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ES Journal - 2013
- Thread starter Trvlwanderer
- Start date
Quote from shfly:
LF,
I don't see an ES gap...that gap closed later that evening...(Oct 1st.)
SPY gap (Sept 26th) closed at 169.65 this am, to the penny.
Seems like you're using the index futures close at 15 past four and also use the extended trading hours?
I only chart the US equity session with the 4:00 pm close for my gaps and don't consider a gap closed if price trades there during globex only.
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Seems like the bull was not satisfied with 91,50.
As of now, it looks like a push towards 92 is imminent, but looking at the day's structure so far, I'm not sure if the market will stop there.
Actually, there's a gap above at 1702,75. Completely in line with average daily ranges.
Be careful, bears.
As of now, it looks like a push towards 92 is imminent, but looking at the day's structure so far, I'm not sure if the market will stop there.
Actually, there's a gap above at 1702,75. Completely in line with average daily ranges.
Be careful, bears.
1750 and 1780 in short order (swing term). Last gasp FED and positive Fiscal news as catalyst.
Please don't short this market today. The only signal I can see right now would be, "the market is too high", but that is not a signal.
If shorting, at least average up as Livermore used to do. He would only add to his position if the market proved him right, not the other way around.
He once averaged down so massively that he liquidated a winning position to be able to meet his margin call and continue averaging down on his losing position. That lesson and the major loss that eventually followed made sure he never averaged down again.
One huge loss is all it takes.
If shorting, at least average up as Livermore used to do. He would only add to his position if the market proved him right, not the other way around.
He once averaged down so massively that he liquidated a winning position to be able to meet his margin call and continue averaging down on his losing position. That lesson and the major loss that eventually followed made sure he never averaged down again.
One huge loss is all it takes.