ES Journal Archive (2006 - 2008)

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Quote from romik:

B1, 10 minute chart's histogram is looking bullish at the moment, RSI gone/going through 50 (1,2,3 min) and CCI was @ -100 recently making double bottom.
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Looks like the 5 minute chart had a nice declining RSI pattern about 7 minutes after your post--Did you grab that one? (Your post said that you had gotten short).
 
Quote from Buy1Sell2:

Looks like the 5 minute chart had a nice declining RSI pattern about 7 minutes after your post--Did you grab that one? (Your post said that you had gotten short).
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I sold the pullback, triggered by bullish divergence in histogram and rsi, off higher bollinger band on 1 min frame and covered pretty much at the lowest point.
 
To me, this has been the most "trending" afterhours
evening I have seen...

Still long from the 1247.00...will monitor and close out prior,
and if in fact, I need to ......via the "Midnight" action.

Stop moved to break even...

Monaco
 
I believe that there is still opportunity for a significant bounce here. The bottom has been touched twice here and could be siignificant support.
 
B1 and guyzzz, I keep looking at the daily chart of the S&P and can't help but be more and more convinced that it's going to tank this week.

We are at November 05 range at the moment and with most technical indicators suggesting a down trend (longer term), personally, though I do not possess the experience of some posters on this thread, it seems to me that "a miracle" is needed for the index to reverse at this moment and time.

Hopefully I am not the only one thinking along these lines.

EDIT: And B1 you have probably stated this already, but I'll mention it anyhow, triple bearish divergence on a weekly chart.

Also it looks to me like a triple bearish divergence in the CCI, peaking November 05 range. What I have experienced with divergences in shorter time frames is that they would revert to initial peak/bottom and that is case of CCI and histogram averaging 1200 range in the index.
 
Quote from romik:

B1 and guyzzz, I keep looking at the daily chart of the S&P and can't help but be more and more convinced that it's going to tank this week.

We are at November 05 range at the moment and with most technical indicators suggesting a down trend (longer term), personally, though I do not possess the experience of some posters on this thread, it seems to me that "a miracle" is needed for the index to reverse at this moment and time.

Hopefully I am not the only one thinking along these lines.

EDIT: And B1 you have probably stated this already, but I'll mention it anyhow, triple bearish divergence on a weekly chart.

Also it looks to me like a triple bearish divergence in the CCI, peaking November 05 range. What I have experienced with divergences in shorter time frames is that they would revert to initial peak/bottom and that is case of CCI and histogram averaging 1200 range in the index.
More...

There is no question that the weekly chart continues to be bearish. The daily chart and the hourly chart at the moment of this writing are still bearish, but both have the initial makings of upside reversal. There is very good potential here for a bounce.
 
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