ES Journal Archive (2006 - 2008)

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Quote from apex82:

might just be me... but I dont see the short here... this market looks it building up some momentum..
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I don't see one yet, either. We've hit the top of my 3-point resistance zone, bounced back down to the bottom of the zone, but no reversal bar yet to confirm a turn. Could go either way. If it breaks up, It'll probably go up another 10 points. If down, probably 15-20 points.

EDIT: Starting to look like it could be down....

EDIT: My remaining shorts came within a whisker of stopping out, but didn't. Still short.
 
Quote from mbusch:

I don't see one yet, either. We've hit the top of my 3-point resistance zone, bounced back down to the bottom of the zone, but no reversal bar yet to confirm a turn. Could go either way. If it breaks up, It'll probably go up another 10 points. If down, probably 15-20 points.

EDIT: Starting to look like it could be down....

EDIT: My remaining shorts came within a whisker of stopping out, but didn't. Still short.
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I am getting interested in a long if we can make one mofre low into 1512.50 area... but may not get it.... I advise taking some off here.. 70% probability we go to one more high
 
... yesterday's bar provides positive divergence on the daily chart for
.... YM, ER, ES
.... a signal that the tide may be turning over the short--term
...noob here...
 
Quote from mbusch:

70%? I love it!:)
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I have stats on about 3,000 of these situtations and its about 70% so take it for what its worth :)

Sure is having trouble though..
 
Congestion at the top of the day's range usually suggests impending breakout to the upside. I was short for a brief time at 16.25 but covered when downside simply did not materialize. Looking to buy failed breakdowns (springs) in the 12-13 area.

EDIT: In at 13.25. Small position; will add if trend develops.
 
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