ES Journal Archive (2006 - 2008)

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Quote from sosa1974:

Did anyone catch that 14+ point move down this morning. 1274-1259.25? I was watching it but didnt trade it unfortunately.
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No I sure didn't -- I was not trading overnight last night. Positionals look oversold on daily, but weekly shows more downside, so I will hold through the bounce.
 
Quote from Buy1Sell2:

No I sure didn't -- I was not trading overnight last night. Positionals look oversold on daily, but weekly shows more downside, so I will hold through the bounce.
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Any short term support besides the 200 day. We are getting close to the open of the year on the ES. We break thru that and its either going to be supported or more downside to come. This would be purely technical though. I think the next round of action will come around 1250 or 125 option strike price area. We will find out soon it seems.
 
We've hit my short term target of 1260 twice now. My weekly charts suggest further weakness to 1240 short term with a bounce or two prior to that.
 
Quote from romik:

bearish and bullish divergences on 5 minute charts
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I believe someone may ask about the bullish divergence that occurred just prior to the one marked. Can you explain the difference between the two?
 
Quote from Buy1Sell2:

I believe someone may ask about the bullish divergence that occurred just prior to the one marked. Can you explain the difference between the two?
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not sure which one you are referring to, I assume you are talking about linking a previous lower low on stochastic and tieing them into 3 bullish divergence. Is that it?
 
Quote from romik:

not sure which one you are referring to, I assume you are talking about linking a previous lower low on stochastic and tieing them into 3 bullish divergence. Is that it?
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yes-- does that look like a divergence right before the one that you marked? If so, I think it would have been ok to trade and use a stop , then increase size on the triple.
 
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