ES Journal Archive (2006 - 2008)

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Quote from osorico:

The only ANYONE who got their ass handed to them from going long were those more interested in being right than trading what the market was doling out. Other ANYONEs who lost, were those that for whatever reason "missed" an exceptional trading day, complete with gaps, gap-fills, multi-day highs, multi-day lows, IRS agents and paramedics.

Osorico
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I wasn't referring to anyone here of course (alright, maybe blackguard). Its just commentary to go along with the chart :)
 
Quote from tommymoose:

I wasn't referring to anyone here of course (alright, maybe blackguard). Its just commentary to go along with the chart :)
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Yeah we know.

But both Blackguard and Wave caught that backwards moving train, so the commentary had some relevance. :D

Intereting chart though.
 
Quote from smilingsynic:

Probably no size until next week.

If the current uptrend lasts as long as the last downtrend, the new downtrend should begin around 9/11 (May 19 down to July 15 up to September 11). Not that I would place a lot of faith in that.

Looking for strength in which to sell--1320 would be nice. I didn't quite get 1320 by Labor Day, but a few days late would still work, for a position trade.
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Could be a bit longer consider the light volume week or two we got so far as some catch up is going to happen this week.

e.g. the drop in oil price yesterday was good enough to force many overnight shorts to cover at the opening (> 1/2 mil contracts indeed!), kind of wake up move for the shorts. So the one for the longs should happen now.

If NQ holds up fine today, I agree 1320 is very likely. :)
 
Quote from ammo:

i'm not sure if you were talking about now spec,but this last rally is flattening out, or a rolling top,and the wild swings usually preced a trend change,.im still using 1/02/37 high of 18.70 and 7/01/87 hi of 337.88 as trendline for 1134 support,i don't think we have to wait til october for a selloff,thats 135-40 points from here,the last rally was 1200-1313,113 points . i'ld throw up a chart but i'm not that savy
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I think the key to the next move is that all 3 indices have to bring their moving averages in line and that the daily and weekly oversold conditions must be neutralized first.

e.g. on Spec's chart the upper channel is projecting resistance in 1310-1330 region and that is right above his MAs too.

We can of course go sideway and keep chopping until the MAs are brought down to the current level - providing maximum frustration to everyone. :)
 
Lawrence


Last week and the week before saw the same thing, NQ selling brought ES into the 60`s where it sat until the nq selling stopped
then the nq recovery took es into the 90`s.....

edit

es wants to go up but nq does not....
 
ok, I survived, coming back in the positive, price is breaking out of the bottom trading range(basing area) and now holding for it to enter its advancing phase, no change in stop yet
 
Quote from gwac:

Lawrence


Last week and the week before saw the same thing, NQ selling brought ES into the 60`s where it sat until the nq selling stopped
then the nq recovery took es into the 90`s.....
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The price action from the 70 going down to mid-60s in the previous 2 swing lows tell a tale - huge accumulation there.

Shorts at that level can only bail out by buying right above there.

e.g. the 68 prints pre-mkt open

Did I said right below 70 :)

Now, the hard part - to break through 50% of yesterday for the rally to stay alive.
 
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