ES Journal Archive (2006 - 2008)

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Ignoring the news (which I try hard to do), I'm a little confused about direction here, but my best guess is that the market action for the past hour should be thought of as a pennant continuation formation, and that we can look for an upside break later today for a run at new contract highs. I'm still flat ES, but my inclination is to look for a long entry.

Of course, if I was smart (something I've never claimed to be), I'd just fold up my tent for the day and call it a great trading day...

EDIT: Told you I wasn't smart:

L 1562.50
SS 1560.50 (2 points)
PT new contract highs
 
just say it isnt so...isn't this market a bull market?!!


edit: looks like another tail is being printed here. INTC is usually pretty conservative in their guidance. Except for the oil companies I don't see many people buying new comps in the future.

edit: someone is slamming the tic down pretty hard.. as it tries to take a breath...kill it ..kill it...
 
Quote from mbusch:

L 1562.50
SS 1560.50 (2 points)
PT new contract highs
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Jumped the gun. Not a good entry. My pennant just became a flag.

Yipes: Just lost power. Thank goodness for the UPS and diesel backup generator. Is this God talking to me?

Should'a stayed flat. :(
 
Quote from mbusch:

Jumped the gun. Not a good entry. My pennant just became a flag.

Yipes: Just lost power. Thank goodness for the UPS and diesel backup generator. Is this God talking to me?

Should'a stayed flat. :(
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Closed out my long at breakeven. I'll wait for a better entry. Maybe I should go make that omelet now...
 
i`ve not put on a trade since 7/12,being that i`m waiting for a range to build out here with set parameters or a strong sell signal.....one or the other.....a rangy market is where my bread & butter lies & am not a strong breakout trader & realize my strengths & weaknesses.

what i`m anticipating here is the Es trade above yesterdays hi...making a higher hi...68/69 met by selling till EOD.....YM & dow/cash have put their HH`s in already,setting them up.
Es obviously weaker of the 3 & may have trouble but looking for a nice selling tail off the HH on ES.....15/30 min. should tip us off.
 
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