ES Journal Archive (2006 - 2008)

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Quote from osorico:

ES has been acting like the leader for about 2 weeks now. It is NOT the leader, but it is the prop for the YM, imo. Ultimately, until the Fed action becomes a known commodity, how goes NQ and ER, goes ES and YM, just less exaggerated.

jmho
Osorico
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Perfect example of this take...
All cash markets, and all futes other than YM have put in fresh intraday lows. YM is being propped by ES. The market leaders in order are, NQ, ER, ES, YM. Been this way for about 2 weeks. YM refusal to track DJIA(cash) is worth noting... clearly the laggard follower. When she dumps it will signal the change of leadership. Not until Fed action is known, imo. Until then, have fun, play both sides, and stay safe.

Osorico
 
Quote from JimmyJam:

OMG, do we know this guy? :D

Saxon22, is that you?

Holy Sh*t! ... glad to hear it man, glad to hear it.
***
Believe it or not, the uptrend remains intact, though for how long, I don't know.

JJ
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I have made my share of mistakes (and there are plenty more ahead I am sure) , but thanks to you and other fine traders and decent human beings that frequent this thread, I am learning fast. Better to make $200 a pop than staying up all night watching my position being at - 10K.
 
Quote from HolyGrail:

We should be headed to 1483.
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Any reason for 1483?
I see a 38.2% retracement from recent high 1504.25 and recent low 1453.50 at about 1484.75 and some support at 1484.25 from Wed's swing low and Thur's pre open low.
 
chart pattern is sucking in naive preemptive shorts... lets see how it would feel being short going into FED meeting.


short it baby..short...................
 
Of course there are no guarantees, but normally when the second wave down exceeds the last pivot point you will get a full 100% retracement. It may take awhile, but it normally gets there. Now if it comes back and exceeds the previous pivot, then all bets are off.
 

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