ES Journal Archive (2006 - 2008)

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Quote from ammo:

covered half at 57 ,putting back out at 61,res line at 62 starting 11/24 on hourly,have a support at 27 on another hourly line,so 30 bid, 1 point above low of day
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add 63.75
 
Quote from Lawrence Chan:

Why not wait til after lunch hour before going short/long? There is a lot of time for the lunch hour chop to finish.

This comment certainly makes way too much sense on the days when the ES showing bullishness early in the day. I guess another approach would be to know the difference between a up channel and a sideways channel. Its kind of like boxing if your opponent is showing signs of weakness than its time to start throwing some jabs in and than maybe the knockout punch.

Have a nice holiday to all you guys and gals.:)
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Quote from ammo:

there seems to be a disconnect between usd/jpy and es, may have to find a new indicator if this persists, any suggestions?
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With light volume and a lot of worldwide uncertainty, you cannot ascribe too much weight to current conditions. That said, there are times when a basic fundamental shift happens in the relationship between currencies and the stock market. When these shifts happen you simply have to wait for them to play out and then figure out the new relationship correlations. It is too early to tell if a shift is happening or just noise in the current low volume environment.
 
Quote from opt789:

With light volume and a lot of worldwide uncertainty, you cannot ascribe too much weight to current conditions. That said, there are times when a basic fundamental shift happens in the relationship between currencies and the stock market. When these shifts happen you simply have to wait for them to play out and then figure out the new relationship correlations. It is too early to tell if a shift is happening or just noise in the current low volume environment.
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What makes more sense is too not pay attention to the currencies and just focus on the movements no matter what the relationship is. Sure its nice to know when the Naz is showing more signs of weakness. But isn't that showing up on the ES chart as well and the prise action? Simple stupid is always best.:)
 
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