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Is that a contrarian sell signal? :)

Since the low paint was 1552.00 and that was the exact september swing high, just imagine how many stops there are just BELOW 1552!

This is fascinating. The bulls put up one helluva fight to defend the 1552 level. The question is whether they've shot their wad doing it, or whether they can hold it again on the next retest. We've still got more than 90 minutes left for this to play out. Film at eleven.

Another test of the critical 1552 level here. This level is the bull's last stand on ES. EDIT: Wow, look at the size on the T&S window! They're using tactical nukes. EDIT: We traded nearly 16,000 contracts in one minute there.

My guess is that it doesn't get that high before it resumes going down. This looks to me like a typical bear flag. The volume pattern is quite striking -- consistently much lower volume on up-moves than on down-moves. EDIT: I just went short from 1555.50. Target is 1548.50 (7 points). If...

We are at a very critical zone here: 1. Just touching uptrendline that started at the 8/16 swing low. 2. Flirting with the 1552 level that was the swing high of 09/19 (so should now be a strong support level). If we break decisively below 1552, I see nothing but air down to 1520. In my...

I'll second that. Aside from considerations of simple good manners, even if 1586 turns out to be the top (and I think there's a good possibility it will), B1S2 knows better than most that the market usually gives you at least two good opportunities to exit. I would find it rather unlikely that...

Short from 1568.75 at 10:30 ET. Closed trade at 1560.25 at 11:15 ET for +8.5. I agree with Vertigo that it's time for a retracement, but I'm not comfortable going long today, so I'm going to take a breakfast break and see how things unfold from here. I've been holding SPY November puts for...

I was offline all day yesterday (traveling) and I'm unable to trade today (traveling again), but I did want to point out that over the past two weeks I have posted a succession of "big picture" charts on this thread showing a projected high of 1585.25 for this move up from the fed discount rate...

Very very nice, Mins! I'm jealous!

YM is making new lows for the day. EDIT: "Chrysler Workers Walk Out After Talks Pass Deadline"

Long from 1571.25, close stop. (Now wish I'd not bailed out of my long from 1568.50 earlier...would'a, could'a, should'a...) Resistance at 1572.50-1573.25. We'll have to break through that zone for the presumptive rally to go anywhere. EDIT: C'mon, where the heck are the buyers? :confused...

Note we could go down to 1540 or up to 1585 without any important trend change. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1636325 width=600> Click link below for full-size chart.

I haven't been trying to do wave analysis on such a microscale as that. I still see us in an extended 5th of a 5th up. I'll post a chart.

Long from 1568.50, close stop. I would have really liked to enter at 1566.50 (which is where my rising trendline is on the 15-min chart), but I didn't want to miss the train. However, another move down to 1566.50 wouldn't surprise me one bit. EDIT: No follow-through. Closed this long for...

Sorry for the delay... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1635491 width=600> Click link below for full-size chart.

Okay, out at 1575.75 for a quick +2. Done for the day. Now I'll get you that chart...

Sure, but give me a few minutes. Just entered last trade of the day, long from 1573.75.

We are now beyond my intermediate measured move target of 1574.50. My longer-term measured move target is 1585.25. I'm seing the beginnings of bearish divergence here, but not enough to go short yet. On the sidelines, frustrated to have missed the last 5 points of this upmove, but happy that I...

Out at 1570.75 for +7.50. Not sure this rally is over, but I do think it may be taking a pause here to regroup.