ES Journal - 2012

tortoise · Feb 18, 2012

Quote from JoshDance:

I didn't mean to imply that a logarithmic scale was bad or anything. A normal trend line on 80 year old data may work, but not these "over the river and through the woods" kind that ammo drew, IMHO.

No worries. Not sure what you mean by "over the river and through the woods" though. I've been thinking about his long-term trendline a bit, and it's been sobering. Will post on that later...

chaykapwr · Feb 18, 2012

Quote from tortoise:

No worries. Not sure what you mean by "over the river and through the woods" though. I've been thinking about his long-term trendline a bit, and it's been sobering. Will post on that later...

I believe he means trendlines which extend out WAY too far, such as expecting a trendline to hold over 80 years is a bit far fetched,

mastacoli71 · Feb 19, 2012

Euphoria is dominating this market. Pullbacks on daily chart pretty much non existent. I guess 1400 right around the corner and markets go straight up for days on end. Heck, why doesn't the feds just run this thing up to 1500 and get the bubble over with.

tortoise · Feb 19, 2012

here comes the gap up. woah

tortoise · Feb 19, 2012

Quote from chaykapwr:

I believe he means trendlines which extend out WAY too far, such as expecting a trendline to hold over 80 years is a bit far fetched,

I can't wait to post about that ... will as soon as I can ... (eg, I think Ammo's trendline DOES mean something -- quite a lot, actually)

Jestersofmalice · Feb 19, 2012

Quote from Jestersofmalice:

When the market is in 'mad mode' constantly rallying like it is at the moment, the pullback always comes much higher and later than people expect. People are only recently commenting on how relentless the bull run is, so there's likely lots more to come.
Maybe 1380 ish will see a decent little pullback?

Market was at 1307 when I wrote this recently.
Not long now

However, whether we get a pullback or not is another thing altogether, lol!

trickshot · Feb 19, 2012

Risk currencies all going thru the roof, and the Greek deal isn't even done yet.

JSHINV · Feb 19, 2012

I just remember last July, a couple traders who posted nailed the point of reversal (H&S right shoulder test and fail).

chaykapwr · Feb 19, 2012

Quote from trickshot:

Risk currencies all going thru the roof, and the Greek deal isn't even done yet.

Don't forget about pboc cutting rates

Lawrence Chan · Feb 19, 2012

Yen got trashed across the board since they do not want usd to gain strength over euro or the other majors.

It is first sign, however, that USD may stage a strong come back.

That will weaken all stock mkts.

If it is going to happen, will be within a few days.