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Not Vol here, but ES declined 10 pts between 0400 EDT and 0800 EDT. Rule-of-10 suggests that after a monotonic 10-point move, the ES usually retraces.

At 0800 EDT, ES formed a very nice selling tail when it touched 1521.75 (one tick above Apex's resistance zone of 1519.50-1521.50). 15-min RSI was oversold. 15-min MACD turned postive the next bar, which was a strong confirmation bar on the 15-minute chart. L 1523.25 PS 1521.25 (2 pts) PT...

Trailing stop hit, out of trade at 1544.50 for +1.75 Price action seems weak and undecided. Trading range between support at 1542 and resistance at 1550. I have to go out, so done for the day.

PS raised to break-even

L 1542.75 PS 1541.25 (1.5 pts) PT1 1548.50 (5.75 pts)

Nice call, JJ!!! Now, is it safe to get back in the water yet? :)

Yeah, and Lee Harvey Oswald acted alone. :D

Boy oh boy, that's pretty cryptic. Spec, care to elaborate? (FWIW, I'm short ES. Did I do good?)

Now I ask you...does this sound like someone who's on vacation? :D Turn off the computer. Hit the beach. Don't forget the sunscreen. :cool: Don't worry...we won't let the market do anything interesting until you get back. Promise.

Sure enough, NQ long stopped out at break-even, too. Presently flat.

On what timeframe are you seeing this? I'm looking at everything from daily to 15m and not seeing anything that looks like a right shoulder, at least not yet. Pictures, we need pictures!:)

Nice call. Unfortunately, I was working out on the treadmill when this happened. Just returned to find my ES long stopped out at break-even. NQ will probably follow suit by the time I hit the submit button. Gotta go out for a few hours, so given this situation, I'm probably done for the...

Which is why it would be so much fun if they did!:) A short-term contrarian position on bonds here is an interesting thing to consider.

Ah, all is now clear. Didn't realize you did bull flags. All I've ever seen you talk about before is bear flags. Glad to know that you're an equal opportunity flagger.:) Although I suspect bear flags are more reliable, since downside moves tend to be more sudden and decisive. Speaking of bull...

Underwhelmed with the bullish price action on my ES and NQ longs. Moved my ES stop to break-even, and my NQ stop to -1 point (20 bucks). I'll stay in these longs on a zero-risk basis, but I'm losing confidence that we'll see a stampede to the upside today. I'm going out for a half-hour walk and...

I'm not seeing the Hikkake. The 11:45 bar is not strictly speaking an "inside bar" because its high is the same as the high of the previous bar. The 10:45 bar is an inside bar, but the following bar is an outside bar, which violates the Hikkake pattern if I understand it correctly. Which bars...

NYSE advance/decline ratio and advance/decline volume ratio are both dead neutral. Could go either way. Bonds (not yields) rising from morning lows with a nice-looking buying tail that suggest more upside to go. Equities have been correlating closely with bonds in recent days.

Indeed. I went long ES @ 1546.00, presently +2 on trade. I'm about to raise my protective stop to break-even. If we get above weak resistance about 1550.00, I will raise my stop again to 1549.00. If we get above strong resistance about 1553.50, I'll raise my stop again to 1552.00 and anticipate...

Spec, in your work, what chart timeframe(s) do you find work best for observing these buying and selling tails at the beginning of playable price moves (e.g., 5+ points on the ES)?

Now below 1550 zone. Still holding short positions, both initial 1553.50 and add-on 1550.00. Lowering buy stops to break-even on initial and 1pt on add-on. Headed out for lunch.