ES Journal Archive (2006 - 2008)

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Quote from murray t turtle:

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B1sell2,;
nice buy call @1271 area, caught[late] part of that.

May buy @1213, sell on way down:p ???
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Thank you. And yes longer term, I still think the market is a sell.
 
I think it's prudent to begin taking a closer look at the monthly chart here. It's not at this stage yet, but it is certainly continuing it's weakness. A raging down move would probably come from a second lower RSI trough on the monthly there. This will happen in my opinion. Also, a close below the 20 MA would certainly indicate a stronger downmove thane we had earlier this year. The monthly is brewing this and I think it is a question of when, not if. For now though the daily is bullish.
 
I have had a bearish stance towards equities too. But have become more bullish given how the Indices have behaved during the last three months.

I wouldn't be surprised if we rally into December.
 
Quote from optionpro007:

I have had a bearish stance towards equities too. But have become more bullish given how the Indices have behaved during the last three months.

I wouldn't be surprised if we rally into December.
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Good to hear from you James. I am not as optimistic as you. I look for the rally until the end of August -Mid September and then a reversal downward. Of course, way too far away for me to predict with any accuracy.
 
Thanks. It's great to read you too.

Yes I am aware that the prediction business is better left to the weather man..

I am just surprised the markets have held up so well given the amount of "bad" news going around coupled with the present global monetary tightening cycle.

Long term major US and International indices still look healthy.

If SPX closes above 1280 and holds I think we might even have a positive Aug (against seasonal odds) which would further fuel my bullish views. But please note I do reserve the right to change my market views at any moment and without prior notice. humm humm
Good luck :)


Quote from Buy1Sell2:

Good to hear from you James. I am not as optimistic as you. I look for the rally until the end of August -Mid September and the a reversal downward. Of course, way too far away for me to predict with any accuracy.
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