ES Journal - 2017/2018

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peter matthew matty said:
2747 is the Monthly Chart Cycle High - The rest of the above as of 2874 is the Overbought Value State - By my watchful count. - Its falling like A Knife - Ever heard on that Market Talk - If not why not ? I`ve Priced this Derivative at 2450 to the Lowside. But only my opinon but not at a Guess but A true count of the pips within the instrument. Lets See.
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If you want falling like a knife, go back to 2008, but this is not it. Cheers:thumbsup:
 
What in a world do we live in, where we can't even trust Joe Namath anymore? Today ended up basically being a Doji, with +13 and -9 pts swings. So the question is:

Was this Doji a continuation of the previous 3 days sell off (and consolidation before further downside) or is it going to bounce from here? Honestly I can't tell. There was no follow through to the rally, it was very weak. So maybe this 13 points all what we get and we drop from here another 30-40 points...

But I do expect a nice trend day tomorrow, whichever direction it would take...

Edit: I looked at the Dow chart (what I seldom do) and it ended up in the green by 1 point. But anyway, if I have to predict using that, I see more downside, because it visited the SMA line from below, and bounced back from it...

Edit2: The NDX is sitting on the former ATHs support line. Until it goes below that, it is still bullish.
 
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Spooz Top 2 said:
Sell Off continued just as I anticipated... Less the IR... as Bullys couldn`t find a floor to "carve" out or even a leg to stand on as Bullys remain a Vapor Trail here as do their fan clubs.

I continue to stand behind my call as Diamond Top is in effect & behaving just as it should by building out the right side Apex before the slide of roughly 300 Handles... We`re leaning on the lower bar on Dow & Spooz Diamond as I type.. DAQ joining the party...

We either trade down to 40-50 Range.. followed by a coast to coast like butter and toast rip to the Upper TL on the Apex or We commence the slide today... I`m leaning for a continued build-out before the Dam breaks.

Judgement Day is on the way... Explosion move imminent!

Heavy Heavy....
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BINGO!

After a soft selling open.. Bullys got busy & we got the anticipated rip, to 67 .. They were met by sellers, whom were rewarded again by a nice 20 handle dump down to 45 range, As we continue to "build out" within the confines of my defined range.

For those of you getting diced up like a Vidalia onion within this Apex... The confines of this build out are pretty evident on the larger TF`s... until they`re not.

-Steve
Heavy Heavy
 
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No reason yet to abandon my short here overnight. I'll watch closely the 2763 area as I indicated as well as the 2744 area on the bottom.
 
Based on the overnight action (sideways) and how the McMaster dip was bought up, I am guessing an at least 20 points up for Friday.
 
Pekelo said:
Based on the overnight action (sideways) and how the McMaster dip was bought up, I am guessing an at least 20 points up for Friday.
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Pekelo, Every other post, you choose is an alternating stance from bearish to bullish...back to bearish & now bullish.... & when either occurs, you`ll claim victory & that you were right?

I know you don`t trade money & that`s ok but every one sees your constant straddling & yet you want to be taken seriously. I enjoy a good percentage of your posts as you offer some value... but trading isn`t about "needing" to be right!

If you feel the urge to make a call... then make it & then see it through by standing by it!
 
Heading out to a Real Estate foreclosure auction for the day... let your winners run & play your stops tight to the vest... the story lies in the bigger picture!
 
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