ES Journal Archive (2006 - 2008)

[apex82]

Quote from apex82:

I just thought I would post what I am looking at. the 1398 long at wave 4 worked out perfectly. I projected a symmetrical 5 wave move to complete on the es at 1411.50 last week. High today was 1411.25 for an immediate decline. Everything is lining up perfectly. I would say short any retest of 1411 with a 2 pt stop and go for profit targets marked as blue zones. If stopped out, wait for a move to 1415 area where you will reshort with another 2 pt stop and hold for a homerun.

This is a risk 2 to make a minimum of 13 scenario with high odds.

Profit 1, 2 and 3 hit and filled. Low of day right here or at 1391.

 

[romik]

Quote from optionpro007:

For your review, weekly EUR Vs S&P

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1276933>

So if EURO continues climbing and it's certainly looks that way on daily to monthly charts, so are we to expect a reversal in the S&P?

 

[romik]

Quote from apex82:

Profit 1, 2 and 3 hit and filled. Low of day right here or at 1391.

excellent

 

[volente_00]

FWIW 1388 cash is the 20 day ema



I expect to bounce from here

 

[Optionpro007]

Anything is possible.

But so far the EUR has preceded the S&P in good fashion.

Theoretically speaking if the EUR hits 1.35 as I expect it to do before 12/31, we should have a good 2007 on the S&P. (since it would be the third year anniversary for the EUR initial top)

Last year we sold off into mid December though, and most markets around the world are taking a heavy breather now.

But market theories are worthless unless proven otherwise....

Quote from romik:

So if EURO continues climbing and it's certainly looks that way on daily to monthly charts, so are we to expect a reversal in the S&P?

 

[romik]

Quote from volente_00:

FWIW 1388 cash is the 20 day ema



I expect to bounce from here

I don't agree, EOD will point to what's to be expected. I doubt 20ma is to be relied upon at this point.

 

[volente_00]

Quote from romik:

I don't agree, EOD will point to what's to be expected. I doubt 20ma is to be relied upon at this point.

Still in the channel, and right near 20 day


Long at 1388.50
2 point stop

 

[romik]

Quote from volente_00:

Still in the channel, and right near 20 day


Long at 1388.50
2 point stop

I wish you all the best of course, but I wouldn't be surprised if S&P shaves off 2% by EOD. (and a divergence is there on your chart)

 

[volente_00]

Quote from romik:

I wish you all the best of course, but I wouldn't be surprised if S&P shaves off 2% by EOD.

Why so bearish now when you were bullish at 1402 ?

 

[Optionpro007]

I wanted to short the S&P but didn't because of b1s2.

Too much respect.....



but very much deserved...