ES Journal Archive (2006 - 2008)

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I am also sensing some potential move lower as we head into Fed meeting next week. I do not like to carry futures overnight so I went long SPY puts. I think we have some blind buying that keeps fizzling out, at least that is how it looks the past week or so....

I did scalp some long ES for a point at around 11:00 AM but that is it really since I missed the price breakout in the pre-market.
 
Quote from optioncoach:

I am also sensing some potential move lower as we head into Fed meeting next week. I do not like to carry futures overnight so I went long SPY puts. I think we have some blind buying that keeps fizzling out, at least that is how it looks the past week or so....

I did scalp some long ES for a point at around 11:00 AM but that is it really since I missed the price breakout in the pre-market.
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All I've done is yawn for the last half hour, no trades so far.
 
Just a thought here, 20 MA is about to cross 50 MA on an 60 min chart, now that would normally suggest a buying opportunity, just not sure at all what's about to happen today, will probably either scalp for some or nothing at all.
 
I do not know but 1317 is like a mean line it keeps reverting too over the past hour or so..... I know it is the lunch doldrums but it also shows no clear conviction yet on the day after the initial pop. Yesterday's open of 1318.75 has shown overhead resistance so far.

Should be interesting to see if we run over 1318.75 and stay there or if we fall from 1317. I am personally hoping and expecting the latter lol..
 
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