ES Journal Archive (2006 - 2008)

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what's interesting to me is here we are - quad witching expiry week.

and last friday es closed @ 1254ish and at this writing (at 3pm edt) here we are @ es 1254 ish....
 
Ok heres how I see it.

The ES chart on the 30 and 60 min chart shows a traditional blow off top. This is the exact same candle that displayed during the 2000 market when the Fed lowered short term rates without warning in the middle of the trading day. This is also the same candle that displayed after a Fed announcement to lower/raise rates/do nothing/"Surprise" everyone after a meeting.

The only reason that I'm not going to short this is because the technicalls really don't matter as the Gov't is manipulating this market to the point that you can no longer call it.

Furthermore, This is expiration day so I'm sure the Fed is hoping that all the bears will get the message and cover their shorts and drive the market even higher. With all the shorts out the way the market can continue to rise well into after the election giving the false pretence that the worst is all behind us. If everyone thinks it is over then they will be confortible buying and afraid to short less Unlce Sam punishes you with a massive short covering squeeze.

This market could very well stay overbought for as long as they want it too. Not only have they messed up the market but the charts as well.:mad:
 
Quote from Specterx:

Long 1253 going for 1265. Stop 1247.25.

Don't altogether like this weakness but if there's a day for a monster PPT rally into the close this is it...
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Trashed on that one -6.5. Don't fight the fear.
 
Quote from Specterx:

Trashed on that one -6.5. Don't fight the fear.
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37.50 & 35.00 might be in play. Remember they want to attract more bears before the final amazing push higher.
 
going short right now at 1243, stop loss at 1245, target as much as i can depending on my exit signal

1 hour chart shows downtrending

EMA 9 and EMA 20 almost crossing down
Macd crossed downside
ADXR downtrend
Sto still averaging
ROC downtrend

Timeframe 1 min already showed strong downtrend meanwhile 15 min and 30 min just showed leading indicator

Downtrend or uptrend today guys ?
 
Quote from pulsescan:

37.50 & 35.00 might be in play. Remember they want to attract more bears before the final amazing push higher.
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You might be correct although I'm calling for 1240 as the pivot.
 
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