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a pattern that used to show up regularly from 2001-2006 (on FOMC announcement days) was an initial reaction (today down), then a counter trend move (we are seeing that now), then ultimately a leg in the direction of the initial reaction. good trading to all, I'm done for the day

Have to remark, only because it is something I monitor. The recent move to new highs in the NQ and the ES (at roughly 1357 (1:57pm ET) was NOT accompanied by an ER2 new intraday high. This is usually a sign of a failure for higher prices. Trip histo diverge in ES 5,3,2,1 makes it look...

1314.00 was the Globex 24 hour high before the market's starting selling off SUnday night.

thanks for the words of wisdom Mandelbrotset. I appreciate it and will set up same.

I don't think prices can move higher unless money stops moving into the bonds. I'm watching the $TNX.x (10-yr yield) and as long as yield is falling, money is not supporting equities. FWIW: Floor trader pivots based on AH using reaction swing high of 1279.00 for H has an S1 of 1247.25, I...

Spectre wrote: "for this macro cycle, remember time is the enemy of this market, as long as full disclosure is not made, about all the structural problems, intermittent land mines and disclosures will pull the market down, it could be a long drawnout process, if only the banks, and investment...

livermore made 4 fortunes unfortunately, he lost 5 fortunes

tommymoose, can you show your wave count, or at least give a little description (length of bar, and end prices for waves?

Pholeuon. volume as the current contract approaches expiration, there will be less willing traders of it. I have a friend who continues to trade the current expiration until the end of day volume is bigger in the next contract, then he switches.

I am certainly not a defender of S&P. I only made mention of the cnbc announcement because it coincided with that lift in market prices.

that lift to 1301 coincided with cnbc announcement that S&P thinks subprime write-offs for large institutions are getting close to the end.

hey, volente, Rule of 10, again. low 1282.00 recent print 1292, 1293, 1294 like rabbits in the spring.

mbusch, volume concerns? bifurcated battle lines? with today being the roll forward for active month (from Mar to Jun), volumes may be split between those contracts as some players prefer to stay with current contract until Friday or Monday.

Here's one from the FWIW file even though i have posted this comment before, I must post again. This is a game of probabilities not certainties. Here is the situation: today RTH opened Below S2 (RTH Floor Trader Pivots). This shifts the odds to favor no true recovery for the day. usually...

Tommymoose don't know whether you're here right now or at class, but could you (after you're finished counting all your short-side profits) post a chart of the wave count you referred to a day ago? thanks

I don't know how to get the following quote to show-up inside of hyphens. today, gwac wrote: " There is a big difference in pivot points depending on whether you use globex or rth for yesterday. Any help here on what is better to look at normally. tia " For me (and believe me I...

Spectre do you care to offer just a little bit of commentary as to why you think price has to break lower (I am assuming in the short-term, like sometime in the next 2 weeks) is it just your view of the chart. I think price has to go a little higher 1340 before anything more than a retest...

volente, how could you have so much confidence that 1303 (or technically 1302.50) was not going to be breeched? your PM e-mail box might be full, but mine sure isn't, so you can pm me the secrets to successful trading ;)

RE bearish wedge from yesterday and reco to shift to shorter timeframe of course you are correct, JSSPMK. thanks for the reminder. and ya know what? you've told me that before. Just keep hittin' me in the head with the sledge-hammer and something will seep in...eventually :D

saliva, thanks for the meticulous description of your quantatative view of price action in the markets. your answer about the water makes your methode de market perfectly obvious.:confused: don't worry, your secret's safe with you. I also use water with repsect to my market position ebb...