ES Journal Archive (2006 - 2008)

[kinggyppo]

Here is a weekly candle chart of emini. Notice the wicks at the bottom showing the rejection of lower prices. This got me thinking about the grail technique of Linda Raschke. Some of the newer folks may benefit from this. Set stops as always.


http://www.hardrightedge.com/wizard/tl2.htm

 

[mbusch]

CNBC Alert: The Dow Dashes To 14,000
In less than three full months, the blue-chip index jumps from 13,000 to 14,000, rivaling the power moves of the late 1990s.
- Full Story
- Dow 30 Milestones
- S&P 500 Highlights
- Trillion Dollar Survey: Bullish On Stocks
- What Dow 14,000 Means

It means look out below! :eek:

CNBC Alert: Homebuilders Confidence Index Fell in July to Lowest Level in Over Six Years

It means look out above!

 

[kinggyppo]

grail article

 

[2006]

Dumped longs @ 60. Looking to see if 58 holds if it does, I'll go long and hold into the close.

 

[JSSPMK]

bear flag?

 

[mbusch]

Quote from 2006:

Dumped longs @ 60. Looking to see if 58 holds if it does, I'll go long and hold into the close.

I'd really prefer to see below 1557 (preferably below 1556) as an entry. The lows at 12:37 and 13:01 EDT didn't seem to have enough volume to be convincing (which might be expected at lunchtime). I'd like to see a low with high volume to enter long.

Might not happen, but it's what I'd like. So there.

I've had too good a trading day so far to risk screwing it up, so I'm resolved to be picky about entries. If I don't trade again until the close, I'll still have had a very fine day.

 

[2006]

Well I'd like to see SPX 500 to get long.

But we don't always get what we want

 

[mbusch]

Quote from JSSPMK:

bear flag?

Sure looks a lot like one, doesn't it? Maybe we'll get an entrypoint in the zone after all.

 

[mbusch]

Quote from 2006:

Well I'd like to see SPX 500 to get long.

Probably not this week.

 

[mbusch]

If I was scalping, I think I'd go short here.

Speaking of which, where's Oso?