ES Journal - 2013

Quote from gmst:

thats good for male traders but how will women traders feel this weekend? :D :D :cool:
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:D

I decided to try out a trade using Parabolic SAR (.02,0.2)with the crossover "signal" up down arrows) this AM using the 5 min chart. I was looking for a long scalp of perhaps 5 pts and given the vol felt that would be do able.

I ended up putting the trade on a good half hr before it gave a signal...I went long at 71.5. When it did give its signal I would have gone long at 73.5...market continued down and very quickly it flipped its signal down. I kept my long on ( I had bought the eow 70 put as protection) set the close for 76 and went for a walk. We got the Bohner bounce and I was out. However I felt the 5 min was not a very useful tool. Looking at the 15 min now I'm still feeling it may not be all that useful.

Have any of you used it? what time frame? I know your supposed to use it with other TA but I really wasn't impressed.
 
I am not saying it will crash tonight. But I watch a variety of market internals that convey a market in distribution mode. This has been going on for several days in the SPX but the inflection point for the NDX from my perspective is coming over the next few days. When I say inflection point I am referring to a change of direction in the 10 period simple moving average on the Daily chart. We already have that in the SPX but not the NDX or the RUT.

Of course if they open the government back up this would change the liquidity context, but so far it seems they are playing this out until mid-October when the debt limit issue comes into play.

However I think you make a very good point about the resilience of the market thus far in the midst of distributive pressure. After all the VIX printed a higher high today relative to the low in late August at the major trend line I referenced earlier, yet we have not tested that line again yet.
 
This market has no conviction. I think something is brewing underneath, but hard to fathom. Anyway, the dead-zone continues. Will bail out of my trade should nothing happen within the next 10 minutes.
 
Quote from RichardRimes:

:D

I decided to try out a trade using Parabolic SAR (.02,0.2)with the crossover "signal" up down arrows) this AM using the 5 min chart. I was looking for a long scalp of perhaps 5 pts and given the vol felt that would be do able.

I ended up putting the trade on a good half hr before it gave a signal...I went long at 71.5. When it did give its signal I would have gone long at 73.5...market continued down and very quickly it flipped its signal down. I kept my long on ( I had bought the eow 70 put as protection) set the close for 76 and went for a walk. We got the Bohner bounce and I was out. However I felt the 5 min was not a very useful tool. Looking at the 15 min now I'm still feeling it may not be all that useful.

Have any of you used it? what time frame? I know your supposed to use it with other TA but I really wasn't impressed.
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personally I never used it.
 
Quote from horton:

However I think you make a very good point about the resilience of the market thus far in the midst of distributive pressure. After all the VIX printed a higher high today relative to the low in late August at the major trend line I referenced earlier, yet we have not tested that line again yet.
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Moreover, I should also like to add that the market has always played the devil's advocate. Like a spoiled child, it will rant and bitch until it gets what it wants. Hence, if it deems that the government ain't acting in accord to its wishes, it will swoon only to make Uncle Sam get off its ass and act.
 
Nothing left in the day, just wants to settle at the intraday 50% retracement level.

Looking for minor up then more lower lows before end of the week.

NQ same boat.
 
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