ES Journal Archive (2006 - 2008)

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Quote from opt789:

I think reasonable debate is healthy, but it is meaningless when someone says that another poster is wrong, but then adds nothing by failing to show why it is wrong and what their beliefs are. I am sure it is nice to sound erudite and enigmatic by putting down someone else and then adding no useful information or details of your own, but it is hardly a worthwhile exercise.

As for the ES, 1370 held as many were expecting it to so we are still in a trading range. The NQ continues to outperform the ES; the ES should be 20 points higher if it were making an attempt to keep up, but the NQ is more and more becoming just a proxy for Apple and a few other stocks and is not really an index anymore. The markets are continuing to ignore bad news and are currently keying off oil more than anything. With support at 1370 and some resistance at around 1400, we are dead in the middle at 1385, so it may be waiting for oil to tell it what to do. Durable Goods at 8:30 tomorrow will move the markets some, but it is a volatile number. There is some Fed speak coming up, but at this point they just seem to be saying we're done for awhile.
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Thanks for reminding me about the durables.
 
Quote from MandelbrotSet:

Option 1. Drop to 1378's, it holds, and we move up to the early 1390's.

Option 2. Move up to 1395 or so off the Open, meets resistance and trades back down to the 1375's.

I'm a multi-time frame scalper, so either way it goes, I don't care. I'll be positioned with the dominant trend.
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Looks like we're going to get the drop on the graveyard shift.

Looking for 1378 to hold and the market to trade back up to the 1400's ... maybe not tomorrow, but certainly over the next couple'a days.
 
Quote from tommymoose:



I'm going to ignore ES chart since its irregular... things aren't always textbook. NQ is much nicer looking and I'll treat the chart as its own. Here are the resistance zones I have for NQ -
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Dont you mean that ES appears irregular to you, whereas as the NQ is offering patterns that you can recognise.

regards
f9
 
Quote from JSSPMK:

YM very bearish on 15 triple D
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I was Long the ES when you made this call ... saw what you were looking at, and figured it was probably a pause that refreshes.

Just a thought ... have you ever thought of running two different systems at the same time?
 
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