ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
I thought I would end the night with posting a little long term analysis.
I posted this chart on the spx cash sometime back in feb or march... Everything still looks good and we even have more confluence coming into the zone then before. It is a rather large zone.. 1588-1608 (20pts) but for a move of 200 points+ to the downside you cant really be picky for a 1 pt zone.... I dont like to predict markets.. but rather anticipate and be ready to act immediately if a zone is holding. We should all be praying everynight that the spx gets up to these levels before rolling over. This would be the best possible scenario of catching a 10%+ decline with minimal risk. I can be a contratrian at times... but wouldnt it be sweet to hit the zone during the most bullish time of the year the past 5 years (Oct-December), while making new all time highs in all index's. In my opinion... it would not stop falling once it got started....
I posted this chart on the spx cash sometime back in feb or march... Everything still looks good and we even have more confluence coming into the zone then before. It is a rather large zone.. 1588-1608 (20pts) but for a move of 200 points+ to the downside you cant really be picky for a 1 pt zone.... I dont like to predict markets.. but rather anticipate and be ready to act immediately if a zone is holding. We should all be praying everynight that the spx gets up to these levels before rolling over. This would be the best possible scenario of catching a 10%+ decline with minimal risk. I can be a contratrian at times... but wouldnt it be sweet to hit the zone during the most bullish time of the year the past 5 years (Oct-December), while making new all time highs in all index's. In my opinion... it would not stop falling once it got started....
ES levels for tomorrow.
Support was hit right at the close
1534.50-1533.50 (any move below here and we will most likely test july 5th lows and move lower)- If it can hold this tomorrow very good odds of getting to the main resistance zone
Resistance 1540.50-1542.50(critical zone, was tested premarket last night and held strong) If broken to the upside would be patient on sidelines or buy the pullbacks.
Here is the visual...
Support was hit right at the close
1534.50-1533.50 (any move below here and we will most likely test july 5th lows and move lower)- If it can hold this tomorrow very good odds of getting to the main resistance zone
Resistance 1540.50-1542.50(critical zone, was tested premarket last night and held strong) If broken to the upside would be patient on sidelines or buy the pullbacks.
Here is the visual...
sell stop hit 35
buy at 30
ts
35
buy stop 34
sell 35
buy at 30
ts
35
buy stop 34
sell 35
sell stop 33 buy at 30
should I take my rally hat off?!!, I thought it was zero risk friday.
lot of people who are long are expecting this jobs report to save them.
should I take my rally hat off?!!, I thought it was zero risk friday.
lot of people who are long are expecting this jobs report to save them.
buy stop 36 sell at 38
The support held premarket and moved to a new high just missing the resistance zone. It is clear the sellers mean business in that area. However, I want to be looking for longs around 1533 until that area is taken out in RTH. The support has already been used premarket therefore reducing its validity.
Stepping in and taking a small position long at 1533.50 stop at 1532.
target 1 1538
target 2 1540
target 3 trailed
still long unit 3 from yesterday with Breakeven stop from yesterday at 1530.
Stepping in and taking a small position long at 1533.50 stop at 1532.
target 1 1538
target 2 1540
target 3 trailed
still long unit 3 from yesterday with Breakeven stop from yesterday at 1530.
- Status