Er2 Market Calls & Commentary

supporting weekly chart:

Bullish hammer

Strong support on 50-week MA

Strong trendline support if you draw a line from august bottom to this point.
 

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well today was very nice...made more than I expected. But i'll be very careful tomorrow. Today was a nice bullish day. I think the market will continue up till 715,716 level , before resuming its descent on monday. I'll be back later with my analysis and more details. :)
 
lol the er2is broken and gone for the count. might run to 710-715 but this dog is done. one up day and people start calling for 740 like this is some sick game. yeah 4 weeks of damage jsut erased in days yeah right.look to short hard next week this bear market has just begun
 
I've been bearish on this and actually shorted 5 contracts at 778! Covered, then shorted, and repeat.

http://elitetrader.com/vb/showthread.php?s=&threadid=62996&perpage=6&highlight=er2 top&pagenumber=54

Now I'm definitely seeng some support and I love my candlestick hammers.

I don't just let one up day dictate how this market is going. From 778 to here, there were plenty of up days but this turn around is a pretty strong one. Along with huge bounces in Japan, Singapore, etc.. I'd say for now, we've seen the worst.

We could get back down by year's end but I see this going to 740.
 
Quote from joeyata1:

lol one lousy up day off a 4 week low 24 hrs ago and your crystal ball can see way out to 740?man you're one helluva a guru
More...

Man you need to chill out. I never said I'm a guru, I'm saying this could go to 740. So what if it doesn't? I'm merely expressing my opinion about where this could go like everyone else in elitetrader. No one's asking you to believe me.

geez, all you guys are so uptight these days.
 
Like I said last time... The Russell will go up to the 715 level during the overnight session and the first hour of the trading day tommorow. But Overall the direction is down. 715.30 happens to be the daily R1, so I would start planning a short trade around that level. It might go higher, but I don't think it will break the 200ma which is at 718.6. So for tommorow be patient and take your short trade around resistance levels( 715 & 718). I would take a long trade ONLY if 725.00 is broken.

Good luck and good trading to you all
 

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as i said 740 won't happen. had 10 naked puts i sold into close yesterday and covered today foir nice 3 pt profit. this is a broken index and all rallies should be shorted
 
Hi guys

while i'm still bearish on the russell, I THINK the bulls will take control around 660.00, if not , well this market will continue to sell off obviously.
check chart below for more details
 

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