ES Journal Archive (2006 - 2008)

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Quote from Spectre2007:

remember we were talking about selling anything higher then 1540 on june contract =) over non farm payrolls weekend.
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It goes down faster than it goes up doesnt it?
 
Quote from wave:

05-16-07 04:16 PM

Buying area 1503-1497
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Better late than never.
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and if I could tell you if it was going to hold, I wouldn't be here chatting with you.
 
yeah, in any market the countertrend is usually sharper then the overall trend.

most markets behave like this. The time spent in the countertrend is extremely short, (harvesting), the complacency that gets built up from pavlovian training of the masses. Then another cyclical trend starts.

Overall if the world isnt ending, the equity markets spend most of their time with a upward bias. Now the institutions have immense liquidity to load up on positions before another upside attempt. If they load up too fast, then the price slippage to the upside is too sharp. So they do it in a measured fashion.
 
Quote from JSSPMK:

Thanks for the info Steve.

I made a chart also, I favor histogram big time for daily/weekly analyses. Apart from a possible divergence on that weekly chart, volume has also been declining steadily over the last few weeks. A possible near term target of 20 moving average/50% retrace seems likely in my opinion. What do you think?
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<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1488165>
 
This is it guys... the buy of the year! Any move below 1508... we could be in for a serious serious decline A great place to be positioned long for a move to new highs with minimal risk

I am loading up on calls and selling put spreads any move below and I will be out faster then you can blink an eye

I suggest waiting for a retest of the low and get in on the next reversal bar on the 5 min chart.
 
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