ES Journal Archive (2006 - 2008)

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this 2 bottom is last call for bulls ,imo......a break of the 2B would be significant.....coinciding with daily TL

also significant PA was taking out friday lo......breaking the IVB can be the precursor to a sell off,imo.
only thing missing is a catalyst......feels like there is a catalyst right around the corner & just waiting hit the headlines....as the media will have a scapegoat.
 
Quote from Spooz Top:

i think you need to show B1 a little more respect than what you have been displaying......
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I'll second that. Aside from considerations of simple good manners, even if 1586 turns out to be the top (and I think there's a good possibility it will), B1S2 knows better than most that the market usually gives you at least two good opportunities to exit. I would find it rather unlikely that we will not get back to at least the 1570s sometime before the bottom drops out. (Absent another 9/11-scale catastrophe.) The only way I see B1S2 giving back a big chunk of his gains would be if he panicked, which is hardly his style.
 
Quote from Spooz Top:

Pekelo,whats this obsession you have with predictions...
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Simply a hobby of mine...

most of the time being wrong anyway.
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Care to make a statistics of them?

i think you need to show B1 a little more respect than what you have been displaying....
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Now I got a PM about my previous post that it came accross as rude. I welcomed that feedback and my intention wasn't to be rude, so I am sorry if it come out the wrong way.

The point what I am trying to make here is that it was rather easy to see that a selloff would come, and I just don't get why someone with a long bias would't take gains and get in back at a lower level if he wants to maintain the long bias? Nobody went broke by taking gains.

But you are right, not my money, so why should I care?

P.S.: And although this thread was started by B1S2, it has became a community thread. If B1S2 asks me not to post here, I will politly oblige....
 
I am looking at a 5 minute chart. We will rally it is just of question of when. If I knew I would dial it in from Maui. :) Remember we should get some strong tech earnings starting with Intel. Keep an eye on the QQQQ's this week.
 
Overnight (beginning of AH) high print 1576.00, recent low 1556.75, difference roughly rule of 10 X 2, 20 pts

on big plunge day, Thurs 10/11, had roughly 20 pts down in the first leg, roughly 10 pt rebound, then roughly 20 points down to print low of 1556.25

Symmetry of the 24hr charts:

rebound on Thursday (10/11) printed 1576.00,
AH High print Friday was 1576.00 (first 5 minutes of AH trading)

That 1576.00 level was retested 3 times:
1575.75 H at 20:40
1575.75 H at 5:20
1575.50 near 8:30
and failed.

Not intending to create a debate with this next statement, only stating fact,

gap from 10/5 jump higher, still open 1556.25 to the following levels.

a) close of 4:00 session on 10/4 was 1553.50,
b) close of day session for futures was 1552.25.

Gaps do not have to get filled. I am only stating this condition because it exists.
 
Quote from Pekelo:



The point what I am trying to make here is that it was rather easy to see that a selloff would come, and I just don't get why someone with a long bias would't take gains and get in back at a lower level if he wants to maintain the long bias? Nobody went broke by taking gains.

But you are right, not my money, so why should I care?
.
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"easy to see a selloff coming".......lol...after the fact,sure.

it`s easy to be citical of anyone in this game...."after the fact".

it would be more beneficial for you to watch & learn than to critique anyones performance.....especially when one does not understand B1`s methodolygy....which giving back gains is a part of the method.

btw,it`s the thread starters thread.
 
Bottom of GAP is 50% retracement of 9/25 low to 10/11 high

I only mention this because multiple technical measures represent multiple diciplines, and therefore multiple disciples, the more people with eyes glued to screen, seeing something they are willing to act upon at a particular Px level, the more potential fuel for a move.
 
64/66 sell zone.......we`re not getting that sharp move off the TL that we expect as of yet....especially off a daily TL.....looking heavy.

dow/cash critical support at 950 = 20 day......
 
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