What ?
I was thinking we see 52 to 53 level
ES Journal Archive (2006 - 2008)
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What ?
I was thinking we see 52 to 53 level
Here's the chart for, it could be a replay of the previous leg... where the wedge breaks down.
Were entering the critical sep/oct period too. Gut is saying sell rallies.
I'm looking for a 'outside' day, where the top end stops get cleared, or yesterdays high gets violated marginally and then the low gets taken out.
Were entering the critical sep/oct period too. Gut is saying sell rallies.
I'm looking for a 'outside' day, where the top end stops get cleared, or yesterdays high gets violated marginally and then the low gets taken out.
I can not help me but this market does not look weak to me. It is clearly market in defence.
It does not want go up too much because slide from here can be dangerous leading to to new multi year lows.
But any attempts take it down from this consolidation area right now it is defended absolutely with ease. Look yesterday at NQ how it retraced easily above 100 EMA.
Because they are very low volume days it looks to me that MMs or PPT or big houses or who the hell it is are defending any breakdowns easily.
Therefore I expect primarily consolidation for now. Few weeks later probably will be necessary make decision if we go up or down but now I expect that we will be shaked to nausea.
It does not want go up too much because slide from here can be dangerous leading to to new multi year lows.
But any attempts take it down from this consolidation area right now it is defended absolutely with ease. Look yesterday at NQ how it retraced easily above 100 EMA.
Because they are very low volume days it looks to me that MMs or PPT or big houses or who the hell it is are defending any breakdowns easily.
Therefore I expect primarily consolidation for now. Few weeks later probably will be necessary make decision if we go up or down but now I expect that we will be shaked to nausea.
Quote from Spectre2007:
gut is saying... sell it all, and sell it down.......... sell sell sell.
I'm entering a period in my life, where I have total disregard for money. Seperating from my wife of 5 yrs. So my risk exposure will be very high.
You must know all the stories of the traders who blew their accounts after a breakup or another emotional period in their lives.
Take an extended vacation, good luck.
spec, there is a gap on your chart from late june around 1310 - 1320,i believe this will sell off in sept ,oct area,i also believe they are holding this up or accumulating down here, the low below 1200 might be 1070,but i think if its this obvious that we are going down ,that we will rally first and the gap is the next target
60 min channel..
Like ammo wrote because pessimism it very big, if the indexes will quickly rise significantly everybody will try short everything /indexes and equities/. That can lead tobig fall like we had several of them
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Now we are sitting above quite good support, break it is not that easy. But falling for example from 1350 in 2-3 days and we can "overlook it" and continue down bellow 1200.
Therefore I believe market makers prefer now playing in range somewhere 1250-1310. They will not try go up unless they do not believe that have everyhing well in hands. They will defend current support line if they can.
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Now we are sitting above quite good support, break it is not that easy. But falling for example from 1350 in 2-3 days and we can "overlook it" and continue down bellow 1200.
Therefore I believe market makers prefer now playing in range somewhere 1250-1310. They will not try go up unless they do not believe that have everyhing well in hands. They will defend current support line if they can.
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