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there was a nice decline in the VIX during the most recent ascent of ES prices. This is the Thursday before expiration, maybe everyone's been wiped , but a move in the VIX below 32.77 should coincide with a rocket shot higher.IMHO

yeah, it does look like a double bottom

Is anyone out there? I can't help it, but I need to see a more painful shakeout than we've seen. Am I wrong?

besides price projections for potential support at 1378,1377 and 1374.75 (based on various fib projections of recent intraday, multi-day ranges). standard S2 is 1385.25 (and, as is usually the case, .618 extension to downside is virtually the same as S2 at 1385.00, these levels are right in...

I don't know what your definition of "value" is, spectre2007, but I have price projections for potential support at 1378,1377 and 1374.75. I haven't run my overnight spreadsheet yet, FWIW, I'm going to run it now and see if I can make any sense of it. will report back later.

measured moves question (for tommymoose) I might be overlooking something, but where did you get a 1455 close for low bar? I see Close of Low Bar at 1443 (close of 8/3/07) calc would change to 1560-1443 = 117 Close of swing H 1505 – 117 = 1388 Am I missing something? :confused:

looking for prints 1409.25

cnbc now reporting that the reason the repo was cancelled was technical problems, Fed plans to try again.

2 minutes ago CNBC has just reported that the Fed announced that they have canceled the repo scheduled for today. Bullish... because it's (the repo) is not needed?

maybe that's his profit target, and wouldn't it be 98.5 not 102. Everybody better get a second cup of coffee :p

Down Tuesday Option expiration week. I will be looking for additional downside RTH tomorrow. Target 1409.25 for reversal. Have to see intraday technicals then. Obviously, price data between now and tomorrow might change things, but down Tuesday of option expiration easily leads to...

oops, guess it already happened. 1450 tested without a retest of the intraday swing low. I'll shut-up now. Good trading to all.

A retest of the most recent intraday swing low (1437.25-1436 area) might spark a half-hearted recovery to 1450 (intraday). The pattern of a low and a retest would be similar to chart pattern poster earlier from June Tues of Option Expiration week. It would be a Wyckoff spring possibility.

tomahawk, I think it depends on the time length of the bars you are looking at. I think apex82 was referring to a 15 minute bar. Is that correct apex?

apex82, could you take just a moment to describe what you want to see as a "reversal bar?"

News that moves? Just reported 3 minutes ago, CNBC reporting that some sort of a commodity related money market fund (overnight funds) has asked CFTC to allow them to halt redemptions.

June 2007 OpEx Tuesday also had pronounced weakness in the morning. It bottomed, retested (with slight undercut) at 11:10 and then made a move up.

Reminder, This is option expiration week and when prices move in one direction, the premium pump creates profits. Puts are winning right now. When open positions in puts (equity options) are closed, reverse price movement can easily unfold as put option sellers often hedge themselves (fully or...

It's all right here on the chart, as volent-00 noted, 50% retracement of recent rise is 1452, overnight low 1451.50, 8/10 (Last Friday) sideways congestion 1455-1444. If the market is going to head higher, this is the place it should attract buyers, have to wait to see. mbusch, what length bar...

YM, ES, NQ all swung to new intraday highs near 11:30, But what's with the ER2? it's ugly. Anyone have any idea what's weighing on the ER2?