ES Journal Archive (2006 - 2008)

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I will stay short here. It's what I do. I wouldn't necessarily recommend just willy nilly taking a new short position, but my game plan is to always shoot for the homerun.
 
Quote from Spectre2007:

exits...
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..just shows who controls the market... :)

the ultimate goal may be to bring down the price of oil, by hitting equities...

notice GS, tried to call the top in the Oil market, but Oil tried to fade their call, then next bonds continued to inch up...

then late call by GS, downgrading..CITI...

basically they are using the correlations against the market...
 
watch for 20 point flips... meaning 20 point volatilities every couple days...

20 up 20 down...

:)

basically whichever move is going to occur, the move will take the least number of people with it as possible till a catalyst...
 

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Just an update on the higher level support for ES...

In the middle of the day it touched the outer end of the zone and rallied. It will be interesting to see what happens tomorrow. The most recent PA is not confirming the zone so its not as high rated as I would have liked.. however, it is still daily support.
 

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Quote from avarus:

ES currently exhibiting an accumulation type of operation.
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Cash index is right at the right shoulder of the head and shoulders bottom that was made back in late August.

For long term, I prefer the Nasdaq, which did NOT make a new low today (long February slightly itm QQQQ calls late this afternoon). Looking for new highs by the New Year.
 
Quote from smilingsynic:

Cash index is right at the right shoulder of the head and shoulders bottom that was made back in late August.
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I do not see how you find an inverted H&S in the Spooz cash on that timeframe. Where's the left shoulder? The March and August lows were at comparable levels in the 1370s. You can't have a H&S where the left shoulder and the head are at about the same price.

I would not characterize it as a double bottom, either, because the price action going into the March low was a long secular bull trend.

What I see on my daily cash chart is somewhat messy looking "M" top in the process of completing, with a mid-July high around 1555, a mid-August drop to 1370, and and mid-October high around 1576. A decline below 1370 (midpoint swing low of the "M") would confirm the topping formation. "M" tops are often followed by a failed retest (so-called "MA" tops), so I would be inclined to view any significant year-end rally in that context.
 
Quote from mbusch:

I do not see how you find an inverted H&S in the Spooz cash on that timeframe. Where's the left shoulder? The March and August lows were at comparable levels in the 1370s. You can't have a H&S where the left shoulder and the head are at about the same price.

I would not characterize it as a double bottom, either, because the price action going into the March low was a long secular bull trend.

What I see on my daily cash chart is somewhat msssy looking "M" top in the process of completing, with a mid-July high around 1555, a mid-August drop to 1370, and and mid-October high around 1576. A decline below 1370 (midpoint swing low of the "M") would confirm the topping formation. "M" tops are often followed by a failed retest (so-called "MA" tops), so I would be inclined to view any significant year-end rally in that context.
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The H and S to which I am referring was established over just one month--August. The low of the right shoulder was 1432.36 and was made on August 28; the left shoulder was made a few days into the month, on August 3, which closed at 1433.06; and the head ended at around 1370.

For the record, today the SPX closed at 1433.27.

Yes, I am bullish. In addition to the positions I got into after 3 today, I will be adding long gamma (GOOG, BIIB, SOHU, and DE) tomorrow.
 
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