ES Journal Archive (2006 - 2008)

[saliva]

Quote from wareco:

What is the ES all-time high? I show it as 1574.25 on 3/30/00. Is that correct?

On a non-adjusted basis. However, on an adjusted continuous price chart, we're still far below the all-time high. But as a short term trader, does it matter?

 

[wareco]

Quote from saliva:

On a non-adjusted basis. However, on an adjusted continuous price chart, we're still far below the all-time high. But as a short term trader, does it matter?

Nope. It's not going to make me money one way or the other. Just curious.

 

[mbusch]

Have a nice 3-day weekend, everybody! I'm out of here.

I won't be trading much next week because Monday's a holiday and I'll be away Thursday and Friday. Good trading, all!

 

[kinggyppo]

Quote from kinggyppo:

updated chart.

chart. $1571.50 hit. next target $1600.00. We may back off from here but plenty of room to enter long again, Have a great weekend all.

 

[mbusch]

For your 3-day-weekend enjoyment, here is my "big picture" chart of ES, once again showing that we are very near completion of a fifth wave up of a fifth wave up since the Fed discount rate cut. My intermediate measured move target is shown (1585).

While we certainly could overshoot this target in the irrational exuberance that often accompanies fifth wave climaxes, we should then be looking at a very large downmove (assuming my wave count is correct and Mr. Dow and Mr. Elliott were right).

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1631489 width=600>

Click on link below for full-size chart.

 

[Lucrum]

Quote from mbusch:

For your 3-day-weekend enjoyment, ...

Is the market closed Monday?

There are a few things closed but unless I'm reading it wrong NYSE, Globex and eCBOT equities appear to be open for regular hours Monday.




http://www.nyse.com/about/newsevents/1176373643795.html?sa_campaign=/internal_ads/callouts/holidays
http://www.cme.com/trading/res/te/2007columbus_day.html
http://www.cbot.com/cbot/pub/page/0,3181,1029,00.html#cd

 

[elovemer]

...optioncoach...... are you still strategizing a down move with options play ?
...... is this chart the ascending wedge you were speaking of ?

.... B1S2 ... do you see an ascending wedge pattern at play here on the daily chart ?

thanks

 

[El OchoCinco]

The wedge got turned up sharply on the FED rate cut day which kind of destroyed the pretiness of the pattern. From that day going forward you can say it is sharply pointing higher but for me it is not the same. The move was a breakout and the short-term trend looks still upwards from Fed day unless we get a significant turnover and so far all we have had is nice green bars and short little red bars.

 

[OldTrader]

Quote from mbusch:

If you're nimble enough and trade what you see, that could be a wonderful scenario!

Remember those marvelous days before the Fed eased when you could trade three coast-to-coast moves a day?

However, on a Friday before a three-day weekend, I'm skeptical.

EDIT: I think the boys are back from lunch.

What 3-day weekend is this? I don't see a holiday Monday.

OldTrader

 

[mbusch]

Quote from OldTrader:

What 3-day weekend is this? I don't see a holiday Monday.

Monday is Columbus day, but it looks like I was wrong about the market being closed. It appears that banks are closed October 8th but the NYSE and CME are open. Sorry for the false alarm.