ES Journal Archive (2006 - 2008)

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the only buyers would be the bigboys, but so far looks like they are interested in breaking levels.

Fridays on the close would be only prudent decision point, till then you wont know what the agenda is.

this builds up the rationale that earnings and valuations have come together and further market upside is just fluff engineering.
 
Quote from apex82:

If they think its ever going to cheap and buy it up today it will be here at 1547.50... still holding short for the big one though....
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Nice call Apex your feel for this level, was it Fib, Price action, volume or order flow?
 
Quote from Buy1Sell2:

Most likely this is not the top,
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But we sure have a doubletop in place with the added benefit of island reversal yesterday/today.... :)

P.S.: We also got 14K out of the way...
 
Quote from Pekelo:

The reason for that is because the futures dropped heavily in the 4-4:15 pm mins frame yesterday, thus they got out of sync...
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When exactly did anyone see the ES and SPY out of line? They both trade from 4 to 4:15.
 
Quote from BoyBrutus:

Nice call Apex your feel for this level, was it Fib, Price action, volume or order flow?
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all 4

structure(bullish wedge), volume spike on each of 3 lows, 3rd being the largest at a significant fib retracement. As well as option exp friday tend not to be range expansion days coupled with just reached a bit over the 10 ATR.
 

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Quote from Mins:

Im long since 1548, major counter trend move here :( .

Very low odds off success me thinks.
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Closing 1 unit out here at 1551, still long other 2 units.
 
Quote from apex82:

all 4

structure(bullish wedge), volume spike on each of 3 lows, 3rd being the largest at a significant fib retracement. As well as option exp friday tend not to be range expansion days coupled with just reached a bit over the 10 ATR.
More...

Good explanation, thanks :)
 
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