ES Journal Archive (2006 - 2008)

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we are already down 18, not sure there is enough in this to take it there today 1250.... R2 comes in around 1258 (RTH), that is a possibility...


Quote from smilingsynic:

several zones of support exist in that area.
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funny part is ,we are approaching it in such an orderly fashion,no panic,if that was the top and we are resuming our downtrend in a bear market,that's kind of what LC was referring to i think
 
Quote from gwac:

we are already down 18, not sure there is enough in this to take it there today 1250.... R2 comes in around 1258 (RTH), that is a possibility...
More...
spy supp at 1261,5 points lower ,sorta lines up with spu's 58
 
There is no panic in this market (vix 22), this market is under the control of a few, they are marching in down on old news (wow fannie and freddie are in trouble, what a shock), they will take it back up when the news passes.
 
Triple support touched across the 3 indices.

dow 11300 round #
ndx sit above 200 and 100 SMA
spx on summer games open :)

Edit: maybe it is not "allowed" to drop below the summer games opening price :D
 
Quote from ammo:

i think we may get a huge afternoon rally,rubber band is stretched
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If I were trading intraday I'd wait and see what happened around 70-71. That is now intraday resistance. If that holds and becomes support, the pivot would likely be in play.
 
Quote from gwac:

There is no panic in this market (vix 22), this market is under the control of a few, they are marching in down on old news (wow fannie and freddie are in trouble, what a shock), they will take it back up when the news passes.
More...

I don't know if it's old news. Today I'm seeing WFC, BAC, and JPM down well over $1 each. I see oil up $3 at one point. PPI in double digits. Euro rallying. Plenty of reasons to be down other than just FNM.

The fact that VIX is not moving simply indicates that everyone wants to buy. And that is reflected here in this thread...is it not?

Interestingly, we are breaking the trendline on the daily ES chart today, after turning back at the downtrend from the May high a couple of days ago. Of course, the day is not over.

OldTrader
 
Do you all feel the difference between august-march falling and now?

Now it is so organised and smooth, no panic, everyone is hedged or positioned with flow or blown up. With big stop runs, keep short position is very difficult.

Btw, I believe this day is trap for those that thought "tuesday can go up only" like several last of them.
 
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