ES Journal - 2012
- Thread starter Buy1Sell2
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ES Monthly & Weekly : With eight trading lefts in the month I would expect us to test 1368.50 if the downtrend continues.
If that breaks and holds then I think we have something.
The nasdaq on the other hand is about ten points from testing the bottom of its monthly range so I think that is where a lot of eyes will be looking early to get a feel for the remainder of this week and month.
If that breaks and holds then I think we have something.
The nasdaq on the other hand is about ten points from testing the bottom of its monthly range so I think that is where a lot of eyes will be looking early to get a feel for the remainder of this week and month.
The US Treasury threatened to take SP to town, for the ratings downgrade last time. I think SP was being investigated or threatened with investigation on the role they played in the housing bubble ramp up.
So not sure if SP will follow through with another downgrade, if they do it will be with the backing of other political members in secret.
So not sure if SP will follow through with another downgrade, if they do it will be with the backing of other political members in secret.
Non-Farm Payrolls[ 11/2/12] Friday
Presidential Election[ 11/6/12] Tuesday
only this coming week to make the low, before the jobs report/elections short covering. Obama most likely next President, market crash down post elections, fiscal cliff.
so how much damage can be done in 5 days?
if you look at last fridays trading, it was algorithmic partitioning/fragmentation of large order to position for the coming days. Multithousand lots.
wait for uptick, smash with size. To make good on those units, price has to be taken down 50 points minimum.
Presidential Election[ 11/6/12] Tuesday
only this coming week to make the low, before the jobs report/elections short covering. Obama most likely next President, market crash down post elections, fiscal cliff.
so how much damage can be done in 5 days?
if you look at last fridays trading, it was algorithmic partitioning/fragmentation of large order to position for the coming days. Multithousand lots.
wait for uptick, smash with size. To make good on those units, price has to be taken down 50 points minimum.
Historically if the NFP monday cannot stop the selloff (producing a swing low), we will get a flush all the way to NFP Friday.
The battle from the official vs. the panic / margin call fund is on.
I posted the composite average of election year daily charts (Dow, S&P, NDX) on my site,
http://www.daytradingbias.com/?p=68417
Notice how "magically" it has been that this current selloff is repeating history while all MSMs are mute about it.
http://www.daytradingbias.com/?p=68417
Notice how "magically" it has been that this current selloff is repeating history while all MSMs are mute about it.
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