ES Journal Archive (2006 - 2008)

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Quote from volente_00:

Nothing is ever what it seems.


Personally I'm looking at some greedy nervous shorts that will in time fuel this to 1350.
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I agree that "nothing is ever what it seems"....which keeps me out of the prediction business. I just go with the tape. And I would also say that there is always some nervous shorts, always people picking the bottom, always panicky longs.

That said, we break the uptrend line yesterday. We're below any key moving averages I'm looking at. So by definition, trend is down. Now admittedly, it can always turn up. But in B1S2's case, his belief is the trend is up....I'm just wondering what he's looking at. Afterall, we did just hit a new reaction low this AM.

OldTrader
 
Quote from OldTrader:

Looks to me like the trend is down by virtually any measure. What are you looking at here that says it's up?

OldTrader
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We have yet to break previous reaction lows or have a bearish divergence. Trend remains up on the daily rather significantly.:)
 
This is a hard market to get a feel for today. Yesterdays trendline break is now resistance....


Before I take a stupid trade I am going outside, maybe things will be clearer later...
 
Quote from regal_2012:


when I change my outlook I might, thats right might post it here for my fans.
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didnt I post it for my fans?

at 1010AM EST I posted and said 32 point gain in 2 1/2 trading days.

that is/was a signal to cover.wasnt it?
 
i think today is a turnaround day, an all day upper (adu), to coin the term from pekelo. let's see how the afternoon goes...61 is line in sand and s1. if it can hold, then i think we go to rally mode to 1300-1320, as others have said.

i had signs last night that today would be an up day (after this morning's retracement, of course). now we've retraced from our high of 76 back to 66, so let's see if the afternoon bulls can make their stand....
 
Quote from Buy1Sell2:

We have yet to break previous reaction lows or have a bearish divergence. Trend remains up on the daily rather significantly.:)
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Disagree. We already had a failure swing & daily support broken. You obviously, somehow, value some support levels over others. Histo at centreline on daily, when weekly & monthly both are below it.

:confused: @ "significantly"
 
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