ES Journal Archive (2006 - 2008)

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worst drop since 09/11....that simple...go ahead and throw away what has served u well until today....quit thinking and trade what you see and what you know....not directed at you Mr. B1....just simple thoughts from a non-thinker...this is a trend day all day....started very early this morning...maybe volente the hoot owl got on it about 2 this morning and rode it all day...with his texas cowboy hat and spurs on...his hometown is having big livestock show and rodeo right now....volente did you swallow your tongue when the market blew right by your 10:30 and never whimpered? I gave you the 10 pt rule....I told you to trade with the trend only....I told you to buy the dips sell the rallies...and you "discover" the 10:30 reversal....wow....i am so unimpressed...lol, my neighbor and friend. You are a persistent little fella...l like that very much...good luck...take those spurs off before you go to nightie nite.....you might have a nightmare... :cool: :p
 
Here are the higher level support zones.

The low of day was a perfect hit to the point on the first one.

The second is stronger from 1353-1363

Please mark these on your chart this time... You dont want to be heavily short at one of these areas. They are targets and places where you might want to trail your stop tighter. Also played for good intraday or swing bounces. These are on an spx cash chart.

I am hoping to form some sort of abc correction into the 1313 area over the next few weeks or months.

As I said before we are coming off a higher level 5 wave move overlapped with a lower level 5 wave overlapped with a bearish wedge....

This thing has the potential to cut through any sr level coming off a structure like this.
 

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Quote from Spectre2007:

expected pattern
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Not that it really matters, because the market will go where it wants to ... but

Your next resistance below yesterdays LOD are ....

77.50; 75.50; 62.50

I see nothing at 64.00

I would not be too concerned about about predicting (guessing this market)

Maybe it continues to drop, maybe the longs kick in today.... who knows and quite frankly who cares if they are a day trader.

The important thing only is to have a robust plan that keeps you on the right side of the price for most of the time and make certain that you trade your plan.
 
Quote from fearless9:

Not that it really matters, because the market will go where it wants to ... but

Your next resistance below yesterdays LOD are ....

77.50; 75.50; 62.50

I see nothing at 64.00

I would not be too concerned about about predicting (guessing this market)

Maybe it continues to drop, maybe the longs kick in today.... who knows and quite frankly who cares if they are a day trader.

The important thing only is to have a robust plan that keeps you on the right side of the price for most of the time and make certain that you trade your plan.
More...

Please tell me you are looking at more then just previous pivot highs and lows for support....

Dont get me wrong they are definately a strong CF... but just one of many when you are looking at the big picture.
 
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