ES Journal Archive (2006 - 2008)

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Quote from gwac:

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.
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60 is yesterday's high--that is next in the line of resistance.
 
Quote from Pekelo:

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...
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Thanks.

Significant resistance as I see it around 56.75 - 57.25 ... RTH r20 / channel top on 5-day / and back to 38% after the 62% retrace of the 7/16 to 7/23 rally.
 
Quote from vertigo3:

then we'll be at 1245

is this a trick question?
:p
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Not really - I think we need to close at the top of the range today in order to declare a short term bottom is in.

If we retrace back down to 45 or below to close, it will be very tricky to trade going forward.
 
1250 was retested and held which is good.



Quote from Lawrence Chan:

Not really - I think we need to close at the top of the range today in order to declare a short term bottom is in.

If we retrace back down to 45 or below to close, it will be very tricky to trade going forward.
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