cougar]

Good morning!

[cougar]

Although considered the strongest of all US indices, $NDX already broke down and is headed for the 1870 zone, where it has some support.

$NDX monthly:

[rpccharts]

ES day session range estimate is 1100-1128. ES is headed below its August low at 1071.

[99er]

Good Morning.

Say honey...have you booked our flight?
EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_03.html

You betcha.

[cougar]

$NDX internals : by my criteria, in a confirmed downtrend for the first time in 2 months.

[99er]

Oh good.
ES http://99ercharts.blogspot.com/2011/10/es_03.html

Can we wear shorts?

[jason_70]

Thanks Cobra. I will have to see if i have enough supplies of "what i smoke" because i have a feeling that option will be the most popular one.

First of all, there's a new poll in the poll area, let's encourage Jason by voting there: viewtopic.php?f=9&t=317, who has the gut to be the first one opening a new poll.

Gap down below Friday's range but small plus most gap after a Major Distribution Day get filled and the day tends to be a small range day, so I'm not sure whether the gap will be filled or not.

The Global ES doesn't look good, I see clearly a Bear Flag and now it appears to rollover, so my guess is at least the overnight low will get revisited and more likely be broken.

BTW, CL broke down. There is no way markets can go higher without CL. Correlation has been too strong between the two IMHO.

Thots anyone?

[cougar]

QQQ daily with nested envelopes:

[Al_Dente]

Morning all:
The Bernank “maturity extension” program is showing up in the 2 yr treasury charts ….. Ben is selling off the 2s and buying the longer term treasuries, which are rising, as we all know.
This chart is note and bond PRICE not yield:
http://stockcharts.com/h-sc/ui?s=$SPX&p ... =245064294
New pomo schedule (link courtesy Michelle) shows very busy FED October.
http://www.newyorkfed.org/markets/tot_o ... edule.html

[Richarab]

oh yeah. its morning for some - late afternoon for others in the Far East

[99er]

What does Dr. Copper say?
HG http://99ercharts.blogspot.com/2011/10/copper_03.html

What...about shorts?

[silicon_beaver]

Good Morning Cobra and everyone.

[davros]

my rsi method on ES suggests - UP

[Mongoose]

Copper US continuous hit a double bottom @ 300 earlier today.
Eurozone PMI at 25 month low - new orders fell at the steepest pace since June 2009.

http://www.msnbc.msn.com/id/44748691/ns ... om4N3P2JT5

[Richarab]

my rsi method on ES suggests - UP

later this morning maybe

[BullBear52x]

GM,
ES is buyable above 1126.78 right now sell on.

[KENA]

GM Cobra..That was a great write up this weekend.Maybe you could keep us updated thru the day in what direction the mkt is taking in relation to your report .T hanks

[Richarab]

GM,
ES is buyable above 1126.78 right now sell on.

agree.