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We're very near a (short term) line in the sand, IMO of course. Here's an update of the same chart I posted a week or two ago...........no predictions, just some T/A. The gap served as a formidable resistance. Volume increased as price bounced off the gap and plowed through the key...

A few things to watch on the VIX index. We found support at the gap from the end of September - still has not been filled. Seems we'll need some spectacular event to fill the September gap - but we gotta fill yesterdays first. Steve

I tend to agree that we may well have topped for a while. Here's an up to date chart I posted last week........made it to the gap, then sold. IMO, I think a test of the 920 area as resistance can be expected. If that retest doesn't happen, it would only serve to show the market is...

My reply is still the same. There is no hard fast rule that works all the time, and <u>as a trader</u> you must always be aware of the trend, S/R levels and whatever other indicators you might use, you must then trade accordingly - all the while being prepared to be completely wrong...

Generally speaking - it often can depend a lot on the trend and where S/R is. In an uptrend, buy new lows, in a down trend, sell new highs. In an uptrend, expect resistances to fail, in a down trend, expect supports to fail. There are no hard fast rules. Steve

I know it's tough to do a search on his stuff, but here is one I found: http://www.youtube.com/watch?v=76Y8dxY1Q4E&feature=channel_page&fmt=18 He goes into more detail in some of his other videos, but I found this one to get ya jump started. If you have the opportunity to participate in...

First, realize that S/R levels occur at different levels depending on your trading time frame. For example, resistance on the daily may be $10.00, but on the 1 minute it could be $9.20. Generally speaking, the longer the time frame, the stronger the level. After that, to help avoid...

For me, it was major.........Not knocking anyone here, but I just made a quick $500 shorting ES, now closing my trading platform..........but watching to see if 919 <u>area</u> holds. A <u>confirmed</u> break below - or a bounce off that area - and I may just log back in and go for a few...

Yes, I agree with your thinking - -and I really could care less whether we zoom or tank because I trade, I no longer invest. What I've learned from Rob to do is watch for key levels on the charts and do my best to trade accordingly. I no longer could care less if we zoom to 15k or tank...

It's a technical thing, but I agree that before we zoom, we "must" retest the lows. If wrong - no big deal. But per T/A, there is no way to re-enter the bull without first re-testing/breaking the lows. Again, as a trader, if wrong, no big deal! Steve

More down seems only way too obvious to me as well - but when? Before we head lower, we need to have a <b>confirmed</b> break below 919.00 area - just IMTO of course. However, because the [short term] "Trend is your friend", expect resistance to get taken out. IMTO, a retest of 919...

Assuming that you're trading ES, chasing for trades is a bad habbit imo. Simply place your order a tick above or below. When price hits and you are a tick in the red, you can be confident that your order would have hit if you were trading with real money. Sim trading is to help get rid...

In a down trend, sell the gap up. In an uptrend, buy the gap down. Other than that, you're on your own. :eek: I agree with the OP, gaps are fascinating! Anyone ever heard of <b>Gap Strategy Trades</b>? Here's one I posted 5 or 6 months ago.......ya gotta pull up your own recent chart to...

I know little about Sykes, but what I know of him is that to me, he is little more than a loud mouth. I do not like loud mouths. Enough said about my opinion of him. I've watched nearly all of Brian's free vids on youtube for the last 5 or 6 months and can say that he seems to know a lot...

Vix moves inverse to the S&P, but not tick for tick. It moves inverse, though to varying degrees. Yesterday, there was a negative divergence (as the vix was tanking after open, [s&p] price was not moving up as it should have) - when the vix hit support of 44.50, it bounced and the market...

....till it ends. Today's move up to (support turned?) resistance was on declining volume as the day ended. For the last month, every time we've hit the downtrend resistance, we sold off. Thoughts? Steve

Yes. Use ES H9 now.

Hi Paul, Thanks! I use Qcharts http://www.qcharts.com/ There are other charting packages out there better than Qcharts I think, but for the $150/month - it already has more than I need. Steve

Susannah is right on. The ES are a leveraged trading vehicle, iow, it takes a whole lot less of your trading capital to make (or lose) a whole lot more. Maybe a side by side comparison of the 15 minute ES / SPY helps clear things up a bit. Steve

Don't ignore the chart, rather strive to consider the whole picture and trade accordingly, using the chart as a main ingredient of the whole picture. Take Friday's ramp job for instance - once again, the big move happened in the last hour............ 1) Because the last hour or so has had...