ES Journal Archive (2006 - 2008)

[apex82]

megaphone or I call it a broadening formation... either way its a bearish structure. Need to get below 1517-1520 for it to take effect. Until then.... bulls still in control.

 

[Spectre2007]

durable goods wasnt as scary as the bond market was intimating at.

 

[saxon22]

What is scary is this market being so high up.

 

[osorico]

Quote from Spectre2007:

os,

any pics of them breaking to the upside?

everyone is looking at the chart and is instinctually shorting it. My inclination is to short it, but putting the chart in reference to everything else, I see the chart pattern itself fueling the runup since most are looking at this chart.

The problem with the "broadening" pattern is the only distinction is the trend they occur on. It's the same pattern, top, bottom, or neither.

The previous site suggests 3 up "waves" 2 down "waves" within the megaphone suggests bullish, 3 down 2 up suggests bearish.

 

[saxon22]

Anybody going for this DIP?

 

[ryank]

Quote from saxon22:

Anybody going for this DIP?

I was looking to go short at 1526.75 but missed by 1 tick.

Edit: apparently Oscar nailed it going short at 1526.50

 

[saxon22]

I missed it too, thinking of going long

 

[Spectre2007]

if it cant break the low its bullish.

 

[Spectre2007]

I'm buying the sep contract @ 1535.00, long term trade.


Edit: open range violation from below.

 

[Spectre2007]

the rules imply a retest of 1535.00 if we stay too long above the OR.