ES Journal Archive (2006 - 2008)

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this is a tricky market man. im steppin back alittle. it looks like its going to pull back. then do the opposite, when in doubt stay out.
 
Quote from tomahawk:

Pekelo do you have any stats on the frequency of ADU's the day after ADD's? (I assume yesterday qualifies as an ADD in your book).
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Well, usually zero, but never say never. SDD (I call it Step Down Day, because the way the chart looks like) is almost never followed by an ADU...

Although today so far is a nice rally day, it hasn't followed the ADU timeline...Actually, I have to correct myself, there was a nice long entry after 11:10...

A classic SDD was last Thursday when the 2nd leg started right on schedule after 2pm...
 
Quote from learner2:

The 20 MA on the Daily ES chart is at 1253...on the Daily YM it's at 11285...perhaps that is also a factor here...
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1253.75 was last week's close, and 1254.50 was this week's open. Price often reverts back to the open and previous close, and this principle is evident on a daily, weekly, and monthly basis.

52.25 is R1, so, yes, there is a lot of resistance in the 52-55 area.
 
I appreciate this thread...have been following it for a while and find your observations and discussions helpful...at least those I can understand...:)
 
Agree but I think the real test will be the 62 to 63 area. This area was tough to break on the way up. We could not get through it on Friday after the better than expected economic data.

I would not be surprised to test it this afternoon.

Quote from smilingsynic:

1253.75 was last week's close, and 1254.50 was this week's open. Price often reverts back to the open and previous close, and this principle is evident on a daily, weekly, and monthly basis.

52.25 is R1, so, yes, there is a lot of resistance in the 52-55 area.
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