ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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On the other hand it could well be a trap, we have had weeks of successive dip buying, my view is that we will see more red across the board. 240 minute chart on FDAX CAN be viewed as bearish, due to a potential 3 failure swing (completing a bear flag), S&P's weekly divergence hasn't played out to the full yet also.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1553899>
looking to the nonfarm payrolls, the payroll data might come in weak....Next week we have the FOMC meeting.
World markets don't seem to trust this rally. They are still behaving skittish. I would have thought the market would selloff to paint a nice bearish picture for the FED meeting.
If the market rallies too much prematurely, the FED may not shift focus, and the statement may not have the words that are supportive.
The MM's will keep the market under pressure till the FED meeting.
That is one scenario,
levels of support are 1468-70
65
55
42
levels of resistance:
92-96
16-18
28
44
66
expected range is 65------92
World markets don't seem to trust this rally. They are still behaving skittish. I would have thought the market would selloff to paint a nice bearish picture for the FED meeting.
If the market rallies too much prematurely, the FED may not shift focus, and the statement may not have the words that are supportive.
The MM's will keep the market under pressure till the FED meeting.
That is one scenario,
levels of support are 1468-70
65
55
42
levels of resistance:
92-96
16-18
28
44
66
expected range is 65------92
no problem...
I get superstitious when I reveal too much, so lot of the stuff I hold back.
But heres something on the charts thats pretty powerful indicator of future direction atleast for a week or so.
No matter what it took to print this...chartists wont ignore this, especially after a test of 200 day MA.
I get superstitious when I reveal too much, so lot of the stuff I hold back.
But heres something on the charts thats pretty powerful indicator of future direction atleast for a week or so.
No matter what it took to print this...chartists wont ignore this, especially after a test of 200 day MA.
premarket activity implies... 68 stops will be hit ..
state of trendlines, and MA's.
looking for that pink trendline to be tested.
I wont be getting net short until the previous lows get taken out.. at 42..definitively.
looking for that pink trendline to be tested.
I wont be getting net short until the previous lows get taken out.. at 42..definitively.
bond market needs negative futures for a few minutes after the news to run stops on the highs...
=)
ISM number next.
Jobs number was pretty soft.. unemployment rate ticked up too... not good.
ISM might save the market.. but market should trend down for most of the day.. and maybe find support at 1:30 -2:30 pm..
ISM number next.
Jobs number was pretty soft.. unemployment rate ticked up too... not good.
ISM might save the market.. but market should trend down for most of the day.. and maybe find support at 1:30 -2:30 pm..
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