ES Journal - 2013

Quote from nillionaire:

Half day today.
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I actually wasn't trying to be funny.
I had thought it was regular trading hours today.
Thanks, brother Nill.
 
Its funny due to the slowness the mkt ever fell the last 6 weeks this board or anywere else never got bearish as the mkt bouced literally 30 times. After such a monstrous bounce since november and lack of a big fall and little bearisness its very suprising to see the mkt yet on the verge of another break to the upside
 
Quote from ammo:

thanks lc,waiting for it
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ES has to stay below 30 on daily close basis or the well-known anti-setup will kick in on weekly and force ES for a run to retest the year high. If that happen, a new high is likely.

That will also produce a better top than the one we have now as weekly has corrected enough to make it difficult to break the ice below.

Of course, if ES is willing to turn down tomorrow, we are all happy camper for a drop to 1540 then. =P
 
Interesting historical context from a yahoo article.


http://finance.yahoo.com/blogs/mich...ay-could-fuel-market-flare-ups-191523967.html

It’s a rather odd arrangement: a single day’s trading sandwiched by a national holiday and a weekend. The last time this occurred was more than a decade ago, as the tech bust bear market was teasing and torturing investors. July 5, 2002, the Standard & Poor’s 500 shot up by 3.6%. Interestingly (and probably meaninglessly) the July 5, 2002, close proved the market’s high point for the next 11 months, at which time the mid-2000s bull market got rolling.
 
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