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WHen Spooz_Top uses :"S of TL", I think he means Support of the Trendline

storm121, what do you base your expectations for prints 1567 on?

Just the facts: S2 pivot point for today was 1546.50, LOD (so far) has been 1546.50. Rule of 10 was 1546.50 (Thank you Spooz_Top for mentioning it). Name of idiot who cancelled buy limit at 1547.00 (for 3 or 4 pt bounce): vertigo3 :confused:

saxon, what is the importnace of 1545 My look for 1547.00 was just a retest of the low, sometimes it gets taken out by one tick and then heads upfor 3 or 4 points. I had order in at 1547.00 (expecting a 1 tick undercut), did not get hit. now cancelled

If price retests 1547.00, or hits 1546.75 does anyone aout there think it would be a buying opportunity intraday?

Anek, please specify the type of chart you are using, (if time bars, length of bar, if volume based bars, # of contracts/bar) thx

excellent trade, mbusch

mbusch, thx for the analysis. Prior swing high you refer to was of 9/19/07 (high established day after FOMC rocketshot higher), correct?

wouldn't it be perfectly natural for price to retrace to test breakout point of 49.75 +/- 1 pt especially during the lunchtime (I know, sometimes lunchtimes following strong mornings can see another lift in prices 12:25-12:55), but some sort of consolidation (short-term intraday) would be a...

who's the moron who mentioned the rule of 10? -oh, me. Had order in to buy at 32.75, never touched.

anyone considering rule of 10, would be 32.75 from last swing high, (it worked this morning)

I'm subscribing. But today, I can't stay at the computer I have errands to run. Right now I think we're breaking a bear flag (intraday) prices have to move to 1532-1529.75 but recovery after that is possible (9 point recovery)

If indexarb is using fed funds as interest rate component in fair value then it has to be. Doesn't it? Or am I thinking too simply? :(

I have absolutely no idea what's going on (intraday). Does anyone consider this to be a dull intraday market? I heard a quote once about dull markets and selling short.

definitely, satchel:D

testing to see if forum is really working

just one point of clarification: at timestamp 10:01am apex posted "looks like they are going to hold it..." meaning supports would hold. ES handle was 1520 at the time and prices were rising from the 1518.75 low. WHen I read that line I assumed he had abandoned short-side expectations.

thanks, without any ability to push prices above 1528, and no signs (so far) of buyers bullying their way into the market, I still can't rule out prints 1519-1516. That, and a million dollars would make me a millionaire. Good trading to all.

You were correct, saxon. So, now we have printed it, do you think that short term bounce unfolds? Sellers still seem in control right now. 1523.83 is weekly pivot point 1523.75 is 50% retracement of the low just before the FOMC announcement to the high registered the next day. (60min bar)

good luck to all. prints 1519-1516 for a short-term bottom cannot be ruled out by my measures. while overnight's in the past few days have found buyers at previous day's lows. That is not the case so far today. 50% retracement of low before FOMC surprise to high the next day is 1525.00...