ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

Breakout confirmed. Close call, though.

< 52 = stop
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Stopped out at be at 54.5 and short from 52. Tighten stop at 46,25.

EDIT: Looking for 40.50. Really tighten there.

EDIT: stop moved to 46.

EDIT: Out. 46.
 
I don't see breakouts pushing too high on balanced days like this. Im still looking for a retrace to 1320 before we head any higher.

Looks like they trapped the bulls here, examination of volume on 1min chart will clearly show that some sort of retrace at 57.

Got short in 55-56 zone - holding one unit for homerun - very unlikely however.
 
Quote from Mins:

I don't see breakouts pushing too high on balanced days like this. Im still looking for a retrace to 1320 before we head any higher.

Looks like they trapped the bulls here, examination of volume on 1min chart will clearly show that some sort of retrace at 57.
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Huge volume on 1-minute chart at key support and resistance (daily high and low are most important, imo) is always the tip off to me.

It's either going to be a successful breakout, or, if that fails, a high probability fade. Yin. Yang.

High volume = high participation = fuel for move.
 
Quote from smilingsynic:

Huge volume on 1-minute chart at key support and resistance (daily high and low are most important, imo) is always the tip off to me.

It's either going to be a successful breakout, or, if that fails, a high probability fade. Ying. Yang.

High volume = high participation = fuel for move.
More...

I agree, i love using volume analysis on balanced days because of the high probability or reversion to the mean.

First supply was tipped off at 14:25pm and confirmation at high of day.

Imo it very rare to be a huge breakout on days like these without some sort of news announcement.
 
The upper trendline is intact, I need to see a break of $1340.00 on the cash to get bearish. No one answered my question about beta. What stock would you say best represents the beta of the overall stock market. Meaning gm, gs, rimm, aapl etc. Just curious about opinions.
 
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