ES Journal Archive (2006 - 2008)

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yeah usually in a 'stop cascade' the levels just keep breaking in a timely manner. So the shorts should be looking for further levels to break, and if they don't they will cover.

the selling power on the open will be negated since other larger players will come in and rout the shorts.
 
Quote from Spectre2007:

morning period is for the shorts to be loaded up for the afternoon friday squeeze.

dow 14K rah.. rah rah...<--- gets his pom poms out.

ohh...forget about those nasty industrial earnings component surprise.

if friday doesn't close reasonably positive, look for a bad monday. People will mull over the earnings miss, dollar woes, and oil at 80 dollars per barrel and all those nasty implications.
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I agree. Dow and SPX cash both resting on 3-day TL here .. looking to go long if they hold past 10:45.
 
Quote from apex82:

looks like it wants to run up and test 1556-1557 before heading lower. That will be the real test if this is the real deal or just a washout.
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yup......this test here of 55/57 could dictate next week & the short term.....very significant.
 
Quote from razf1:

Guys,

What do you make of the disconnect between the ETFs and futures? Both SPY & IWM are not down nearly as much.
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The reason for that is because the futures dropped heavily in the 4-4:15 pm mins frame yesterday, thus they got out of sync...
 
This will be a good opportunity to put on some fresh longs. --Not necessarily today, but when we get the beginning of renewed strength. I myself have not see the proper set up yet to jump back in long. I continue to be on the sidelines.

The 2 minute chart of course will be showing strength soon, but that is not what I am talking about.
 
Most likely this is not the top, but if it is, then I will be prepared at some point to begin trading from the short side. Not today though. --There will be plenty of time for shorting down the road. --:)
 
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