ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

No positions in ES, since I am having a hard time finding a sensible place to get long intraday before 2:15. Longer term, the trend for the moment remains down.
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Does this move look fishy to anyone else?

The more I analyze it, the more it looks like impulsive buying that will fade away soon after a Fed pop to the 1330's, if it gets that far.

The ten-year has been a safe haven, but it is trading close to the day's highs after filling the gap this morning (oops--new highs)

And the buy programs so far today have been pretty anemic.

I see no reason to risk hard-earned profits on ES for the moment. I'm keeping my bear gamma and looking to go long lower on the ES, but doubt that that will happen today.
 
I'm looking at 1314-1317 as the primary key level for the rest of the day, but am not taking any positions due to little confluence in this area. We've broken stronger areas below and had quite a bull run up to the current levels, but the multi-day trend is still down so far. If they take it up to 1316.50 and reverse on 5-min, I'd take a low-risk (2.50-3.00pt stop) short with a target around 1300-1301.
 
Quote from smilingsynic:

Does this move look fishy to anyone else?

The more I analyze it, the more it looks like impulsive buying that will fade away soon after a Fed pop to the 1330's, if it gets that far.

The ten-year has been a safe haven, but it is trading close to the day's highs after filling the gap this morning (oops--new highs)

And the buy programs so far today have been pretty anemic.

I see no reason to risk hard-earned profits on ES for the moment. I'm keeping my bear gamma and looking to go long lower on the ES, but doubt that that will happen today.
More...

I was expecting a dropoff from the 1314 level but that has not really occured. That being said I think we are going to gap lower from the Fed announcement.

I think the Fed is going to move 50 and not the 100 the market wants. The initial reaction will be wrong as the Fed needs to keep some ammo in case further easing is needed. The market will ultimately realize that a cut of 50 is the right move and we will rally from the gap lower.
 
man,are they gunning it.....lol

rule 10 x 6 just about complete......@ 17.75

that 11/13 zone only netted a 4 point scalp down to 09 depending on where you sold......i covered those sells early @ 10.25 as the PA has rig job written all over it.
 
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