ES Journal - 2015

[schizo]

In 2008-2010 we had a financial meltdown. Is that happening now? Did I miss any news? How does today's PA suggest that we will get 50+ range days mostly down?

The market is up like 250 points or so on this last major leg up. And people get emotional because we drop 20 points?

Well, we're all entitled to our own opinions. I wish luck all the same.

 

[Laissez Faire]

Well, we're all entitled to our own opinions. I wish luck all the same.

Of course.

But I was asking you what you were basing your predictions on. Would you be willing to share that with us?

 

[Zodiac4u]

Thanks. I don't really look at the Bottom Band though for trend reversal--I just this as an area where there should be support and perhaps an upturn. The real test I think is at 2064

Right now the Bb's on the 240, appear to be suggesting we are entering a compressive period. If we go to 64 than we may be in an expulsion zone? which would suggest much lower prices.

 

[schizo]

Of course.

But I was asking you what you were basing your predictions on. Would you be willing to share that with us?

I go strictly by the chart. On that note, we broke below the major TL. Should we close the day underneath, we could see some heavy selling in the coming days--perhaps up to 50 points, who knows? People are already nervous from August selloff.

 

[Buy1Sell2]

--DT UM long 2086.50 Initial stop 2082.50
--Stop raised to 2084.75
--Out here at 2089.75 for 3.25 pt gain

 

[Eddiemorra]

L 2086.5
st 83.5

out 2093 +6.5

 

[Eddiemorra]

ss 2093.25
st 2097

 

[Buy1Sell2]

Reminder to all readers and casual observers: The name of the game in daytrading is taking very small losses. It is utilization of this principle, that makes great day traders.

 

[schizo]

Can we get another 20 pt drop from 2095.50? I think so.

Oops, forgot the smiley. :eek:

 

[Laissez Faire]

Almost back in green for the day now.