ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

1455 is the pivot and the overnight HIGH. That's resistance today.
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Not that it matters (don't mean to pick nits) but by my calculations daily pivot is 1454.50 which is the exact high print so far. Kinda made me go, "hmmmmmm"


Spectra, if not the longest certainly the best (great info and major efforts made to keep the tone positive)
 
Quote from smilingsynic:

If anyone remembers around a year ago what happened during a Fed meeting after a long period of declining prices, you know that the shorts may well get bent over.

The best short squeeze of the year might be coming up, imo. Not today, probably. Today looks more like a range day, with very wide movement. 1455 is the pivot and the overnight HIGH. That's resistance today.
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Good observation SS, the date was 062906
 

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Quote from Buy1Sell2:

JSSPMK, you are stating exactly what I am getting at, You see the 60 minute turning and so you drop down to the smaller frames for entry and exit, thus you are trading with the longer frame 60. Good work!!


Everyone should define what longer term means to them. High leverage uses 2 minute and 10 minute charts, so 60 and 240 become the long term, not daily and weekly. :)
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This is a great point, ideally you would ride a scalp into the longest time frame. Each trader has to define what is a long time. For example, I went long GS early and while sitting thru the drawdown was unpleasant I was confident in my position. The whole trade was 20 minutes; felt like two years. A newbie can't handle this kind of heat and usually will exit just before the market reverses. That is why system trading, meaning following rules is a good idea. :cool:
 
Quote from wave:

If you not long, you wrong.
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Wave, how long be long? You think we retest 1455? I've also got some overhead trend lines coming together about 1450 that could possibly be resistance. It's nice to be non-wrong, but I'm a little fuzzy on how long being long will continue to be non-wrong. :)

Well, looks like it didn't stop at 1550.!

Having a little resistance at 1451.75.

I'm seeing an RSI divergence ("grail") suggesting we may run out of steam soon. But I'd love to see it run some stops at 1555 first...

EDIT: How 'bout dem bulls? Nice work, beasts!
 
Quote from mbusch:

Wave, how long be long? You think we retest 1455? I've also got some overhead trend lines coming together about 1450 that could possibly be resistance. It's nice to be non-wrong, but I'm a little fuzzy on how long being long will continue to be non-wrong. :)

Well, looks like it didn't stop at 1550.!

Having a little resistance at 1451.75.

I'm seeing an RSI divergence ("grail") suggesting we may run out of steam soon. But I'd love to see it run some stops at 1555 first...
More...

I have 1460-67
 
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