ES Journal Archive (2006 - 2008)

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Quote from JimmyJam:

the market is finding resistance at its previous day's Low after today's sell-off, a drop in the YM should confirm it making it back to the day's Lows.

JJ
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OK

Now the Bulls wanna get the Ball again.

If they can hold 1426-1427 they're going to push it back up above the day's highs (will they?).

Don't know, but if it breaks 1430 to the upside, it's game on.

Jimmy Jam
 
Hey Guys,
Looks like it dropped down and bounced off of support today. The ascending triangle is still valid. I would go long at 1454 or short at 1420. Which ever trade came up first should be a good 20 points per contract. JMHO...

Gary
 

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Hi Gary,

I have thought about this, looking at different TFs & other markets. I asked myself, looking mainly at the 4 hour chart in various markets - Is this the end of downside & is it ready to bounce from here? I couldn't see the bottom at the moment. Actually 240 min chart on DAX is about to enter today's phase in the US markets, where MACD has crossed 0 line price has dropped, bounced & went back to settle at the support level. Well, I could have booked ~7.5pts on the last trade, but it went back down to the support. Screw it, I was already sitting on a nice profit from DAX trade & did expect price to take off rather than retrace back to current support level. Anyway, I don't think price is ready to reverse right now, especially considering other market's 240 chart is to follow suit today's US markets.
 
Quote from wareco:

OK. Gotta ask. Did you play for the Green Bay Packers?
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"...I like the way you are thinking ...!"

but, the answer is no (wish I did have that kind of talent !! )

sorry, alot further south and on the college level -

GO WOLFPACK !
 
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