ES Journal Archive (2006 - 2008)

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Makes me think about Spectre's comments about the concerted effort to shake out weak longs before the next push up. Or was that you Apex that said that, can't remember, seems to be happening no matter what:p
 
Quote from Sponger:

Apex, what was your next level below 1514 - we are going down fast
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Anywhere from 1526-1514 probabilities call for another leg up to new all time highs. However, I dont like to trade with that wide of stops so I have to narrow down my entry levels and manage my risk. The low at 1520 could be it... its right at my second zone, however I have to wait for the optimal entry and that would be at 1514-1516
 
Thanks Apex - also want to say thanks for posting your charts, they're a great learning tool for seeing how price reacts at the various S/R levels.
 
Quote from Sponger:

Thanks Apex - also want to say thanks for posting your charts, they're a great learning tool for seeing how price reacts at the various S/R levels.
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Personally I have learnt just 1 thing and that is Apex is great at finding S/R levels and a great all round technical trader, apart from that I have no idea how the hell he establishes S/R.
 
Quote from Spectre2007:

1490-1480 next support level for ES. Didn't close up in a positive fashion today.
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Yes. I didn't post intraday levels today because of this... I had to go back 35 RTH sessions to get "significant" downside levels for ES (and NQ too btw).

The intraday levels in ES between 1523 and 1487 are mostly meaningless, based on historic trading this time through. At best, areas with a concentration of minor levels might provide some degree of s/r, as what has been seen 1515-20 zone. But the low end of that particular concentration has been challenged and thus weakened even further. FWIW, 1507-11 provides another concentration of minor levels.

For NQ levels between 1907 and 1849 should be treated similarly.

Mind you I am not a bear (regardless of my ET handle), nor a bull.

Trade what you see, not what you think.
Osorico :)
 
institutions are probably loading up on spooz calls, using the sentiment to get cheap prices.

the FOMC pretty much collars the trade, with minimal downside pressure left.

I see the equity market rallying back to near the highs as the time ticks away to FOMC.

edit: I'm long the sep contract, I will keep adding till FOMC.
 
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