ES Journal - 2012

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come on rangetrader jump on a long with me from 88.75 just for a few days
Quote from RangeTrader:

Well, this bully bull is still in hibernation. I need at least an hourly reversal to look for long scalps, and a daily reversal and retest of lows to turn bullish for upto one to two hour long trades...

See neither... 19 hours without an hourly engulf upward, 12 days, and counting...

Price is the best confirmation indicator!
 
As for internals... High cyclic volatility, and on average the cash market is still dragging the futures down like a lead weight...

Wake me up when the buyers are back...
 

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My weekly techs say were moving lower into next week. But we should at least start to chop... 12 days without an upward engulf is pushing it... It only happens once in a blue moon.

My support levels are 1284 and 1245. Those are the only spots I'm looking for a potential turn at this point. My 1324 support got broken down and whipped.
 
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