ES Journal Archive (2006 - 2008)

[Buy1Sell2]

I know it's early in the day and so this weekly chart could look much different at day's end. Interesting though--- Staying short for now.

 

[Spooz Top]

those 80`s were gold in that confluence zone & were keepers.....as this is exactly what i was looking at & why i expected more downside.

Volente.....i don`t see anything regarding an IHS on any time frame...all sessions or otherwise???......i do see a 2B @58 though.

 

[Buy1Sell2]

Very very early in the Month of November, but the Monthly chart deserves watching here.

 

[Buy1Sell2]

I will be away the rest of the day. Good trading to all who opine here (or lurk)

 

[mbusch]

Quote from Buy1Sell2:

Very very early in the Month of November, but the Monthly chart deserves watching here.

Indeed it does. Bearish divergence of the sort we have not seen since 1999. I believe that this may indicate that we have already begun the multi-year secular bear market that I've commented upon previously.

That does not mean that we won't have a massive end-of-year rally that retests the all-time highs. That may well happen. What it does mean (if my analysis is correct) is that any such retest will most likely fail.

The last secular bear market lasted two years and took SPX from 1550 to 770, a loss of about 50%. We could well be looking at a scenario like that just starting to unfold.

We now resume our regular (short-term) programming.

 

[mbusch]

I am seeing short-term bullish divergence here. I believe we go up from here (1454).

 

[Spectre2007]

trendy test, buy stop removed.

 

[StockyIrishman]

do we make it into the 60's for long b4 continuing the 930 selloff? 32 in the cards today.

 

[Spectre2007]

cross

 

[tommymoose]

Quote from opt789:

Put your chart on log scale and that trendline does not fit.
The bounce, imo, was a combination of everyone looking for a bounce at -10% and the fed easing the next day was leaked.

Is there an issue if a trendline doesn't fit on a log scale? I always use linear charts.

I think its safe to say that it (and any huge market move) was a combination of all of these things. Early buyers of March support + -10% + TL = massive V-bottom.