ES Journal Archive (2006 - 2008)

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non farm payrolls will come in weak. My gut is telling me:

equities will be weak
yen will strengthen
carry trades will be unwound
oil will go down
bonds will rally
gold will fall

asia was minor down
europe was up

spoos in night session have a slight upward bias.

yesterday on the close was strong.
this mornings trade seems bearish.
 
too much overhead supply needs to exit before the year progresses and summer starts... the 64 million dollar question is, do they take it up first.

or will other market players keep eroding it, so the summer crowd exits out at much lower prices.
 
hey guys,

just checking in to say hello. really nice drop last monday, but i was traveling, so i didn't get to trade it.

in a different time zone now, so i took a little trade prehours this am around 7est.

keep up the good work guys!

later....:cool:
 
Quote from apex82:

If this 1395 level holds I will expect a move up tomorrow to test the main spot of the zone. Preferably, in the morning. Today was a classic short covering rally.

There is support below the market at 1390.50-1391.50.
More...

Low in overnight globex...... 1391 smack dab in the middle of the support
 
ES levels for the day

Needs to hold 1391-1388 to remain bullish or bears will come in and take control. Possible wave 4 bullback completing at the first support zone. Probably a consolidation between first resistant zone and first support zone for early part of the day and then a possible breakout in the afternoon.
 

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ER2 Levels for the day

Same scenario as the ES. Could be completing a wave 4 pullback but must hold above the pivot 773.50 to remain bullish. Expecting a range between first resistant zone and first support zone for the early part of the day.
 

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