ES Journal Archive (2006 - 2008)

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We need to start doing our nightly anaylsis together....I use goto meeting to show things to clients at times. It's uncanny how close our entries are a lot of the time.
 
Some resistance here at 1405, which is a minor trendline. If it goes higher (and it looks that way), my next target is a major trendline at about 1411. I presently have a sell order just below that.

If it violates 1411 to the upside, I'd be looking for a re-test of 1422 (and I'd probably enter a sell order about 1420).

Sounds like our targets are pretty close to being in agreement.
 
1400 is a very important level. to test it in very thin after hr s trading and not at least re visit it tommorrow would be very unusual. but in these wild markets anythings possible
 
Our super-slo-mo rally from 1400 topped out at 1407.75, then retraced exactly 50% to 1404.00. It should go up from here (and is painting 1407 as I type this). Price extension calculation puts the next target at 1411.75, a couple of ticks above the target based on my trendline.

Moving my sell stop up to 1403.50 (two ticks below the 50% retracement point) and hitting the sack. I've entered a limit sell order for half my long position just below 1411.

I think it's a 50-50 proposition whether it will reverse at 1411-12 or penetrate it to the upside and re-test 1422.
 
I'm out of this trade at 1406.00 for +5.25. Price action not behaving well here, but not comforable switching to short either. Flat until the AM.
 
I will be looking to get long on the open. Most world/macro markets, are back to my value levels.

1) FOREX usdjpy in 115 handle gbp in 1.98 handle
2) BONDS still expected to break to the upside, stops are giving way. looking for 4.4% minimum on 10 year.
3) Oil, hurricane season, looks to be shaping up well.
4) GOLD, asset deflation continues to erode this market.
5) Equities, my levels below the 200/250 day MA are there. Markets should oscillate 20-30 points below the MA's, and on a historical basis, thats what they do for most declines.

Speculative cycles have calmed down, and the next one should start soon. Whats unavoidable is that the FED will start to ease in the future at some point. And this implies, erosion in the dollar. Inflation on the whole is in check, deflation risks outweigh at the moment globally.
 
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