ES Journal Archive (2006 - 2008)

Lawrence Chan · May 1, 2008

Key support resistance levels do not usually just touch.

They can get blown off before holding ...

mbusch · May 1, 2008

Since I have to go out now, and I'm not liking this action one bit, I've closed my short position from early this morning at a small loss. Too bad, I had great hopes for a waterfall today; it'll probably happen now that I'm out of the trade. :eek:

Kovacs · May 1, 2008

Quote from ganesh6:

I think Tuesday , Thursday .

Thanks.

Pholeuon · May 1, 2008

I though about turning for today.
I can not imagine we go through 200 EMA today.

Lawrence, can you search what happened if difference between NQ and ES was 1%?

Quote from Lawrence Chan:

Key support resistance levels do not usually just touch.

They can get blown off before holding ...

spersky · May 1, 2008

Still long from 1384.00. I still think we close +1400 today.

Lawrence Chan · May 1, 2008

Quote from Pholeuon:

I though about turning for today.
I can not imagine we go through 200 EMA today.

Lawrence, can you search what happened if difference between NQ and ES was 1%?

It happened a few times, and market sell off can follow.
e.g. a retreat of 0.5% of NQ would put ES in red already.

But, if NQ does not retreat at all, then runaway melt up can happen by end of day.

Key turning point is NOW.

blaster1 · May 1, 2008

Short 93.25, stop 94.50.

Edit: stopped -1.25

blaster1 · May 1, 2008

Short 95.50, stop 97.

blaster1 · May 1, 2008

Expected cash to hit 1395 before the turn south.

Lawrence Chan · May 1, 2008

Job's accomplished.

All shorter timeframe resistance levels are blow and it is now much harder for the market to go much lower from here.

Insurance policy against seasonal weaknesses.

Can that really work?