ES Journal Archive (2006 - 2008)

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Quote from mbusch:

My guess is that it doesn't get that high before it resumes going down. This looks to me like a typical bear flag. The volume pattern is quite striking -- consistently much lower volume on up-moves than on down-moves.

EDIT: I just went short from 1555.50.
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you may be right........going to be tough to find a conservative entry on this sell train....just being offered straight down.
 
ES is still in sell mode while NQ has given two good buy opportunities (hope somebody snagged 'em).

YM of course, is slow and steady, still saying sell.

JJ
 
Quote from JimmyJam:

ES is still in sell mode while NQ has given two good buy opportunities (hope somebody snagged 'em).

JJ
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Snagged the NQ but dumped them back. Now short NQ since 74.25 since 2:02.

EDIT: Covered at 67.75.

Relevance to trading the ES?

On trend days, the NQ, which tends to trend better than the ES anyway on an intraday basis, is smoother. For me, ES is more of a countertrend trading instrument because of all of the back-and-fill caused in part by those who hedge with ES when trading short gamma.

Good luck to all.
 
Another test of the critical 1552 level here. This level is the bull's last stand on ES.

EDIT: Wow, look at the size on the T&S window! They're using tactical nukes.

EDIT: We traded nearly 16,000 contracts in one minute there.
 
This is fascinating. The bulls put up one helluva fight to defend the 1552 level. The question is whether they've shot their wad doing it, or whether they can hold it again on the next retest. We've still got more than 90 minutes left for this to play out. Film at eleven.
 
Quote from mbusch:

Another test of the critical 1552 level here. This level is the bull's last stand on ES.

EDIT: Wow, look at the size on the T&S window! They're using tactical nukes.

EDIT: We traded nearly 16,000 contracts in one minute there.
More...

I wouldn't call it tactical nukes--just hitting the stops. Big volume on the 1-minute charts is the tipoff.
 
Quote from mbusch:

This is fascinating. The bulls put up one helluva fight to defend the 1552 level. The question is whether they've shot their wad doing it, or whether they can hold it again on the next retest. We've still got more than 90 minutes left for this to play out. Film at eleven.
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OMFG, I didn't realize it was so late!

I still haven't had my morning coffee. :eek:

That's OK, guess I didn't need it. :D

JJ

P.S. She looks like she's hold'in folks.

P.P.S. I don't like price action. It might make one more drop back into the abyss. Time for that coffee now.
 
Quote from smilingsynic:

I wouldn't call it tactical nukes--just hitting the stops. Big volume on the 1-minute charts is the tipoff.
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Since the low paint was 1552.00 and that was the exact september swing high, just imagine how many stops there are just BELOW 1552!
 
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