ES Journal Archive (2006 - 2008)

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Quote from Spectre2007:

markets crash from the highs, and grind down to make new lows...

I expect 1600 and higher before a pivotal crash.
More...

You seem to have a lot of expectations mate, do you ever get frustrated?
 
To me situation looks like:
Market was falling down Wednesday and Thursday it turned up - like everybody expected for bigger leg up. Everybody - in equities - went long on Wednesday session end and added during Thursday. On Friday it went down and shaked everybody out.
Nobody went long on Friday session end - such day and weekend , imagine.
To complete the scenario we need gap up big on Monday - so the weak hands equities trader will not have safe position and swing trades.
It looked to me that there was no panic, no enough attempts rise on Friday.
I think we will get bigger bounce during this week.

If this scenario will not happen than nothing will help this market keep up.
 
couple of gaps on the hour chart that need to be filled...feel like we reach about 1352 this week and then smooth sailing back down towards 1250 to retest some lows
 
Week of June 23 - June 27
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Jun 24 10:00 Consumer Confidence Jun 57.0 57.0 57.2
Jun 25 08:30 Durable Orders May 0.3% 0.0% -0.5%
Jun 25 10:00 New Home Sales May 520K 510K 526K
Jun 25 10:30 Crude Inventories 06/21 NA NA -1242K
Jun 25 14:15 FOMC Policy Statement
Jun 26 08:30 Chain Deflator-Final Q1 2.6% 2.6% 2.6%
Jun 26 08:30 GDP-Final Q1 1.0% 1.0% 0.9%
Jun 26 08:30 Initial Claims 06/21 NA NA 381K
Jun 26 10:00 Existing Home Sales May 5.05M 4.96M 4.89M
Jun 27 08:30 Personal Income May 0.4% 0.4% 0.2%
Jun 27 08:30 Personal Spending May 0.7% 0.7% 0.2%
Jun 27 08:30 PCE Core Inflation May 0.2% 0.2% 0.1%
 
Looking only from the short side today. I will not trade until I see it. This means that I may not trade at all today. That's ok! Good fortune to all--
 
NQ overnight does not support the bullish scenario in ES overnight.

When European mkts are closed after 11-12 ET, we may start to see weaknesses all across.
 
I think we go higher. Doesn't seem to be much enthusiasm to the downside like we had earlier this year. This "crash" doesn't even show up on a monthly chart of the DOW-30.

Good trading to all.
 
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