ES Journal - 2012

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Quote from Rickshaw Man:

Why throw your money away. Don't short this market right now like everyone else around here.

Rickshaw, u crack me up. I know a guy just like you that only knows how to trade long. You see what you want to see and when it does not work you stay stubborn. All the while you miss opportunity after opportunity. Whatever makes you tick.
 
Quote from mastacoli71:

ES 60 min. Retest retest retest of trend line. Not good for bulls IMO.

If we maintain trading above 1383, market has a good chance of hitting 1445 by next week.
 
Quote from mastacoli71:

why? technical or gut feeling?

Technical. The reversal on 11/28 was a strong statement telegraphed by the bulls (with vigorous buying on above average volume), telling investors that the market had no business (just yet) entering into a bear market.
 
Jack Hershey has been using words instead of funky abbreviations when evangelizing newbies lately, and the "failure to traverse" was mentioned as the first clue to an impending trend change.

I've seen this many times when channeling wave counts. And here it is on SP500, for your enjoyment.
 

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