ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
If the mkt is going higher in the next several days, we will need to see a close higher than the mid point (74-75) today.
jayford,thats where the support #s came from, on a trend day the mp leaves a lot of nonretracement gaps ,so far there is one at 69 and another at 73-74, tommorrow is durable goods and new home sales #s,has to be some indecision about going short before the #s come out so 1260 could be the bottom if we get there
At first there is 20 day sma on daily.
At second there is 76.4% fibonacci for this decline starting from end of April.
At third it is round No and today is not stong trend day it will be bellow S2 and it will be 3d round no that we are crossing.
In principe we are heading higher in close future after my opinion therefore I do not expect to be broken that number.
Hope no one got caught averaging down intraday on this apparent trend day.
Morning was strongly bearish; lunchtime was firmly in congestion. Strong morning trend + lunchtime congestion =OFTEN continuation.
Trading this is difficult. There was no gap down today, which is usually a key part of the trend day. Lunchtime usually sees something of a rally, but this thing cannot get above S2 for long before it gets whacked like a mole on those games they used to have at Dorney Park when I was a kid.
Often times before a rally they'll just take them down, step by step, until they clear out all of the supply (accumulation). But lunchtime bids have been hit, and rallies sold (distribution).
No interest in buying this intraday until the market firmly trades above S2 and then mildly retraces. No interest in shorting until a failed rally under S2.
Morning was strongly bearish; lunchtime was firmly in congestion. Strong morning trend + lunchtime congestion =OFTEN continuation.
Trading this is difficult. There was no gap down today, which is usually a key part of the trend day. Lunchtime usually sees something of a rally, but this thing cannot get above S2 for long before it gets whacked like a mole on those games they used to have at Dorney Park when I was a kid.
Often times before a rally they'll just take them down, step by step, until they clear out all of the supply (accumulation). But lunchtime bids have been hit, and rallies sold (distribution).
No interest in buying this intraday until the market firmly trades above S2 and then mildly retraces. No interest in shorting until a failed rally under S2.
Anyone wants to step in buying 57 and below?
- Status