03/07/2011 Intraday Watering

[Cobra]

Update. Now trend line. Just don't buy this dip, not over yet.

[uempel]

On the daily it looks as though SPX fell out of the rhomboid...

[KENA]

If we can't break 1305 area it may be a good spot to go long on spy for a day or two.What do you think????

[99er]

SPX
Just about there, folks.
http://99ercharts.blogspot.com/2011/03/spx_3399.html

[zombiebraingoo]

dow is almost at lower channel - bounce or break at 12050ish

1303 is bounce or break number for spx -

looking weak but could be a nasty bear trap at these levels.

[Me XMan]

Long more SPY for dinner money.

[balance]

Like I said, even if it bounce (most likely between 1305 and 1300), we need to revisit the 1294.26 low. http://www.screencast.com/users/Balance ... d1b391caa1 is done friday, and it's still valid.

[uempel]

dow is almost at lower channel - bounce or break at 12050ish

1303 is bounce or break number for spx -

looking weak but could be a nasty bear trap at these levels.

On the log SPX broke support ages ago...

[balance]

To let you all get a sense of the power of wolfe wave, here is a 3 yr SPX chart.

Check out the target line! You'll have to see it to believe it!
http://www.screencast.com/users/Balance ... 45f90e5392

[Cobra]

Now previous support becomes resistance. Normally this rebound should fail.

[zombiebraingoo]

tigger bounce

[99er]

Crude
http://99ercharts.blogspot.com/2011/03/crude_07.html

[zombiebraingoo]

SPXsupportlog.png

dow is almost at lower channel - bounce or break at 12050ish

1303 is bounce or break number for spx -

looking weak but could be a nasty bear trap at these levels.

On the log SPX broke support ages ago...

perhaps - but looks to be a repeat of November on the linear chart - which is to say the linear chart worked just fine in November and should work fine now...

it's a good discussion of price versus percentage but I have yet to be convinced that log is a more accurate charting method - though I'm open to ideas on it...

[uempel]

SPXsupportlog.png

dow is almost at lower channel - bounce or break at 12050ish

1303 is bounce or break number for spx -

looking weak but could be a nasty bear trap at these levels.

On the log SPX broke support ages ago...

perhaps - but looks to be a repeat of November on the linear chart - which is to say the linear chart worked just fine in November and should work fine now...

it's a good discussion of price versus percentage but I have yet to be convinced that log is a more accurate charting method - though I'm open to ideas on it...

Both are valid.

[BullBear52x]

DIA still hanging on last Friday's line.

I am 50% shorts now.

[zombiebraingoo]

Is there a head and shoulder pattern breaking on BKX?

looks like if might measure to 48?

[uempel]

A few posts ago somebody wrote about going long to earn himself his lunch. I'm not sure if that is the right attitude. Suggest he go for a Porsche next time and look at the charts more carefully. That Porsche might soon be parked in front of his Garage if he notices that a) presumably the market dynamics have changed and NASDAQ is leading the way down and b) this SPX chart ain't bullish...

http://stockcharts.com/h-sc/ui?s=$SPX&p ... =208600353

[Fritz Baxter]

Is there a head and shoulder pattern breaking on BKX?

looks like if might measure to 48?

Do or die time on most of the financial indicators like XLF

[Me XMan]

Time to break out Ramen noodles today...

A few posts ago somebody wrote about going long to earn himself his lunch. I'm not sure if that is the right attitude. Suggest he go for a Porsche next time and look at the charts more carefully. That Porsche might soon be parked in front of his Garage if he notices that a) presumably the market dynamics have changed and NASDAQ is leading the way down and b) this SPX chart ain't bullish...

http://stockcharts.com/h-sc/ui?s=$SPX&p ... =208600353

[Cobra]

The pattern is not good for bulls, likely to breakdown.