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It was the low of 9/20 in AH, and hasn't been touched again until the past few minutes. 1528.50 is looking strong enough at the moment that I closed my short at 1529.00 and am on the sidelines until I get a sense of which way the market wants to go from here. Long is starting look...

I agree. 1528.50 is key support, and is presently LOD. If 1528.50 is penetrated with conviction (not just by a tick or two), then it becomes resistance and look out below. Otherwise, 1528.50 is a low-risk long entry and we'll have another opportunity to go short at higher levels.

Failed re-test of 1532.00 now makes 1527.00 target likely.

1-min chart measured move target is 1527.00, invalid if paint above 1532.00. 15-min chart measured move target is 1522.25, invalid if paint above 1534.25.

Measured move target is 1522.25. We'd need to fall off a cliff to get there by today's close. I hope we do, because I won't be able to trade tomorrow. I am presently short ES from 1533 with a breakeven stop.

You realize, of course, that we all could be right (in the long run). :)

Out at breakeven. It's not ready to go down yet. :(

I'm finally short from 1540.75 on a 15-minute confirmation bar. Hoping 1542.25 turns out to be HOD.

Just back from three weeks away from the markets, trying to sort things out. I see a confluence of resistance for ESZ in the 1536.75-1538.00 zone. Specifically:: 1. 50% retracement of the downmove from 1543.50 (9/21 @ 12:45 ET) to 1532.50 (9/23 @ 21:30 ET) is 1538.00. 2. 50% retracement...

Give it a few hours. :)

Well, when I'm wrong, I'm wrong. B1S1 was correct. The previous swing high (1465.50) has now been exceeded, negating the descending price channel and its succession of lower highs. This signals a change in direction from short to long. I'd still like to know what B1S2 was looking at when...

With respect, how can you look at a chart like the one I just posted (http://www.elitetrader.com/vb/attachment.php?s=&postid=1599938) or the one that Spectre posted earlier and conclude that the trend is long? I'm truly curious about this. The chart clearly shows a multi-day declining price...

Not trading today...lurking from my hotel in Boston...chart offered without comment... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1599938 width=600> Clink on link below for full-size chart.

FYI, I finally heard from him today. Turns out his family is visiting, so he decided to take some time off from the markets. Sounded like he'll probably be back trading in a few weeks. I was very glad to hear from him, because I was getting concerned by his sudden absence. As previously...

Beautiful trade!

Wow, look how little volume it takes to move the market today! Everyone's gone. Last person trading, don't forget to turn out the light. :) I am leaving next week for a three-week business trip, so I won't be trading until I get back around September 20th. I'll try to check ES Journal from...

15-min chart showing action from 8/16 Fed discount rate cut to the present. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1588575 width=600> Click on link below for full-size chart.

FWIW, I'm with ya. Targets at 1490.75 and 1492.75.

Unabashedly so, and I take that as high praise. I miss him, too. I hope he's not gone permanently. So much more I wanted to learn from him.

Retracement now at 50%.