ES Journal Archive (2006 - 2008)

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Its should go down, everyone seems to have the same view.

I would have expected larger volume as we declined today.
Makes me think this thing could recover.



Quote from saliva:

It's fair to say as a daytrader that it really doesn't make any difference whether this market goes up or down. But experience has also taught me that having a correct macro picture does help.
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ya i see it too... possible db in good support as well... will look to reenter long position on a break of 15min bar high

Buy stop 1316
 
Quote from gwac:

Its should go down, everyone seems to have the same view.

I would have expected larger volume as we declined today.
Makes me think this thing could recover.
More...
We're technically in the chop-zone, so I wouldn't add too much importance on the minor flip. It's the 2:15-2:30 (EST) movement that will get the ball rolling one way or the other.
 
i m with ya as well

I was looking to get full position long at 1310 but i will buy half my position here at 1313.75.

Edit (2:10 EST) First Target at 1319.75. I will move stop to BE on last contract if this fills.
 
Quote from gwac:

Its should go down, everyone seems to have the same view.

I would have expected larger volume as we declined today.
Makes me think this thing could recover.
More...


Heavy volume at the end of a down move is bullish, but average volume at what might appear to be the end of a down move is not bullish (it's not necessarily bearish either--I'd consider it a wash). Iow, there is no rush of buyers to pick up what the sellers are unloading. Buyers are waiting to get in lower.

Where are the buy programs today? Hard to have higher prices if the programs aren't involved.
 
Quote from apex82:

ya i see it too... possible db in good support as well... will look to reenter long position on a break of 15min bar high

Buy stop 1316
More...

filled

stop at 1308.75

first target in mid 1350's
 
I do not think we are near the end of the bear market, I just do not see todays down move as a start of something below 1300.

No sell enthusiasm.

Quote from smilingsynic:

Heavy volume at the end of a down move is bullish, but average volume at what might appear to be the end of a down move is not bullish (it's not necessarily bearish either--I'd consider it a wash). Iow, there is no rush of buyers to pick up what the sellers are unloading. Buyers are waiting to get in lower.

Where are the buy programs today? Hard to have higher prices if the programs aren't involved.
More...
 
We need a big stop run bellow 1310 and than strong move to up. Sorry Apex, it is not against you but I think too much stops are there the big boyz need them before move up.
 
no vol spike on that low... this long is not looking good im reducing position size to half

will add back on if we start breaking out
 
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