ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

I will short today at 1518.50 on a stop. I will keep raising that entry stop if the market runs higher.--
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that's right about where the last buying wave came in last friday, and where i'm expecting to see support today (even as i write).

L @ 1519.75, PS @ 1517.75

JJ
 

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Quote from JimmyJam:

that's right about where the last buying wave came in last friday, and where i'm expecting to see support today (even as i write).

L @ 1519.75, PS @ 1517.75

JJ
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C @ 1521.75, +2pts, time to get some coffee.

JJ
 
I know some of you watch (and trade) the ER2 as well as the ES. Sometimes they move in lock step while it seems at times they move in opposite directions. Anyone know the correlation between the 2 contracts or where I can find, or derive the data?
 
Jaxon, can't you just devide 1 by the other, if you get a flat-line, they're moving in percentage lock-step. Or is this too simple? By just deviding and plotting the line, I generally see that outperformance by the er2 is usually good for both.


I've never attached a chart before where are the instructions?
 
Here's a chart showing the basic fib retracement of the downtrend.

I only look at the current intra-day frame to key off my trades though, so I've played the uptrend and sitting pat with da profit.

JJ
 

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JJ,
in your chart with fib retracements for the recent sell-off, you did not use the extreme price low of late Thursday, 6/7 (at least that's the way it looks) is there a reason for this?
 
Quote from vertigo3:

JJ,
in your chart with fib retracements for the recent sell-off, you did not use the extreme price low of late Thursday, 6/7 (at least that's the way it looks) is there a reason for this?
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Yes, but it is subjective.

That sell-off showed strong capitulation selling by the extremely "weak hands" in the market ... panic selling at the bottom.

I just discounted it as such, that's all (it didn't matter to me).

JJ

P.S. Isn't that a great bullish H&S pattern there, that predated the latest buying spree?
 
Just an observation....

bear flags present on all 15m charts of ALL US indexes. ES is "best" imo, but be leary of YM, ER, and NQ following ES making fresh HOD. If those indexes fail to make fresh HOD, following ES, the pattern is confirmed.

Don't be trigger happy on this one.
Osorico :)
 
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