ES Journal Archive (2006 - 2008)

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Quote from mbusch:

L 1542.75
PS 1541.25 (1.5 pts)
PT1 1548.50 (5.75 pts)
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Trailing stop hit, out of trade at 1544.50 for +1.75
Price action seems weak and undecided. Trading range between support at 1542 and resistance at 1550.
I have to go out, so done for the day.
 
The "silence" on the page today is deafening.

Does anybody think that maybe prices have to retest yesterday's low of 1540.50.

Right now, it looks like an inverted head and shoulders is in place on the 2min chart. If the recent low is not undercut (if there is no test of the RTH low from yesterday), then a move above 1546.00 might force frustrated intradAy bears into some buying to cover shorts laid in over the past 90 minutes.

These are just some thoughts to give people something to do since a shroud of silence seems to have descended on the regular commentors.
 
Quote from JimmyJam:

This drop is meant to be bought.

L @ 1545.00, PS @ 1542.00

JJ
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I'm stopped-out here, indices appear to be breaking to the downside, but I think it's trying to find a bottom.

Time, and price action, will tell.

JJ
 
I was looking at the price and volume action from 12:15 to 12:45 and wondering if osorico would have labeled that a bear flag. I like to see lower volume in a flag formation, but when it comes to lunch-time on the east coast, it is difficult to put much faith in interpretting low volume as a sign of anything other than lack of particpants.

1537.75 is a .272 extension (fib) down from yesterday's range and that spawn a counter move, but , really, you look at the chart and its negative.
 
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