ES Journal Archive (2006 - 2008)

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Look at the bigger picture, this is going higher. Weak longs bailed yesterday. Today everyone is trying to fad the rallies. A good day to take this higher.


Quote from ammo:

sh 63.5 , 64 is res line on 15 min ,last 4 days,out 62.5
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Quote from ammo:

yesterdays bulls have to hold position for 10 days so no big sell off til apr 14,monday?
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went back and looked at daily chart and they also got long on 3/18, 4/1 was the first day they could sell and they got long again,this thing should rally into monday 4/14, the first day they can unload the stock they bought on 4/1,it may rally again from there, who knows, but they won't sell it before then
 
Markets just corrected for 3 days, I think volente pointed this out, now (today) last chance shorts (wrong) get on the train that is the leaving the station in the wrong direction. and reversal to upside can unfold

Pretty interesting to see the AH floor trader pivots today

Floor Trader pivots based on AH price action

R3 1372.00
R2 1367.00 (usually acts as a ceiling in the morning)
R1 1361.50
PP 1356.75
S1 1351.25 (happens to be RTH LOD)
S2 1346.50
S3 1341.00
 
Looking to take stab at fading ES up here off the 5-min div and 50% retrace... very counter-trend

:edit: got too greedy looking for a touch of 1370... damnit...

order to sell 67.75 stop at 68.75 is in...

order cancelled... frustrating
 
Interesting development so far as no one tried to push it down below 50 to test for stops.

The daily wedge is broken today and we just have the test of the bottom wedge trendline.

Hard to say what's next. :confused:
 
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