ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

When market gaps down, and then just sits there, instead of snapping back, that is bearish (at least acc to my own research over the years).
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Yeah, I think 1450 is possible in the next 10 days unless we see a reversal bar on the daily.
 
yeah the pattern isnt bullish yet.. usually a bottom is established from a rubberband snap back.

1512-1515 is too tempting for the bulls to raid the bears. Thats why the 50 day MA is dangerous since you will have repeated tests of it to confirm this move.
 
market recap:

usdjpy 118.90 -1.60
10 year yield 4.78%



oil seems to be the market that hasn't been arbed yet. Buts its giving up its gains as time passes.
 
I hate down trend days like this: you go short, and then end up getting only small pieces of the move, since the market snaps back. And if you want to hold longer, you have to look out for big reversal bar rally (who knows if it is the o0-called "PPT") that will squash your short like the bug you feel you are (on days like this).

And even though those with a short bias today DO make money, most of us have IRAs and stuff. We don't short there, and those are getting beaten up on days like this (weeks like this).

Give me a smooth uptrending day any day. Soon, would be nice.
 
Market high today 1529.50
minus low of 1484.50

This is rule of 45
when market moves 45 points off high of day,
buy and holders go long toilet tissue.
 
just excesses being wound out, its healthy for the market. AAPL will hit 300 on the next up leg. Just stick with brandname tech, the market was becoming unhealthy in its rah rah mentality.

edit: working group must have convened.

edit: 1512-1515 ......................I don't get greedy on the short side.
 
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