ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Figure out the correlation. Last time this occurred (Blue under Red) we had one heck of a bull run. The next one is being built.

I've even mentioned it(Blue Line) in the forum a few times.

Wall street is on sale and the smart money is setting this up to take advantage of it from every end.
 
I have to believe its not as easy as a double bottom. You've got all the buyers with their sell stops clustered under 1255 thinking that the selling must be over since BSC deal happened and we didn't crash. Regardless, I'll just look at the technicals here (theyre right much more often!). This is what I'm thinking.

I covered 1/3 my short at ~1255 ESH8 level this morning as that was my initial target and I have my stop on the last 2/3 at a little over 1300. The market is oversold and definitely in a position to go higher but hopefully this will provide enough resistance.

However, if they break todays lows I'm watching 1235-1239 closely to see signs of life. May be a good place to cover and go long.
 

Attachments

Quote from Buy1Sell2:

Staying short here. Looking for more downside. If I don't receive it, I will be out with at least 140 points profit on 2 commissions. :)
More...

Still nailing it Ishmael, nice one!!!

I have now pretty much abandoned active day trading, only trade major levels nowadays using just price & money management.

Apex, you around?
 
this turned out to be a terrible prediction!

Quote from bidask:

my little evil prediction for today: equity indices will really start tanking at around 3:00pm EST when the bond market closes.

we shall see... :D
More...
 
Status
Not open for further replies.
Back
Top