ES Journal Archive (2006 - 2008)

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03-07-07 12:35 PM



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Quote from Spectre2007:

if oil sellsoff then it should add some selling pressure. Oil is behaving toppy. I will only short spoos if oil breaks those stops at 60.00


watch for stocks to breakdown as oil crosses the 60 dollar mark.
 
Interesting commentary Spectra.

From where I'm sitting the markets might be forming a nice reverse H&S, looking to move back higher off the gap up.

They finished up (which is bullish), and unless they break support, I'll be looking to be a buyer on Monday.

Good trading,

JJ
 

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Here's the QM.

While its been dropping, the ES has been making a parabolic rise, so just based on observation, I can't say I agree with you.

But if you want to elucidate on your thinking that would be fine.

Good trading,

JJ
 

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if you remember a few weeks back, the oil selloff didnt impinge markets till it crossed a psychological threshold. So even though its dropping, it doesnt capture the general markets attention till it hits psychological levels as 80/70/60/50/40.

Am I saying its a done deal no, but you should be aware of that mindset as it was rationalized a few weeks back.

plus the NFP numbers/news dominated the mindset friday. When you have lack of news, the markets will ficsate on other focal points.
 
OK, cool.

But so long as Friday's lows hold, I'm buying on Monday, what happens after that, as Osorico says "depends on what I see".

But thanks for info, ideas and heads-up.

Good trading,

JJ
 
Inflation data globally is coming out stronger then expected. GBP PPI came in stronger then expected. ECB maintaining hawkish tones. Japanese GDP strongest in 3 yrs.

European markets/equities under pressure. Should trend ESM7 down for US open. Currently at 1419.00.

US range 1422 - 1419 - 1410 expected.
 
1404 area is last hope for bulls. We crack that... watch out and dont buy the dip. If we dont get a breakout today, tuesday will be a huge day. Market has odds of opening in one range and closing in the other... only contigency is mondays are typically range reduction days.
 
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