ES Journal - 2015

Very good long signal created this morning early and could have been long all day without a lot of trouble--just the occasional pullback. Intraday trend remains up as long as we stay above 2085 RTH.--Izzy
 
I'd post a screenshot but I'm sitting on my ass at the gym, trolling ET.

Pull up a 5 minute RTH chart...connect the first morning low with the second morning low, then extend the ray to the right. See how ES dropped through after that last push up?

But wait! There's more fun to be had.

Extend that same ray to the left...now scroll back on your chart...Yep, that's the low of Feb 2nd launching your trendline smack into today's close.

Anyway, not meaning to argue its significance. But I did find it kinda cute. And sometimes, y'know, Mr. Market likes to get cute...
 
tortoise said:
I'd post a screenshot but I'm sitting on my ass at the gym, trolling ET.

Pull up a 5 minute RTH chart...connect the first morning low with the second morning low, then extend the ray to the right. See how ES dropped through after that last push up?

But wait! There's more fun to be had.

Extend that same ray to the left...now scroll back on your chart...Yep, that's the low of Feb 2nd launching your trendline smack into today's close.

Anyway, not meaning to argue its significance. But I did find it kinda cute. And sometimes, y'know, Mr. Market likes to get cute...
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Looked at it and I do see what you are saying. My thought is that it is not significant other than possible pullback and not a trend change. It's my belief that the angle is too steep although it might suit some to take profit there dependent on what their exposure is and whether heavily leveraged. If a trader got out or went short on that break, then they could buy again on strength if ES makes new high.
 
Here is a thought. To get an idea of forthcoming performance of an index one can look at stocks within that index, example is YM, check out DOW30 stocks, as index itself may be lagging stock price action. I didn't like the way banks looked recently hence my question to Izzi about shorting soonish. I know how he trades, so answer was obvious :)
 
EsKiller said:
all i know is the indexes have turned to slop for the time being.
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I think that this can be somewhat normal when near all time highs and psychological barrier like 2100. Just as it fiddled around 2000 for a while. it's doing the same now near 2100. Staying long for now. The bounce off the lows this morning not surprising as the 1, 5 , and 15 all were extremely oversold.
 
Buy1Sell2 said:
I think that this can be somewhat normal when near all time highs and psychological barrier like 2100. Just as it fiddled around 2000 for a while. it's doing the same now near 2100. Staying long for now. The bounce off the lows this morning not surprising as the 1, 5 , and 15 all were extremely oversold.
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Low of the day is likely in at 2082.25.
 
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