ES Journal Archive (2006 - 2008)

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Quote from RsX:

I'm watching 1326-1329 area closely - if we break it on 30m closing basis, I'd expect we go for a re-test of yesterday's lows, 1307-1311 area. That'd be a better long (in multi-day perspective) than 1326-1329 IMHO. It's one of the more likely scenarios for today.

If 1326-1329 holds, however.. It'd confirm multi-day trend shift and we could yet still see the week's midpoint - the 1356-1359 zone re-tested by todays end. Yesterday was the first uptrending day in this week, but the multiday trend remains down until Wed highs are broken.
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Agreed.

The question is, "Is the retest coming now or later?". From what I know about bear markets, I see it coming later, after one more run at 1400. But this action does not jump out as bullish either.

Playing small here, as I see little reason to commit either way. Frankly, I am an agnostic at this point.
 
same viewpoint as rsx... critical point here..

they are so close to 1300... just take it down already...

but ready to join the bullish side if any strength comes in for a move back up to 1360-1370
 
My longer term model is based on 3-day advance issues. It failed to go long yesterday.

If the market cannot stay at or above the 1340 region, it will take at least 1 more week to get another chance for a long signal again.
 
B1S2 or anyone else for that matter. Just curious what you guys see in wheat...

I see a massive confluence just above the market... I havent seen one like this in a long time expecting wheat to hit a brick wall and turn down for the next 6 months or longer...

STRONG monthly resistance overlapping weekly and daily all in a tight zone.
 
Canceling the 1327 MIT for now.. they will either break the 3-min downtrend and the pivot or if the recent lows are broken now, it could just cut through the zone.. Need to be more conservative about this long and look for more confirmation. Not feeling comfortable.
 
I just had a brief meet with a trader based at LSE & she basically has told me that general consensus on the exchange between traders is that markets are going to go "tits up"

Translation from English to American that means - markets to tank

:)

She wasn't referring to today, more of a Buy1Sell2's holding periods.
 
Quote from apex82:

B1S2 or anyone else for that matter. Just curious what you guys see in wheat...

I see a massive confluence just above the market... I havent seen one like this in a long time expecting wheat to hit a brick wall and turn down for the next 6 months or longer...

STRONG monthly resistance overlapping weekly and daily all in a tight zone.
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I am not planning on shorting Wheat until it breaches 876. We may get a signal prior to that. When it comes down, it will come down hard.
 
Quote from Buy1Sell2:

Quick reminder here of the weekly chart. (Monthly is in it's infancy for a short trade).
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looks like a major bottom formed 3 weeks ago.

Im anticipating higher prices from here on out.
 
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