ES Journal Archive (2006 - 2008)

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Looks like they will grind them higher all day, classic bear market action, gap up huge and grind higher on one day, and then sell off all the gain slowly over the next 3-4 days.

Watch for more and more calls that we've seen the bottom as we grind higher all day.
 
bigger writedown at UBS prompts buying in financials. looks bullish to me

For anyone who cares,
the R2 level based on AH prices is 1356.75,

certainly starting to run out of some volume now, but usually after such extreme buying, bears caught short, bears who refused to swallow pride and cover on the upthrust, represent a floor for prices on retracements which usually means limited downside

R1 is 1347.75 (support)

chart support is a small ledge, 1348-1344. and if prices did top out with a DT on the 1min at 1354.75 then 44.75 represents rule of 10.

this info and a billion dollars would make me a millionaire
 
Quote from Lawrence Chan:

BOTs on long side will have to cover too.

Where's their average cost is the question - 1346 to 1348 so far.
More...

BOTs usually wait until the next day or the day after next to get out of their positions, they are in no rush, remember, BOTs don't have emotions so they don't feel the urge to take profits. :p
 
ge forming right shoulder on weekly,as long as we stay under 1361 ish, we're still in bear mrkt, til then ,bear mrkt rally,media's attempt to put up temporary outhouse, while the old one is being repaired
 
Once enough bids are gathered underneath the current price and above their cost - the BOTs will run the price down as fast as they can to lock in profits.
 
could someone out there (non-TradeStation users) please check ES Jun 08 prices to see what RTH close on a 5 min chart was as of 1615 hours (4:15pm ET) yesterday Monday March 31.
 
hi at 9:30 was 1350, last hour only 4 point rally for houses, they can't trade 1st hour, i would say distribution is a possibility
 
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