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If this is a double bottom, I'm a hero. If this is the left shoulder of an inverted H&S, I'm a bum. :D

Excuse me? Did you mean 1553.50? :confused:

Long from 1553.00. Close stop.

Good answer. Next question: Would you expect such a pullback (say to 1500) to occur sooner or later?

Between now and then, how much of a pullback would it take to surprise you (or to put you flat or short)?

No short signal, and I'm not short...just flat. I'm flat for two reasons: (1) I have the visceral feeling we're getting ahead of ourselves here, and (2) I'm hungry and I need to take a break. I'm not sure which of these has priority, but #2 is rapidly starting to eclipse #1. :) While I...

I'm out at 1557.50 for an additional +3.75. Total gain on this long run from 1549.00 is +8.50. I think I'm going to take a break and have a delayed breakfast. Not sure I'll be trading any more today. I'm happy. :)

Can't believe I'm doing this, but I'm long again from 1553.75, exactly where I exited my previous long. I was really looking for a pullback to re-enter lower, but my rules are telling me to get long and so I am. :confused:

Here's an updated look at my "big picture" chart, showing us in the fifth wave up of a fifth wave up with a possible measured-move target of 1585. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1625388 width=600> Click on link below for full-size chart.

That would be a small pullback indeed. a 38.2% pullback would be to 1547.75, and the usual near-50% pullback would be a retest of the 1544-45 area. Although 1452 was the previous swing high, it turned out to be very weak resistance and we surpassed it like a hot knife though butter...

I am out of my long at 1553.75 for +4.75. I may regret this, but just can't imagine going much further without a retracement and an opportunity to re-enter lower. (Watch it go to the moon.)

CNBC: Pimco's Gross: Rates Could Fall to 3-3/4% In Next Year -- Bill Gross said that the subprime mortgage crisis will dominate Federal Reserve policy "over the next several years" and believes short-term U.S. interest rates could fall to 3-3/4 percent over the next six to 12 months.

I remain long from 1549. Stop trailed to well above breakeven now. Hard to imagine getting much beyond 1557 without a retracement.

1548-1549 seems to be prior resistance now support. I'm long from 1549.00 with a close stop below 1548, looking for a possible breakout to test 1552. 1552 will be the acid test of whether we go substantially higher or whether we pull back a bunch. Per the chart I posted some days ago, if we...

Long scalp from 1534.00, sold at 1535.50 for +1.5. Probably my last trade of the day.

'Nother quick short from 1538.00, covered at 1536.25 for +1.75.

Short 1537. Covered 1539 for +2. Of course this time, it'll turn out I got out way too early and ES will head to the basement. :eek:

Stopped out at breakeven. Blew it. Had a 3-point profit and failed to take it. It's such a shame to squader a perfect entry like that. :mad:

Could'a fooled me!

I think 1552 would be nicer.