ES Journal Archive (2006 - 2008)

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Quote from Spectre2007:

it means the market can spring either way, at the current zone 1455-60 most everyone thinks the market will go down, the previous support is 1494, becomes resistance now.

at 1494 the market can bust through and run some major stops on shorts.

usually markets will touch those levels, since buy stops will be there too.
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agreed 0n that 94/95 zone as big R......that zone is shaping up as an ultimate sell with stops just over 1500......big R/R
 
most funds are already hedged on equity exposure.

it will take effort and leadership to break it to 1400.

very different from previous time, when hedge funds were caught in the arb program breakdowns.
 
bulls will be gunning to take out 84.75,yesterdays hi,to put in an outside day for role reversal...if they can....i see lo/mid 90`s as a conservative sell.

if we take out 71.50....i may start looking for a long entry up the target of 85
 
Not yet seeing bearish divergence on ESZ, so holding on to my 1/2-position long for now. I do not intend to hold it past the close, however, because of my overall bearish bias.

Raising my sell stop.
 
Quote from Spooz Top:

if we take out 71.50....i may start looking for a long entry up the target of 85 [/B]
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71.25 was the reactionary price......they can run it if they can get past that price.
 
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