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Stock Market Intraday Chat: Apr 30th - May 4th - Page 6

post #101 of 411
5/1/12 at 1:26pm
Quote:
Originally Posted by Jamesw View Post

There was a major parameter shift that led to a lack of supply on the initial big 1 hr candle I dont know what it was though. Don't say ISM report please.

I read something by Mr Topstep, I think a string of several tweets... he said that an order filler in the pit got stuck with a bunch of buy stops being filled going into and coming out of the ISM number, then all those buy stops being filled triggered bigger buy programs. That was his analysis of the event. There is no doubt the ISM coming in better than had some effect, of course. But Mr Topstep reminds everyone frequently "the pit boss's #1 rule is no stop goes untouched" and this seems to be a glorious example of stops being cleaned out down to the morning low then right up through the 1390s and probably through the figure too. Took less than two hours to go from flirting with testing S1 in the 1380s to over R2 above 1408.
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post #102 of 411
5/1/12 at 1:37pm
Both GOOG and AAPL are retesting their intraday support levels currently. Expect the close price to be +/- 1% from AAPL's $590 support and GOOG's $608 support.
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post #103 of 411
5/1/12 at 1:41pm

Anyone think this will go to ~1420 before heading back down? Seems like a triple top to me

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post #104 of 411
5/1/12 at 1:41pm

NQ is the clear laggard here, with the high tech fliers clearly underperforming here.  Materials and financials strong since the morning ISM #s but I'm leaning towards a re-test around 1404.25 ES support before re-testing highs unless the NQ participates here on the intra-day.

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post #105 of 411
5/1/12 at 1:44pm

 

Quote:
Originally Posted by Marcus092 View Post

Anyone think this will go to ~1420 before heading back down? Seems like a triple top to me

 

sort of.   but if everyone thinks that, maybe they'll play it safe and get out ahead of the pack, bringing it down now.   or maybe we'll go straight to 1500.

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post #106 of 411
5/1/12 at 1:56pm

I was expecting to see the EUR whip back to higher levels here, but so far its just getting closer to 1.32ish... no complaints from me :)

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post #107 of 411
5/1/12 at 1:57pm

 

Originally Posted by buy4highselllow View Post
Would welcome any info on this.. anyone care to post any links so I can read up please. (I am already cynical - being more so can't do any harm)

Looks like the predictions of testing highs early to midweek are coming good...  not sure where we would be if todays figures where bad though.

Thanks in advance for any info on BOT manipulation should it be posted to help me/others here. 

 

I don't know of any books. Just experience/lots of screen time. 

It's only manipulation when your're not playing the game. 

Otherwise, it's just part of the game. Play or be played. 

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post #108 of 411
5/1/12 at 2:04pm
Quote:
Originally Posted by Marcus092 View Post

Anyone think this will go to ~1420 before heading back down? Seems like a triple top to me

Triple tops are pretty rare, usually you don't get there or blow through it. Numbers to be released rest of week may dictate the action, as may European markets reacting to the US today, do they follow or not, would not surprise me if they don't follow us. So if that, then do we revert to following them? Today could just be its own little island in time, with most of Europe closed, volumes low, and such an ethereal move up in stocks. If it is to continue, digestion of this move should be in order, choppiness in 1395-1415 range through/into Friday's employment news.

I still like those fib extensions around 1440 and 1460, Eric the "Market Anthropology" blogger has also pointed out that 1460 would be a kiss of the 'market meridian' which if you don't know what it is, might be worth reading about. Google Mkt anthropologist if interested, shouldn't be hard to find his meridian write-ups.
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post #109 of 411
5/1/12 at 2:05pm

AAPL going for the lod

 

I guess the $600 level did not bring much excitement with it!

 

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post #110 of 411
5/1/12 at 2:14pm

 

Originally Posted by Marcus092 View Post
Anyone think this will go to ~1420 before heading back down? Seems like a triple top to me

 

My rule right now is do not short with price above 1404 (buyers auction for May)

Below and I may welcome a fade if my intaday chart lines up. 

My next level is 1424, 5 points above HOY. 

 

Price is currently at the days POC at 1408

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post #111 of 411
5/1/12 at 2:19pm

 

Quote:
Originally Posted by rando View Post


Triple tops are pretty rare, usually you don't get there or blow through it. Numbers to be released rest of week may dictate the action, as may European markets reacting to the US today, do they follow or not, would not surprise me if they don't follow us. So if that, then do we revert to following them? Today could just be its own little island in time, with most of Europe closed, volumes low, and such an ethereal move up in stocks. If it is to continue, digestion of this move should be in order, choppiness in 1395-1415 range through/into Friday's employment news.
I still like those fib extensions around 1440 and 1460, Eric the "Market Anthropology" blogger has also pointed out that 1460 would be a kiss of the 'market meridian' which if you don't know what it is, might be worth reading about. Google Mkt anthropologist if interested, shouldn't be hard to find his meridian write-ups.

 

 That would be so sweet !!! and yes it could happen suspicious.gif

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post #112 of 411
5/1/12 at 2:23pm

$AAPL just went red..Nate hide all the sharp objects..

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post #113 of 411
5/1/12 at 2:31pm
Quote:
Originally Posted by IchibomB View Post



My rule right now is do not short with price above 1404 (buyers auction for May)
Below and I may welcome a fade if my intaday chart lines up. 
My next level is 1424, 5 points above HOY. 

Price is currently at the days POC at 1408

I like this 1406.50-1408 level for possible support today.... first hour high up to R2. Holding that band will be a big accomplishment, especially with AAPL weakness triggering NQ to trade 1/2 % below their first hour high, and TF below IB high well. Old men Dow and S&P holding up well... must be getting glucosamine injections in the knees. Anyway, holding that level should help trigger digestion in the next two days, barring any big market moving news which is admittedly quite possible this week in particular.
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post #114 of 411
5/1/12 at 2:32pm
Oil services are kicking some ass today.

SLB HAL and BHI are on my watch list and all are up 2% or more. This is on top of the 2% gains from yesterday, too. Just got a trade confirmation. Sold SLB at $76.04. Bought at $70 about 3 weeks ago.
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post #115 of 411
5/1/12 at 2:36pm

aapl looking strong after that test

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post #116 of 411
5/1/12 at 2:38pm
Quote:
Originally Posted by IchibomB View Post

aapl looking strong after that test

I agree. I am surprised that it rose to $597 and stayed at $594 for so long before retesting these levels again. Eh, at least it's rising.
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post #117 of 411
5/1/12 at 2:39pm

Yeah, quite the rotation today although I would welcome a test of 72 before moving up again. 

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post #118 of 411
5/1/12 at 2:49pm

 

Quote:
Originally Posted by Marcus092 View Post

Anyone think this will go to ~1420 before heading back down? Seems like a triple top to me

 

I do. If its a triple top, dont know. Patterns (normally) work fine, after activation. Till than are just possibilities.

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post #119 of 411
5/1/12 at 3:05pm

/ES - Intraday under 08 I have:

403

398 (past POC)

396

395

393 (past POC)

391

388

 

aka quite a few layers of support lined up. 

 

Daily
424 (top of rotation - April - buyers auction above))

404 (top of rotation - May - buyers auction above)

393 (POC)

386 (past buyers auction - March)

372 (POC)

357 (bottom of rotation - May - sellers auction below)

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post #120 of 411
5/1/12 at 3:06pm

Currencies fading the morning move, USD losing some ground here

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