ES Journal Archive (2006 - 2008)

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Mr Insomnia has paid me a visit tonite. Market currently sitting at 1441.

3 market moving reports coming out at 8:30 ET; CPI, Housing Starts, Jobless Claims.

Bernanke speaks to Senate Budget Committee on long-term US economic challenges at 10:00.

The cynic in me says the bigs are loading up overnight, gapping the market up, to collect a on shorts at the open. Another possibility is that they expect good reports and are getting a jump. Either way, it seems likely that the action will be wild.
 
Here are the ES zones for the day. Resistance zones are not as defined and I would definately not recommend shorting those levels without tight stops and smaller size due to being countertrend. Odds call for a trend day so it is better to stick with the direction. Be careful and conservative as there will probably be some big spikes around the data releases.
 

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Here are the ES zones for the day. Resistance zones are not as defined and I would definately not recommend shorting those levels without tight stops and smaller size due to being countertrend. Odds call for a trend day so it is better to stick with the direction. Be careful and conservative as there will probably be some big spikes around the data releases.
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The second ES support I constructed is a bit off. It is stronger in the 1430-1431.50. Basically it should be adjusted down by a point.
 
Princessa,
If you are out there are you a little more relaxed this morning about your decision to hold overnight? I hope you make out like a bandit on it.

Gary
 
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