ES Journal - 2012

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Quote from Spectre2007:

key is credit markets.. watch credit markets to give direction for equities and eur..
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which credit markets are you tracking, US and Euro or mostly Euro for this type of news?
 
Quote from mastacoli71:

which credit markets are you tracking, US and Euro or mostly Euro for this type of news?
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24 hr proxy to bunds(german credit) would be the EUR, USD/JPY is reacting currently to BOJ debasing its currency by its willingness to buy back its own bonds. A rising USD/JPY and EUR/USD would favor rise in global equities, with credit markets suffering (yields rising).

The most direct indication would be bunds (german credit), EUR/USD close second.
 
Quote from Pekelo:

Get ready for the 2nd gap play, long at 4 pm
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The baseline was 1404 at 4 pm, currently 1407, good enough for a quick gain. If price falls back, rinse and repeat....
 
Quote from Pekelo:

The baseline was 1404 at 4 pm, currently 1407, good enough for a quick gain. If price falls back, rinse and repeat....
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Overnight it worked about twice, price fluctuating between 1404-06.5. Finally after 6 am it dropped below the baseline giving a 3 pts 2nd gap at the max. It has just closed, so show is over... :)
 
Quote from Pekelo:

Overnight it worked about twice, price fluctuating between 1404-06.5. Finally after 6 am it dropped below the baseline giving a 3 pts 2nd gap at the max. It has just closed, so show is over... :)
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Thanks for writing :)
 
Apparently, the show wasn't quite over, one more 1402 to 1404 move, but now we are so close to the open that nothing else is guaranteed. Based on the daily, I am bearish. Since we kind of closed the downgap from the 1407 area, we could just tank from here without gaps left behind....
 
Quote from Pekelo:

Apparently, the show wasn't quite over, one more 1402 to 1404 move, but now we are so close to the open that nothing else is guaranteed. Based on the daily, I am bearish. Since we kind of closed the downgap from the 1407 area, we could just tank from here without gaps left behind....
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1417-1426 gap on cash
 
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