ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
secondary to oil implications, the market can be trounced after the distributive period above... in 1420's..1400..
so the media can paint Oil as the excuse for the market to collapse back to 1300, by then Oil would have found a momentary peak...
leading equities to rebound..
the oil dynamic is new, and its overhanging effects are interesting in how it effects everyones trading models.
if you watch minute to minute fluctuations in oil and spooz, you will see they are inversely related...
so the media can paint Oil as the excuse for the market to collapse back to 1300, by then Oil would have found a momentary peak...
leading equities to rebound..
the oil dynamic is new, and its overhanging effects are interesting in how it effects everyones trading models.
if you watch minute to minute fluctuations in oil and spooz, you will see they are inversely related...
True. It did affect mine yesterday when we broke the 1400's. The bond market is selling off nicely. Perhaps this money will find a new home in stocks.
excellent observation JSSPMK.
quite possibly p/a is paid lip service only whilst we are inclined to pay attention to our own opinion first.
an example would be fib ratios.
there are those who proclaim that fib 50%
as great a man as fibonacci was, his ratios are merely the centres of price channels.
when the centre line of a dominant channel lines up with the top/bottom of a lesser channel, then you just might see price turn.
whether fib pre-dated trading is irrelevant.
all that is important is where the current price is, relevant to where it has been.
regards
f9
Would be interesting to see if ES goes to 1403 today.
- Status