ES Journal - 2012

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We got pretty good bottoming at 1305-6 on this push down. If we are going to break it down and we are going below 1300, price should make a run again at it quickly - like within next 30-40 minutes. Other scenario could be we wait till 3 EST and then we make a big push down, ending the day around 1298-1302. Let us see.
 
this is weak no doubt there right?

if you shorted 18 would you take profit here? oh yes.you hit the lottery!

you might even be emboldened to go long trying to scalp a bounce.
wtf, can afford to lose a point or two if wrong, right?


however the trend is down?
long is risky.

just thinking out loud here
this is M Y thought process :D
 
Quote from bigsnack:

It's just a hunch, but based on what I'm seeing I'm smelling a possible double bottom and then a move upward.

thats interesting and i respect it.. but i am seeing one more push up for a point or two then look out below. this day is very very weak imo so far.

i do not have a lock and i do appreciate all other analysis & opinion.
 
Quote from bigsnack:

It's just a hunch, but based on what I'm seeing I'm smelling a possible double bottom and then a move upward.

Yes, very well can happen, support at 1305 is pretty strong. 8 attempts (24hr session) from Friday to Today but couldn't break it. Only the kind of selling we witnessed in morning today has a chance to break it, which could come post 3pm. Otherwise we go higher towards 1325.
 
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