ES Journal Archive (2006 - 2008)

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as you can see the sentiment has switched to bull again, the risk is that the institutions use the better then expected consumer news to sell it as the day progresses, to run stops below. Using the reasoning that the FED will not cut rates if news keeps coming in strong.
 
Quote from mbusch:

L 1521.50
SS 1520.25 (1.25 pts)
PT1 1525 (3.5 pts)
PT2 1540 (18.5 pts)
More...
Seems like I might have been a little early with this entry.:)

It has taken an hour to gain 2 points...

15m and 60m charts are now showing a decent-looking bullish continuation wedge.

If and when 1525.50 prints, I will raise my stop to break-even and be looking for higher.
 
equilibrium level is 1528.00 on 60 minute chart.


edit: tomm..FOMC minutes/GDP....key is bond market, if bond market continue to fall apart, then the stock market may be held back a little. The bond market is at recent lows till, the market has to move away and not keep pushing yields higher. Then it will be a greenlight for further gains.
 
Quote from mbusch:

L 1521.50
SS 1520.25 (1.25 pts)
PT1 1525 (3.5 pts)
PT2 1540 (18.5 pts)
More...
1521.50 ... a price so nice they've tested it twice. :mad:

EDIT: Stopped out for a 1.25 point loss. :(
 
Quote from volente_00:

I second Jack, and am not a newbie. If you wanna crap in a thread do it in your own. Perhaps start you own thread to argue in chit chat but this nonsense has nothing productive to offer to anyone.
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Perhaps English is not your first language. Get one of the others to translate my reply to Wareco into your native language.

Here is my chart for the morning.
 

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Aright, giving this a whirl...

Long at 1518.50
Stop at 1517.50

:edit: scratched that trade for a 1 tick profit... all momentum in other indicators is pointing down...
 
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