ES Journal Archive (2006 - 2008)

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Quote from wave:

We had a classic wyckoff upthrust above 1420. Put on your diving suits, we've only just begun.
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But those old dead technical analysts didn't have MACD, RSI, Bloomberg terminals, moving averages, Level 2 quotes, and all of those essential "modern" tools. All they had was price action. What good does THAT do? :D
 
Quote from smilingsynic:

But those old dead technical analysts didn't have MACD, RSI, Bloomberg terminals, moving averages, Level 2 quotes, and all of those essential "modern" tools. All they had was price action. What good does THAT do? :D
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eets all krhop,if eets not scottish, it's krhop
 
even though we don't see apex82 here anymore, he left us a gem that really seems to have validity.

Quote from vertigo3:

calling for a huge move there, cowf, good luck on your call.

reminder.
back in Jan apex82 observed that markets that run-up into employment report often (usually) see weakness sometime in the week that follows.

It was true for the Jan employment report disseminated on Feb 2, followed by weakness M-T-W of following week.

price leading into Feb employment report (disseminated Mar 7) were not up, no signal.

prices ahead of Mar report (disseminated April 4) were up, next week saw lower prices.

This past week was employment report, prices appeared to me (thursday) to be up into the employment report.

"Markets are never wrong; opinions are." -J. L. Livermore
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Quote from volente_00:

anyone watching the IHS setting up on the longer chart ?


http://finance.yahoo.com/q/bc?s=^GSPC&t=6m


Here is how I think it can play out

To put in the right shoulder, this fails 1380 -1400

Then back down to ~1320

Then rally 1418 to test the 200 day, then 1468 -1480 later in the year.



Both current and further out option interest support this happening.
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Has cashed closed above 1418 yet ?


:eek:
 
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