ES Journal Archive (2006 - 2008)

[Spooz Top]

i`d like to see this 52 hold with a pop over 60 into a nice confluence zone above.

 

[BoyBrutus]

Quote from Spooz Top:

i`d like to see this 52 hold with a pop over 60 into a nice confluence zone above.

Looks like a lame bounce/reversal

If 1452 gives that leg is going to be huge. Just be ready to react, I know you always are ST.

 

[Wittgenstein]

Quote from JimmyJam:

OMFG, I didn't realize it was so late!

I still haven't had my morning coffee. :eek:

That's OK, guess I didn't need it.

JJ

P.S. She looks like she's hold'in folks.

It looks like Custers' last stand...

 

[Spooz Top]

Quote from BoyBrutus:

Looks like a lame bounce/reversal

If 1452 gives that leg is going to be huge. Just be ready to react, I know you always are ST.

sure am BB.......

 

[smilingsynic]

Quote from mbusch:

Since the low paint was 1552.00 and that was the exact september swing high, just imagine how many stops there are just BELOW 1552!

If it gets back there again, I would be surprised if it held.

There is a Wyckoff spring--or what Trader Vic called "2B", or what most simply call a false breakout--right at 52. Simply put, dip under support on high volume, and then a recovery. For NOW.

The trap door will not be sprung, however, until a close above 57.50. If there is a close above 57.50 that holds until the end of hour, look out, for that would be a reversal on the 60-minute charts.

Until then, I am waiting.

 

[Spooz Top]

retest of 57 was restest of prior 2B.........3min displaying small IHS

 

[Spooz Top]

If IHS develops ......it should take us to 62 measurment....or rule of 10

 

[tortoise]

Quote from smilingsynic:

If it gets back there again, I would be surprised if it held.

There is a Wyckoff spring--or what Trader Vic called "2B", or what most simply call a false breakout--right at 52. Simply put, dip under support on high volume, and then a recovery. For NOW.

The trap door will not be sprung, however, until a close above 57.50. If there is a close above 57.50 that holds until the end of hour, look out, for that would be a reversal on the 60-minute charts.

Until then, I am waiting.

why 57.50?

 

[smilingsynic]

Quote from tortoise:

why 57.50?

Swing high, made around 1:30 EST, representing resistance. The dip to 52 and the bounce back suggests no supply below 52, for now.

Note how all the buy stops went off around 3 PM. That it has gone down since then suggests no more demand, for now.

No supply + no demand = congestion.

 

[tortoise]

Quote from smilingsynic:

Swing high, made around 1:30 EST, representing resistance. The dip to 52 and the bounce back suggests no supply below 52, for now.

Note how all the buy stops went off around 3 PM. That it has gone down since then suggests no more demand, for now.

No supply + no demand = congestion.

excellent explanation. thanks...