ES Journal Archive (2006 - 2008)

[volente_00]

Quote from smilingsynic:

Actually, I was thinking more like the rule of 20 (10 X2).

On days following strongly down days (like Friday), the market on average retraces just over 50% of the move. A 50% retrace from Friday would put us at 1340, exactly 20 from weekend lows (right Avarus? ). 1340 is right over the 1338.50 pivot.

LOL, that was not meant for you, SS was short signal


so maybe 31 to 41 ?


You guys are bullish but I think if 35 holds you just might see 1310 today


:eek:

 

[mbusch]

Quote from smilingsynic:

A 50% retrace from Friday would put us at 1340, exactly 20 from weekend lows (right Avarus? ). 1340 is right over the 1338.50 pivot.

1338 has acted as support or resistance six times since late January. It's what Apex82 calls a DPTL. Looks like a good level to go short to me.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1816038>

 

[volente_00]

signal there for the bulls


but can they run with it ?

 

[smilingsynic]

Quote from mbusch:

1338 has acted as support or resistance six times since late January. It's what Apex82 calls a DPTL. Looks like a good level to go short to me.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1816038>

Welcome back.

 

[ammo]

conect 2/07 and 2/22 lows ..tl comes inat 32 for res and connect 2/15 and 2/22 lows trendline comes in at 1316, those would b my guess for support and res

 

[volente_00]

nice of them to run the rof10 long signal up 50% from the last move.

 

[Spectre2007]

equity risk picture keeps increasing...

1) oil > historical
2) gold/silver > historical
3) commodites > historical
4) inflation? = > historical
5) growth < historical


in this climate, a protracted deflationary period similar to Japan, and thats what the goals of the US government is, it fosters cheap financing of never ending US debt.

it means US interest rates will be low for a very long time, and overseas higher, since most of the inciting factors originated out of the US.

equity prices will meander down till they put in a consolidative bottom.

 

[Spectre2007]

notice the multi year sell signal...generally a good buffer built into the signal like a retest of a upward trendy before placing shorts is ideal..

 

[gwac]

News today has been okay, Paulson was pretty upbeat. Shorts
are going to need something or the range stays and we will grind higher.

Quote from Spectre2007:

notice the multi year sell signal...generally a good buffer built into the signal like a retest of a upward trendy before placing shorts is ideal..

 

[volente_00]

and another 10 point move

:eek: