ES Journal Archive (2006 - 2008)

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Let me point out that INDU daily is in a wedge & all indicators indicate (LOL) oversold conditions. No retracement for how long now? I think come Friday we just might retrace to 23.6% fibs if not higher, short covering has, can have, a lot of pace.
 
fib level 61.8

1260 to 1200.75 then back up

1230 area is the 50, that is why that level is so hard to get through.


Quote from riskymove:




If I may ask, just curious what is significant about 1238? Just curious since several have mentioned.

Thanks!
 
if we can get through 1230

1235 to 1238 should come quickly.




Quote from gwac:

fib level 61.8

1260 to 1200.75 then back up

1230 area is the 50, that is why that level is so hard to get through.
 
Quote from gobar:

wave do still think we have 14 more pts to the upside?

gobar, if you positioned yourself to get long towards the 19 area,
you should have your 14pts in a few. 1244 still target.
 
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