ES Journal Archive (2006 - 2008)

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Quote from romik:

But in that case it shouldn't be that hard to interpret reaction to data. But as all here know reactions are mixed most of the time. I could understand if other markets were to monitor & follow S&P/NAS, but they seem to react instantly & in the same direction as the US futures.
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Exactly!

The markets don't so much follow each other as they run the same race, and take turns leading and following.

Simplistic analogy, yes, but that's what I see on my screens, so that would be my guess.

JJ
 
Quote from romik:

...IMHO, tomorrow is going to be UP UP UP, I reckon 1450+, I wonder what will Oscar say.
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Much good that turned out to be :) I personally didn't see any set-up to enter into a long trade, they just kept taking it up through the night & morning, I did get a result in DAX this morning though, unlike FTSE DAX just kept advancing which supports my "conspiracy theory".
 
Quote from romik:

Much good that turned out to be :) I personally didn't see any set-up to enter into a long trade,
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Difficult day. The only trade I saw was a break out of 1446 - 1448 channel to give a measly 2 points.
 

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Quote from romik:

...IMHO, tomorrow is going to be UP UP UP, I reckon 1450+, I wonder what will Oscar say.
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You probably called the Top.

It's looking like it wants to give a little back now.

S ES @ 1449.00, PS @ 1450.50.

JJ
 
Quote from JimmyJam:

Quote from romik:

...IMHO, tomorrow is going to be UP UP UP, I reckon 1450+, I wonder what will Oscar say.
***
You probably called the Top.

It's looking like it wants to give a little back now.

S ES @ 1449.00, PS @ 1450.50.

JJ
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Yes you may have caught the top here for a bit. Another strong leg up possible. What is important is that none of us know for sure where the market will stop. Stops make up what the majority of people consider support and resistance and provide areas for the big money to liquidate and refuel. Picture a baseball falling thru rice paper.

So what are your rules for ending this long play and getting back in and how will you stay in this short if it starts to run? You might be short and long at the same time? These are the important elements. Buy1Sell2 stops outside the noise works well to keep you with the trade. You may give it all back depending on your time frame.
 
Do you think it didn't violate 1451 by coincidence or luck? If the public stopped using stops, a lot of quant systems would go awry including my own.

You can rest assure that a break of 1451 will likely ignite a nice temporary run up.
 
I am buying 1443-1441.75. Adding on at 1438.50. Looking for a move to retest the highs and move higher. If zone is broken market will be coming off a DT and odds are we will see much lower prices.
 
I am done for today, trend days have always been my weakest link. Perhaps after 3 failed trades my brain's gone a bit numb, not seeing anything. All the best to all still in trades!
 
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