ES Journal - 2012

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Quote from keeptradin':

Heehee...guess we're all confused right now. :p

I don't like being short at this level, and long worries me as well with the unfilled gap below. Best to be patient.
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No doubt. :)

I still consider 36 as a line in the sand. As long as we`re staying above 36 I remain bullish, just not overly confident in a long, so better to be on the sidelines with my 100 simulator cars. :p
 
Quote from keeptradin':

Heehee...guess we're all confused right now. :p

I don't like being short at this level, and long worries me as well with the unfilled gap below.

Pretty low volume...best to be patient.
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Well, guess I got my answer...:eek:
 
It seems like the 50% gap level is more relevant with larger gaps and not so much so with a smaller gap, since a gap fill is more likely with those.

Another thing I`ve noticed is that if the gap is near the low or high of the actually day we gapped away from, we typically test that level as well, so it may be wise to wait with longs until the market has demonstrated that a bottom is in instead of predicting that there will be one. :)

Personally, not getting a good read on this at the moment, but the 50% level from yesterday at 34 is currently holding.
 
spy options are saying 135 or above,that takes us to around 1344 es, back to the 47 cash nip top...if you believe all the greece news,,jpm news,is part of a sheep herding script,the spy opts are telling you that it should all be clearer marginally to the upside by friday...amazing how much movement ,and how many times it's worked using the iliad and the odyssey as fodder
 

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