ES Journal Archive (2006 - 2008)

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Quote from JimmyJam:

P.S. Officially, I've got a short bet on at 1549.00, PS @ 1552.00 (safely above the turn @ 1551.00). But we're at a crossroads here, and it may get blown, if so, I'll just take the next trade... there's nothing more dangerous than a Bull taking its dying breath.
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I'm out @ 1546.00, as support looks like it's coming in now.

In this case, it was a 1:1 R(isk):R,(eward) but I would've taken 2:1 or 1:3 - or greater, if that's what the trade offered.
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I don't know it now (will have to see it as it plays-out), but any buying today is likely to be the major players repositioning themselves for a drop ... time will tell us.

JJ
 
Quote from osorico:

Potential fill of Fridays gap... Good eyesight JJ. :)
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Thanks O, I always make a note of them when I see'em .. we've got a lot of gaps that need to be filled on the way back down :) .

JJ
 
Quote from JimmyJam:

Thanks O, I always make a note of them when I see'em .. we've got a lot of gaps that need to be filled on the way back down :) .

JJ
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I don't track them too far back for ES. YM is my gap-baby. :)

FTR: close-by YM unfilled gaps...
6/5/07+6/15/07 @13649-13727
6/13/07 @13438-13444

EDIT: slightly misleading is the inclusion of 6/5/07. Technically this gap filled 6/14/07. But the action on that fill, followed by the huge gap on 6/15/07 keeps it alive for me. 13650 area will likely become some sort of support, but it's big air beyond there.
 
Took a nice scalp long scalp on YM there out all at 56,60,62.

Looking to buy low 40's on the YM.

Expecting a grind up to test morning highs (RTH & GLOBEX).
 
Quote from JimmyJam:

For anyone who wants to gamble there (was) a long signal @ 1546.00.

Me, I say here comes the distribution baby!

JJ
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Indeed. I went long ES @ 1546.00, presently +2 on trade. I'm about to raise my protective stop to break-even. If we get above weak resistance about 1550.00, I will raise my stop again to 1549.00. If we get above strong resistance about 1553.50, I'll raise my stop again to 1552.00 and anticipate a stop-run to new contract highs. But as you can tell from my trailing stop approach, I'm nervous that the rally may fail at 1550.00 or 1553.50.

I'm also long NQ from 1967.00, presently +2 on trade. Overhead resistance around 1974.50. If we get above that, might have a nice upside move to new contract highs. Similarly nervous approach, trailing my stop up as the rally progresses.
 
I'm not taking any longs, the trend of the TRIN has been a slow upward one and that tells me we can start to fall easier than we can rally. I'm going to continue to look for short scalps at resistance on the NQ where the market gets ahead of itself and looks overbought and where AAPL direction doesn't coincide as long as the trend in TRINQ stays the same.
 
NYSE advance/decline ratio and advance/decline volume ratio are both dead neutral. Could go either way.

Bonds (not yields) rising from morning lows with a nice-looking buying tail that suggest more upside to go. Equities have been correlating closely with bonds in recent days.
 
Possible bullish HIKKAKE on 15m YM.

Yes, I play this pattern, but only in context with other TA.
Just thought I'd mention this particular sighting. :confused:

EDIT: further feedback... this follows a eariler 15m bullish HIKKAKE. THIS particular one is bumping on significant intraday (today only) 13745 level (significant meaning it can be treated as S/R). Possible formation of a bull flag at this time, too soon to tell.
 
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