ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
very very heavy market, requires much effort to rally a few points (ES or SPX), seems a long way uphill to 920. But, maybe we get another day of consolidation. I should trade straddles with this type of market

Energy and Gold leading market sectors - wouldn't depend of these to lead rally. Financials and techs are down or flat

VIX is still going down, at 53.43, down 2.30
 
Quote from ammo:

those ledges i've been talking about were all under the mrkt,working size bids at 820,840,860, today we got one at 900 that represented a working size offer
More...
this is my logic,they held it up on these ledges to get short and on yesterdays 900 ledge they were holding it down so my guess is the big players are short here and the ppi # will take us lower,with that in mind,the afternoon could sell off,i could be wrong
 
Upside move could be completed as ledge top tested and failed.

We have a huge down side ledge from 918 area with height of 20+ pts.

872 in play today to complete this ledge before market going higher.

Edit: 2 intraday support levels here holding the market up. First, the down trend line from the 2 tops this morning. Second, the up trend line from the 2 lows so far. A break of them both will confirm the sell off.
 
Status
Not open for further replies.
Back
Top