ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Wonder how many shorts got smoked ?
Yes you have a chance here, although 103 seems a bit high.
Compare the 10yr yield and SPY charts, both in Sept and Oct SPY had its relief rally two days after a big green day in the yield. And we have another big yield up day today... so some upside in SPY early next week is likely.
If ES 930 reached, short term view will change, but shorting rally is easier trade in a down trend. Market bottom is just a guessing work at best before it is comfirmed, so bottom itself is not the same as a long signal. Good luck.
Compare the 10yr yield and SPY charts, both in Sept and Oct SPY had its relief rally two days after a big green day in the yield. And we have another big yield up day today... so some upside in SPY early next week is likely.
If ES 930 reached, short term view will change, but shorting rally is easier trade in a down trend. Market bottom is just a guessing work at best before it is comfirmed, so bottom itself is not the same as a long signal. Good luck.
The bigger question for me is will any further rate cut by the Fed matter anymore? Bernie and his cronies are literally running out of ammunition. Will they cook up imaginary rate cuts should the rate reach zero, zilch, nada? Gawd, I knew this would happen! 
Should Obama become the next POTUS, the first thing he should do is to fire Bernie.
Should Obama become the next POTUS, the first thing he should do is to fire Bernie.
Thanks. It's possible this will become a lesson in how not to swing trade. Obviously I would have liked to see almost anything but a limit down in AH. My target for a rally at this point is actually in the 1100s with the caveat that January will be bloody, as the next wave of bad news should start to come out around then. 103 is there to book profits in the event of a one- or two-day blast upward. If we move above the daily TL in a saner fashion and it turns support in a manner evident on the 60min/daily, I might add to the position and ride the second half until it looks to be running out of steam.
I know, that's why I said, there were still 11+ points needed. But as you also posted, Bigcharts' open was 895 (not true) but nevertheless we did close that.
The previous unfilled gap was from Tuesday night(1st gap). Now as I mentioned earlier, as there are more and more days between the unfilled gaps, the big chance of the 2nd one getting filled start to shrink. So Friday's 80% gapclose mirrored that...
But what about this post
Quote from volente_00:
The sky is falling !!!
Anyone remember the other limit down move that happend around 1255 in the overnight a long time ago ?
The buyers then came out nicely but somehow I feel that won't be the case today.
Could this be the 10% early market close day that has been hiding ?
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