ES Journal Archive (2006 - 2008)

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At some point , I still think we have to have the bulls make a run at 1300. If they don't--then as I said yesterday, the market is weaker than even I thought--and you are aware, I have thought it has been weak for quite some time.
 
Perhaps in general but not today before a long holiday weekend. We will coil around and go no where most of the day without other news and longs will be wary about taking strong positions before the 3 day weekend. Look for your 1300 push early next week perhaps where volume might be stronger.
 
Pretty bearish here on the 3 minute just now. As an aside--I think a close today below 1289.25 would be extremely bearish for the market. Need to break 1292.50 here--market falling in love with 1292.50
 
1292.50 to 1294.50 Seems to be the overall support and resistance and range all morning with spikes here and there. Those numbers are yesterday's low and yesterday's opening price. Scalped a point in the middle of the channel of these two, but not easily.

I think a breakout to either side which holds up should be watched. Sideways moves today might mean we stay in that range most of the day.
 
Well, the gap's been closed and I still see an upward direction at the moment, had to adjust my position accordingly as I use 2 point stop on the primary system's trades. There is a white hammer line @ 9.57am on 3 minute chart, though the T&S is not looking great.
 
Just poked above 1294.50 on nice spike..... for now looks like 1294.50 is the new low support with 1296 the current support/resistance line it is dancing around for now as it was yesterday's close. Perhaps the channel has moved higher to 1294.50/1296.

1298.25 is yesterday's high and strength will show if we can hit it.
 
Quote from optioncoach:

Just poked above 1294.50 on nice spike..... for now looks like 1294.50 is the new low support with 1296 the current support/resistance line it is dancing around for now as it was yesterday's close. Perhaps the channel has moved higher to 1294.50/1296.

1298.25 is yesterday's high and strength will show if we can hit it.
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Great to see your comments here coach--very interesting!
 
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